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4. Gross income from the use or rental of real <br />property owned by the SUBRECIPIENT that was <br />constructed or improved with CDBG funds,a less the <br />costs incidental to the generation of such income; <br />5. Payments of principal and interest on loans made <br />using CDBG funds; <br />6. Proceeds from the sale of loans made with CDBG <br />funds; <br />7. Proceeds from the sale of obligations secured by <br />loans made with CDBG funds; <br />8. Interest earned on funds held in a revolving fund <br />account; <br />9. Interest earned on program income pending <br />disposition of such income; and <br />10. Funds collected through special assessments made <br />against properties owned and occupied by households <br />not of low and moderate income, where such <br />assessments are used to recover all or part of the <br />CDBG portion of a public improvement. <br />C. Program income does not include interest earned <br />(except for interest described in 24 CPR 570.513) on cash advances <br />from the U.S. Treasury. Such interest shall be remitted to HUD for <br />transmittal to the U.S. Treasury and will not be reallocated under <br />section 106(c) or (d) of the Act. Examples of other receipts that <br />are not considered program income are proceeds from fund raising <br />activities carried out by SUBRECIPIENT receiving CDBG assistance <br />Page 11 of 21 Pages <br />