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3 <br />4. At its scheduled quarterly meeting, the Subcommittee will discuss the strengths <br />and weaknesses of complete grant application(s) and decide whether or not to <br />take action on the request, based on the information provided. <br />5. The Subcommittee shall approve, deny or request additional information from <br />the applicant. They will submit determinations in writing to County staff. <br />6.The applicant will be informed in writing by County staff of the Subcommittee’s <br />decision to deny, grant, grant with condition, or seek more information. If the <br />Subcommittee denies a grant request, it shall provide a copy of the score <br />sheet(s) to the applicant. <br />7.Should the Subcommittee deny an application, the Subcommittee will not <br />consider any applications from that applicant for at least six months. Should an <br />applicant think that their application has been improperly denied, then the <br />applicant may notify, in writing, the Subcommittee. The notice to the <br />Subcommittee shall state why the applicant thinks the grant should be approved. <br />The application shall then be given further consideration by the Subcommittee <br />and its decision is final. <br />8. At its discretion, the Subcommittee may impose any additional terms to a grant <br />request. The Subcommittee may require an itemized budget detailing the <br />proposed use of grant funds. <br />9.Applicants agree to utilize grant funds for their intended use. Each venture <br />receiving a grant must provide an accounting of how all funds were used and <br />key milestones reached by the venture within 180 days of the receipt of the <br />grant. <br />10.If an applicant fails to complete item#9in a timely manner, the County has the <br />right to require all grant funds back from the applicant, and may initiate legal <br />proceedings against the applicant. <br />12. The Subcommittee shall provide annual reports to the Economic Development <br /> Department and the BOCC of the number of grants requested, approved and <br />denied, and a 2-3 page written analysis of the program’s success metrics to <br /> date. <br />13. Documents, including but not limited to financial statements, business plans, <br />customer and supplier lists, description of inventory or assets, contractual <br />obligations and existing liabilities, submitted during the application process shall <br />be treated as confidential information. <br />. <br />DocuSign Envelope ID: 6E01584F-326B-4CE3-B664-81513093F22C