[Code of Federal Regulations]
[Title 13, Volume 1]
[Revised as of January 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 13CFR314.5]

[Page 575]
 
                TITLE 13--BUSINESS CREDIT AND ASSISTANCE
 
CHAPTER III--ECONOMIC DEVELOPMENT ADMINISTRATION, DEPARTMENT OF COMMERCE
 
PART 314--PROPERTY--Table of Contents
 
                          Subpart A--In General
 
Sec. 314.5  Federal share.

    (a) For purposes of this part, the Federal share of the value of 
property is that percentage of the current fair market value of the 
property attributable to the EDA participation in the project (after 
deducting actual and reasonable selling and fix-up expenses, if any, 
incurred to put the property into condition for sale). The Federal share 
excludes that value of the property attributable to acquisition or 
improvements before or after EDA's participation in the project and not 
included in project costs.
    (b) Where the recipient's interest in property is a leasehold for a 
term of years less than the depreciable remaining life of the property, 
that factor will be considered in determining the percentage of the 
Federal share.
    (c) If property is transferred from the recipient to another 
eligible entity, as provided in Sec. 314.1(c), the Federal Government 
must be compensated the Federal share of any money or money equivalent 
paid by or on behalf of the successor recipient to or for the benefit of 
the original recipient, provided that EDA may first permit the recovery 
by the original recipient of an amount not exceeding its investment in 
the project nor exceeding that percentage of the value of the property 
that is not attributable to the EDA participation in the project.
    (d) When the Federal Government is fully compensated for the Federal 
share of the value of property acquired or improved in whole or in part 
with grant assistance, EDA has no further interest in the ownership, 
use, or disposition of the property.