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5 <br />Attachment B <br />ORANGE COUNTY BUSINESS INVESTMENT GRANT PROGRAM <br />PURPOSE <br />The purpose of the Orange County Business Investment Grant Program (Grant <br />Program) is to stimulate successful non -farm Business Investment development and <br />expansion in Orange County (County). Farmers should complete the Orange County <br />Agricultural Grant Application. <br />By making economic development grant funds available, the County will be growing its <br />entrepreneurial ecosystem, supporting existing Business Investment and early -stage <br />venture growth, in order to increase jobs, opportunities and grow the commercial tax <br />base in Orange County. <br />Businesses receiving funding through this program will be encouraged to be good <br />corporate citizens as defined in Orange County's Economic Development Strategic Plan <br />and encouraged to employ Orange County residents. <br />The program will provide two types of grants: <br />Small Grants: Up to $1,000, and, <br />Large Grants: From $1,001 - $10,000 <br />GRANT SUBCOMMITTEE <br />The Grant Subcommittee (Subcommittee) will review all applications and make grant <br />recommendations. The Subcommittee will be comprised of 5 members from the <br />Orange County Economic Development Committee. <br />The Subcommittee Chair, elected by the Subcommittee, shall generally monitor the <br />duties of the Grant Program administration; make sure grant proposals are properly <br />prepared prior to their presentations at the Subcommittee meetings; and oversee the <br />preparation of commitment letters to approved grantees, with the assistance of County <br />staff if needed. Grant commitment letters will be signed by the Chair and /or by County <br />staff. <br />The Subcommittee will have the following responsibilities: <br />1. Find creative ways to grant funds to stimulate successful Business Investment <br />development and job creation. <br />2. Review grant applications quarterly and,„ determine which applications meet <br />eligibility requirements and whether an eligible application will be approved, <br />approved with conditions, or submitted to the applicant for more information. <br />3. Periodically review status of existing grants to determine if funds are being used <br />in the manner in which they were intended, and recommend appropriate <br />