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1[.1 <br />• 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 />corrective action where needed. <br />• Evaluate grant application requirements and make appropriate adjustments as <br />needed to accomplish the objectives of the program. <br />• Conduct annual review of grants and their impact on the County's Business <br />Investment environment. <br />• Provide explanation of why grant was not approved, if requested. <br />GRANT PROGRAM ADMINISTRATION <br />The Grant Program will be administered by a Subcommittee consisting of five members <br />from the Orange County Economic Development Committee. The Subcommittee will <br />meet quarterly to make and facilitate grants. A quorum will consist of 3 voting members <br />of the Subcommittee. County staff may be utilized to service grants, including receiving <br />applications, notifying applicant's of the Subcommittee's decision, making payment to <br />recipients, and generating administrative reports. <br />FUNDING <br />The County will provide funding for the Grant Program through revenues generated <br />from the Orange County quarter cent sales tax. <br />COMMITMENT PERIOD <br />The County will support the Program until funding is exhausted; demand for the <br />Program no longer exists, or until it is no longer financially feasible. <br />ELIGIBILITY <br />• Applicant's business must be located in Orange County in areas zoned <br />appropriately for their use. <br />• Applicants must be business entities whose gross revenues do not exceed $1 <br />million per year. <br />• Applicants and their businesses must not have any past due tax, fee, or fine in <br />Orange County. <br />