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VOTE: UNANIMOUS <br /> Audrey Spencer-Horsley acknowledged all the County staff that has worked so well on <br /> this project, in conjunction with the non-profit sector, and noted that October is Housing <br /> America month. <br /> 8. Reports <br /> a. Report on Small Business Investment Grants, Agriculture Economic <br /> Development Grants, & Small Business Loan Program <br /> The Board received a report on the current status of three (3) grant and loan programs <br /> ("Small Business Investment Grant", the "Agriculture Economic Development Grant", and the <br /> "Small Business Loan Program") that are funded by the County's one-quarter cent sales tax for <br /> economic development (Article 46 funds) and administered by the Orange County Economic <br /> Development Department to support the retention and growth of small businesses, agriculture <br /> and food systems-related agriculture ventures throughout Orange County. <br /> Bonnie Hammersley said this is not a presentation on Article 46, but just a report on <br /> grants that have been awarded. She said Article 46 funds will be discussed at the next work <br /> session. <br /> Steve Brantley, Orange County Economic Development Director, said he will review <br /> three programs that positively affect the residents of Orange County. He presented the <br /> following information: <br /> BACKGROUND: <br /> Two of the intended uses of Article 46 funds for economic development <br /> Include the Small Business Investment Grant, and the Agriculture Economic Development <br /> Grant, which support the recruitment, retention and growth of small business development, <br /> plus farming & food systems related enterprises throughout Orange County. Although grant <br /> funds began to accrue in 2012 following the passage of the one-quarter cent sales tax in <br /> November, <br /> 2011, no grant activity immediately followed due to a delay in setting guidelines and <br /> application procedures. The two grant programs went "live" in 2015 after the Orange County <br /> Economic <br /> Development Department's Advisory Board in 2014 drafted recommended guidelines and <br /> applications, and following the BOCC's review, suggested amendments and approval of the <br /> two <br /> New grant programs in early 2015. <br /> The Small Business Loan Program is similar in to the new grant programs in the <br /> sense that the loan program also has an application review committee, guidelines and by-laws, <br /> is supported by Article 46 funding, and is also intended to support the recruitment, retention <br /> and expansion of small businesses in Orange County. The loan program seeks to assist small <br /> firms that may have difficulty accessing traditional banking financing due to small and start-up <br /> firms often having insufficient operating history, poorer credit history, etc. The County's loan <br /> program was created by the BOCC in 1999, received initial funds to lend in 2007, and became <br /> very active in 2011 following a transfer of additional funds to lend. Historic loans have been <br /> made up to $50,000.00 for a maximum of 5 years repayment terms. <br /> A current summary of activities is presented below regarding the Small Business Investment <br /> Grant program, the Agriculture Economic Development Grant program, and the Small <br /> Business <br />