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moderate income, where such assessments are used to recover all <br />or part of the FEZ portion of a public improvement. <br />C. Program income does not include income on grant advances from <br />the U.S. Treasury. The following items of income earned on grant advances <br />must be remitted to HUD for transmittal to the U.S. Treasury: <br />1. Interest earned from the investment of the initial proceeds of a grant <br />advance by the U.S. Treasury; <br />2. Interest earned on loans or other forms of assistance provided with <br />FEZ funds that are used for activities determined by HUD either to be <br />ineligible or to fail to meet a national objective or other federal criteria. <br />3. Interest earned on the investment of amounts reimbursed to the FEZ <br />program account prior to the use of the reimbursed funds for eligible <br />purposes. <br />D. The receipt of program income (as defined in Paragraph III.A. <br />hereinabove) by CONTRACTOR in the operation of said program shall be <br />recorded by CONTRACTOR and reported to CITY. <br />E. Program income received by CONTRACTOR shall be returned to <br />CITY unless otherwise provided for in this Agreement. <br />IV. NONDISCRIMINATION <br />CONTRACTOR agrees that no person on the ground of race, color, national origin, <br />religion or sex will be excluded from participation in, be denied the benefits of, or be <br />subjected to discrimination under any program or activity funded in whole or in part <br />with FEZ funds. <br />V. SPECIAL CERTIFICATION FOR RELIGIOUS ENTITIES <br />If CONTRACTOR is a religious entity, CONTRACTOR hereby agrees that in <br />connection with the provision of the services CONTRACTOR shall provide with <br />FEZ funds: <br />A. CONTRACTOR shall not discriminate against any employee or <br />applicant for employment on the basis of religion and shall not limit <br />employment or give preference in employment to persons on the basis of <br />religion. <br />B. CONTRACTOR shall not discriminate against any person applying <br />for the services CONTRACTOR agrees to provide under the terms of this <br />Agreement on the basis of religion and shall not limit such services or give <br />preference to applicants for such services on the basis of religion. <br />Page 7 of 14 <br />