Section 3090.80  Sale or Transfer of Grant-Funded Property

a)         Real Property

1)         If land purchased by grant funds is sold or transferred by operation of law, other than transfer due to the death of the grantee:

A)        within 5 years after receipt of grant funds, 100% of the grant funding or 100% of the sale price, whichever is greater, must be paid back to the Fund;

B)        in the 6^th, 7^th or 8^th year after receipt of grant funds, 80% of the grant funding or 80% of the sale price, whichever is greater, must be paid back to the Fund;

C)        in the 9^th, 10^th or 11^th year after receipt of grant funds, 60% of the grant funding or 60% of the sale price, whichever is greater, must be paid back to the Fund;

D)        in the 12^th, 13^th or 14^th year after receipt of grant funds, 30% of the grant funding or 30% of the sale price, whichever is greater, must be paid back to the Fund; and

E)        in the 15^th year or thereafter, no reimbursement to the Fund is required.

2)         In cases of catastrophic illness or injury to the grantee or principals of the grantee (e.g., spouses, children and parents) the Director may modify the repayment provisions of subsection (a)(1).

b)         Personal Property

1)         No personal property purchased with grant funds shall be disposed of without the Department's written consent, which will not be unreasonably withheld.  Disposing of personal property without written consent shall require repayment of the grant funding used to purchase the property or the fair market value of the property, whichever is deemed most appropriate by the Department.

2)         Any insurance proceeds from personal property that was purchased with grant funds and is accidentally destroyed must be used to replace the destroyed personal property, unless the Department concurs in writing that the insurance proceeds may be used for another purpose.