Orange County NC Website
DocuSign Envelope ID: 78E1 165A-64D3-43E4-AF1 B-49D5CBEB7557 <br /> ORANGE COUNTY BUSINESS INVESTMENT GRANT PROGRAM <br /> Guidelines <br /> PURPOSE <br /> The purpose of the Orange County Business Investment Grant Program (Grant Program) is to stimulate successful <br /> non-farm Business Investment development and expansion in Orange County(County). Farmers should complete <br /> the Orange County Agricultural Grant Application. <br /> By making economic development grant funds available, the County will be growing its entrepreneurial ecosystem, <br /> supporting existing Business Investment and early-stage venture growth, in order to increase jobs, opportunities and <br /> grow the commercial tax base in Orange County. <br /> Businesses receiving funding through this program will be encouraged to be good corporate citizens as defined in <br /> Orange County's Economic Development Strategic Plan and encouraged to employ Orange County residents. <br /> The program will provide two types of grants: <br /> • Small Grants: Up to$1,500.00 <br /> • Large Grants: From $1,500.01 -$10,000.00 <br /> GRANT SUBCOMMITTEE <br /> The Grant Subcommittee (Subcommittee)will review all applications and make grant recommendations. The <br /> Subcommittee will be comprised of 5 members from the Orange County Economic Development Committee. <br /> The Subcommittee Chair, elected by the Subcommittee, shall generally monitor the duties of the Grant Program <br /> administration; make sure grant proposals are properly prepared prior to their presentations at the Subcommittee <br /> meetings; and oversee the preparation of commitment letters to approved grantees, with the assistance of County <br /> staff if needed. Grant commitment letters will be signed by the Chair and/or by County staff. <br /> The Subcommittee will have the following responsibilities: <br /> • Find creative ways to grant funds to stimulate successful Business Investment development and job creation. <br /> • Review grant applications quarterly and, determine which applications meet eligibility requirements and <br /> whether an eligible application will be approved, approved with conditions, or submitted to the applicant for <br /> more information. <br /> • Periodically review status of existing grants to determine if funds are being used in the manner in which they <br /> were intended, and recommend appropriate corrective action where needed. <br /> • Evaluate grant application requirements and make appropriate adjustments as needed to accomplish the <br /> objectives of the program. <br /> • Conduct annual review of grants and their impact on the County's Business 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 from the Orange County <br /> Economic Development Committee. The Subcommittee will meet quarterly to make and facilitate grants. A quorum <br /> will consist of 3 voting members of the Subcommittee. County staff may be utilized to service grants, including <br /> receiving applications, notifying applicants of the Subcommittee's decision, making payment to recipients, and <br /> generating administrative reports. <br />