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

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C.1 4. At its scheduled quarterly meeting, the Subcommittee will discuss the strengths and weaknesses of complete grant application(s) and decide whether or not to take action on the request, based on the information provided. 5. The Subcommittee shall approve, deny or request additional information from the applicant. They will submit determinations in writing to County staff. 6. The applicant will be informed in writing by County staff of the Subcommittee's decision to deny, grant, grant with condition, or seek more information. If the Subcommittee denies a grant request, it shall provide a copy of the score sheet(s) to the applicant. 7. Should the Subcommittee deny an application, the Subcommittee will not consider any applications from that applicant for at least six months. Should an applicant think that their application has been improperly denied, then the applicant may notify, in writing, the Subcommittee. The notice to the Subcommittee shall state why the applicant thinks the grant should be approved. The application shall then be given further consideration by the Subcommittee and its decision is final. 8. At its discretion, the Subcommittee may impose any additional terms to a grant request. The Subcommittee may require an itemized budget detailing the proposed use of grant funds. 9. Applicants agree to utilize grant funds for their intended use. Each venture receiving a grant must provide an accounting of how all funds were used and key milestones reached by the venture within 180 days of the receipt of the grant. 10. If an applicant fails to complete item #9 in a timely manner, the County has the right to require all grant funds back from the applicant, and may initiate legal proceedings against the applicant. 12. The Subcommittee shall provide annual reports to the Economic Development Department and the BOCC of the number of grants requested, approved and denied, and a 2 -3 page written analysis of the program's success metrics to date. 13. Documents, including but not limited to financial statements, business plans, customer and supplier lists, description of inventory or assets, contractual obligations and existing liabilities, submitted during the application process shall be treated as confidential information.