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100% $1,250,000 <br />While some Article 46 "key use" funding categories had immediate activity and expenditure <br />needs, such as utility infrastructure improvements in the County's three economic development <br />districts, the two grant programs lacked basic guidelines to help guide the best use of Article 46 <br />funds. As a result, although funds began to accrue in accounts being set up for that eventual <br />use, the specific grant programs were not immediately active. Also, the Economic Development <br />Advisory Board was just being re- formed and had not yet assumed specific tasks. <br />The Economic Development Advisory Board members did meet throughout 2014 and drafted a <br />recommended set of Applications, Guidelines and Procedures (see Attachments B and C) <br />recommending how to administer the Business Investment Grant and Agriculture Economic <br />Development Grant programs. <br />Much of the advisory board's effort was patterned after the County's Small Business Loan <br />program and current By -Laws, Policies & Procedures, Application and review process. For <br />Article 46's two grant programs, the Economic Development Advisory Board has offered to <br />receive, review and award all grant applications, subject to the BOCC's comments and <br />approval. Current accrued balances available to disburse are approximately $200,000 in the <br />Business Investment Grant program and $120,000 in the Agriculture Economic Development <br />Grant program. <br />FINANCIAL IMPACT: There is no direct financial impact associated with discussion of Article <br />46's two grant programs. There are no action items requiring formal decisions during the work <br />session. Eventual funding of the Business Investment Grant and the Agriculture Economic <br />Development Grant programs would be provided by Article 46 proceeds, and not from the <br />General Fund. <br />RECOMMENDATION(S): The Manager recommends that the Board receive and review <br />information regarding the proposed draft Applications, Guidelines & Scoring Sheets for each of <br />two grant programs — Business Investment Grant & Agriculture Economic Development Grant <br />the report, and provide comments to staff for follow -up and next steps. Pending Board <br />feedback, staff proposes to bring this item back for approval at the February 3, 2015 regular <br />Board meeting. <br />