Purchasing and Property Management
Key claim: The Legal Services Corporation is proposing to remove the monetary threshold from its definition of real estate capital improvements to improve oversight and separate the classification of property work from prior-approval spending limits.
Abstract
(Proposed Rule · Legal Services Corporation) This proposed rule revises the Legal Services Corporation’s (LSC) definition of “capital improvement” by removing the threshold amount of LSC funds that must be expended on an improvement to real estate for the expenditure to qualify as a capital improvement. The proposed amendment would distinguish the definition of a capital improvement from the monetary thresholds required for prior approval; promote consistent tracking and oversight of LSC funds used for capital improvements; and strengthen accountability for LSC funds invested in recipients’ real property.
Why this matters
The Legal Services Corporation is proposing to remove the monetary threshold from its definition of real estate capital improvements to improve oversight and separate the classification of property work from prior-approval spending limits.