Orange County NC Website
Browse       Search
OCEDbiga June 2016 <br /> <br />Exhibit A <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 <br />successful non-farm Business Investment development and expansion in Orange County (County). <br />Farmers should complete the Orange County Agricultural Grant Application. <br />By making economic development grant funds available, the County will be growing its entrepreneurial <br />ecosystem, supporting existing Business Investment and early-stage venture growth, in order to <br />increase jobs, opportunities and grow the commercial tax base in Orange County. <br />Businesses receiving funding through this program will be encouraged to be good corporate citizens as <br />defined in Orange County's Economic Development Strategic Plan and encouraged to employ Orange <br />County residents. <br />The program will provide two types of grants: <br />x Small Grants: Up to $1,500.00 <br />x Large Grants: From $1,500.01 -$10,000.00 <br />GRANT SUBCOMMITTEE <br />The Grant Subcommittee (Subcommittee) will review all applications and make grant <br />recommendations. The Subcommittee will be comprised of 5 members from the Orange County <br />Economic Development Committee. <br />The Subcommittee Chair, elected by the Subcommittee, shall generally monitor the duties of the Grant <br />Program administration; make sure grant proposals are properly prepared prior to their presentations at <br />the Subcommittee meetings; and oversee the preparation of commitment letters to approved grantees, <br />with the assistance of County staff if needed. Grant commitment letters will be signed by the Chair <br />and/or by County staff. <br />The Subcommittee will have the following responsibilities: <br />x Find creative ways to grant funds to stimulate successful Business Investment development and <br />job creation. <br />x Review grant applications quarterly and, determine which applications meet eligibility <br />requirements and whether an eligible application will be approved, approved with conditions, or <br />submitted to the applicant for more information. <br />x Periodically review status of existing grants to determine if funds are being used in the manner in <br />which they were intended, and recommend appropriate corrective action where needed. <br />x Evaluate grant application requirements and make appropriate adjustments as needed to <br />accomplish the objectives of the program. <br />x Conduct annual review of grants and their impact on the County’s Business Investment <br />environment. <br />x Provide explanation of why grant was not approved, if requested. <br />DocuSign Envelope ID: 2ADECFFC-C314-40C7-BDEC-6BB634835FA3