Reso 1997-021 to 025 - Laserfiche WebLink

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1*:4 111.30a11 PROPERTY MANAGEMENT STANDARDS 1. This attachment prescribes uniform standards governing the utilization and disposition of property furnished by the Federal Government or acquired in whole or in part with Federal funds by State and local governments. Federal grantor agencies shall require State and local governments to observe these standards under grants from the Federal Government and shall not impose additional requirements unless specifically required by Federal law. The grantees shall be authorized to use their own property management standards and procedures as long as the provisions of this attachment are included. 2. The following definitions apply for the purpose of this attachment: a. Real ropedL Real property means land, land improvements, structures and appurtenances thereto, excluding movable machinery and equipment. b. Personal 1L ep rty. Personal property means property of any kind except real property. It may be tangible -- having physical existence, or intangible -- having no physical existence, such as patents, inventions, and copyrights. C. Nonexpendable personal property, Nonexpendable personal property means tangible personal property having a useful life of more than one year and an acquisition cost of $300 or more per unit. A grantee may use its own definition of nonexpendable personal property provided that such definition would at least include all tangible personal property as defined above. d. Expendable personal propeM. Expendable personal property refers to all tangible personal property other than nonexpendable property. e. Excess lZ en ly, Excess property means property under the control of any Federal agency which, as determined by the head thereof, is no longer required for its needs. 3. Each Federal grantor agency shall prescribe requirements for grantees concerning the use of real property funded partly or wholly by the Federal Government. Unless otherwise provided by statute, such requirements, as a minimum, shall contain the following: a. The grantee shall use the real property for the authorized purpose of the original grant as long as needed. b. The grantee shall obtain approval by the grantor agency for the use of the real property in other projects when the grantee determines that the property is no longer needed for the original grant purposes. Use in other projects shall be limited to those under other Federal