Alaska Administrative Code
Title 7 - Health and Social Services
Part 6 - Miscellaneous
Chapter 79 - Older Alaskans Pilot Project Grants
7 AAC 79.080 - Value of contributions
Universal Citation: 7 AK Admin Code 7 AAC 79.080
Current through November 28, 2024
(a) The division will accept the following methods of determining the value of contributions made under 7 AAC 79.070(a):
(1) for real property, the grantee must
determine the value of the contribution by using
(A) the fair rental value of the real
property, or of that part of the real property used by the pilot project,
during its use by the pilot project; or
(B) if the real property is developed and the
grantee elects not to use the method described in (A) of this paragraph, the
amount of the depreciation of the building or structure, or part of the
building or structure used by the pilot project, located on the real property
during its use by the pilot project using the straight-line method of
depreciation with an assumed life of the building or structure of 20
years;
(2) for personal
property, the grantee must determine the value of the contribution by using
(A) the fair market value of the personal
property; or
(B) if the fair market
value of the personal property is greater than $1,000, the fair rental value of
the personal property; and
(3) for personal services, the grantee must
determine the value of the contribution by using the prevailing rate of pay for
similar services in the area in which the pilot project is located.
(b) A grantee must maintain records of the personal services contributed to the grantee's pilot project which are used to satisfy the contribution requirements of AS 47.65.040 and 7 AAC 79.060. A grantee must also maintain records of the methods used by the grantee to determine the value of contributions made to the grantee's pilot project.
Authority:AS 47.65.040
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