Program Income Disposition Requirements
Sale of Property
In the case of real property purchased in part with federal funds, the subrecipient may be permitted to retain title upon compensating CVAD for its fair share of the property. The federal share of the property shall be computed by applying the grant specific percentage of the federal participation in the total cost of the project for which the project was acquired to the current fair market value of the property.
Subrecipients shall retain all royalties received from copyrights or other works developed under projects or from patents and inventions, unless the terms and conditions of the project provide otherwise, or a specific agreement governing such royalties has been negotiated between CVAD and the subrecipient.
Attorney's Fees & Costs
Income received pursuant to a court-ordered award of attorney’s fees or costs, which is received subsequent to completion of the project, is program income to the extent that it represents a reimbursement for attorney’s fees and costs originally paid under the award. Disposition of such program income is subject to the restrictions on the use of program income set forth in the grant.
These types of program income shall be treated in accordance with disposition instructions set forth in the project’s terms and conditions.
Program income, with the approval of the CVAD, may be retained by the entity earning the program income or used by CVAD for the purpose that furthers the objectives of the legislation under which the grant was made.