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DocuSign Envelope ID: 57389730-E7AA-4755-BO8C-C7857BC1A5B5 <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 #9 in 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 /> 3 <br />