C.F.R. » Title 24 » CHAPTER V—OFFICE OF ASSISTANT SECRETARY FOR COMMUNITY PLANNING AND DEVELOPMENT, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT › SUBCHAPTER C—COMMUNITY FACILITIES › PART 570—COMMUNITY DEVELOPMENT BLOCK GRANTS › Subpart F—Small Cities, Non-Entitlement CDBG Grants in Hawaii and Insular Areas Programs

24 C.F.R. § 570.426

Program income

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(a) The provisions of § 570.504(b) apply to all program income generated by a specific grant and received prior to grant closeout.

(b) If the unit of general local government has another ongoing CDBG grant at the time of closeout, the program income will be considered to be program income of the ongoing grant. The grantee can choose which grant to credit the program income to if it has multiple open CDBG grants.

(c) If the unit of general local government has no open ongoing CDBG grant at the time of closeout, program income of the unit of general local government or its subrecipients which amounts to less than $25,000 per year will not be considered to be program income unless needed to repay a Section 108 guaranteed loan. When more than $25,000 of program income is generated from one or more closed out grants in a year after closeout, the entire amount of the program income is subject to the requirements of this part. This will be a subject of the closeout agreement described in § 570.509(c).

Notes of Decisions
Cited in 2 cases, 1981–1982 · leading case: Nickols v. Pierce, 556 F. Supp. 1280 (S.D. Ohio 1982).
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Nickols v. Pierce, 556 F. Supp. 1280 (S.D. Ohio 1982). “24 C.F.R. § 570.426 (f), 24 C.F.R. § 570 .”
Nat. Resources Def. Council, Inc. v. City of New York, 528 F. Supp. 1245 (S.D.N.Y. 1981). “24 C.F.R. § 570.426 (a)(3) (1981). Any costs incurred in demolition “will not be reimbursed if the legally binding committments are not approved.”
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