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its own official activities without reimbursement to the City or sell <br />the property and retain the proceeds. <br />b) All other nonMendable property. Contractor may retain the <br />property for its own use provided that a fair compensation is made <br />to the City for the latter's share of the property. The amount of <br />compensation shall be computed by applying the percentage of <br />Federal participation in the grant program to the current fair market <br />value of the property. <br />3) If Contractor has no need for the property, disposition of the property shall <br />be made as follows: <br />a) Nonexpendable property with an acquisition cost of $1,000 or less. <br />Except for that property which meets the criteria of (2)(a) above, <br />Contractor shall sell the property and reimburse the City an amount <br />which is computed in accordance with (iii) below. <br />b) Nonexpendable property_with an acquisition costs of over $1,000. <br />Contractor shall request disposition instructions from the City. <br />The City shall determine whether the property can be used to meet <br />the City's or HUD's requirement. If no requirement exists, the <br />availability of the property shall be reported to the General <br />Services Administration (GSA) by HUD to determine whether a <br />requirement for the property exists in other Federal agencies. The <br />City shall issue instructions to Contractor within 120 days the <br />following procedures shall govern: <br />i. If Contractor is instructed to ship the property elsewhere, <br />Contractor shall be reimbursed by the benefiting Federal <br />agency with an amount which is computed by applying the <br />percentage of Contractor's participation in the grant <br />program to the current fair market value of the property, <br />plus any shipping or interim storage costs incurred. <br />ii. If Contractor is instructed to otherwise dispose of the <br />property, Contractor shall be reimbursed by the City for <br />such costs incurred in its disposition. <br />iii. If disposition instructions are not issued within 120 days <br />after reporting Contractor shall sell the property and <br />reimburse the City an amount which is computed by <br />applying the percentage of Federal participation in the grant <br />Exhibit F — Building Futures page 3 of 5 <br />September 16, 2002 <br />GACommunity Development\CDBG\BuildingFutures\FY2002-03 <br />