Agenda - 03-03-2015 - 6i - Laserfiche WebLink

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W ORANGE COUNTY BUSINESS INVESTMENT GRANT PROGRAM PURPOSE The purpose of the Orange County Business Investment Grant Program (Grant Program) is to stimulate successful non -farm Business Investment development and expansion in Orange County (County). Farmers should complete the Orange County Agricultural Grant Application. By making economic development grant funds available, the County will be growing its entrepreneurial ecosystem, supporting existing Business Investment and early -stage venture growth, in order to increase jobs, opportunities and grow the commercial tax base in Orange County. Businesses receiving funding through this program will be encouraged to be good corporate citizens as defined in Orange County's Economic Development Strategic Plan and encouraged to employ Orange County residents. The program will provide two types of grants: • Small Grants: Up to $1,500, and, • Large Grants: From $1,501 - $10,000 GRANT SUBCOMMITTEE The Grant Subcommittee (Subcommittee) will review all applications and make grant recommendations. The Subcommittee will be comprised of 5 members from the Orange County Economic Development Committee. The Subcommittee Chair, elected by the Subcommittee, shall generally monitor the duties of the Grant Program administration; make sure grant proposals are properly prepared prior to their presentations at the Subcommittee meetings; and oversee the preparation of commitment letters to approved grantees, with the assistance of County staff if needed. Grant commitment letters will be signed by the Chair and /or by County staff. The Subcommittee will have the following responsibilities: • Find creative ways to grant funds to stimulate successful Business Investment development and job creation. • Review grant applications quarterly and, determine which applications meet eligibility requirements and whether an eligible application will be approved, approved with conditions, or submitted to the applicant for more information.