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DocuSign Envelope ID:6DC55E45-5725-4642-990E-E7E61719EE79 <br /> Subcommittee. The notice to the Subcommittee shall state why the applicant thinks the grant <br /> should be approved. The application shall then be given further consideration by the <br /> Subcommittee and its decision is final. <br /> 7. At its discretion, the Subcommittee may impose any additional terms to a grant request. The <br /> Subcommittee may require an itemized budget detailing the proposed use of grant funds. <br /> 8. Applicants agree to utilize grant funds for their intended use. Each venture receiving a grant <br /> must provide an accounting of how all funds were used, or will be used, and key milestones <br /> reached by the venture within 180 days of the receipt of the grant. <br /> 9. As a condition of receiving grant funds, Small Grant recipients may be required to commit to a <br /> mentoring period as detailed above (CONDITIONS OF RECEIVING A GRANT) unless waived <br /> by the Grant Subcommittee. <br /> 10. If an applicant fails to complete items#8 and#9 in a timely manner, the County has the right to <br /> require all grant funds back from the applicant, and may initiate legal proceedings against the <br /> applicant. <br /> 11. The Subcommittee shall provide annual reports to the Economic Development Department and <br /> the BOCC of the number of grants requested, approved and denied, and a 2-3 page written <br /> analysis of the program's success metrics to date. <br /> 12. Documents, including but not limited to financial statements, business plans, customer and <br /> supplier lists, description of inventory or assets, contractual obligations and existing liabilities, <br /> submitted during the application process shall be treated as confidential information. <br /> OCEDbiga June 2016 <br />