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X. Trade-In of Property
When determined to be in the NNRHA's best interest, property may be traded in toward the
purchase of replacement equipment.
Trade-in values shall be documented and approved by the Executive Director as part of the
procurement process.
XI. Donation or Transfer
The Authority may donate or transfer surplus property to:
• Government agencies;
• Public bodies; or
• Qualified nonprofit organizations whose mission supports affordable housing,
community development, or other public purposes consistent with the NNRHA's mission.
Such transfers shall:
• Be approved by the Executive Director;
• Be supported by documentation establishing the public benefit;
• Be documented through a bill of sale, transfer agreement, or similar instrument.
XII. Record Retention
All documentation relating to the disposition of NNRHA property, including inventories,
valuations, approvals, advertisements, bid tabulations, receipts, bills of sale, and fixed asset
adjustments, shall be maintained in accordance with the NNRHA's Records Retention Policy and
all applicable federal and state recordkeeping requirements.
XIII. Effective Date
This policy shall become effective upon approval by the Board of Commissioners and shall
remain in effect until amended or rescinded by Board action.Jump to an indexed page (141 of 141)