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OCEDbiga June 2016 <br /> <br />GRANT PROGRAM ADMINISTRATION <br />The Grant Program will be administered by a Subcommittee consisting of five members from the <br />Orange County Economic Development Committee. The Subcommittee will meet quarterly to make <br />and facilitate grants. A quorum will consist of 3 voting members of the Subcommittee. <br />County staff may be utilized to service grants, including receiving applications, notifying applicants of <br />the Subcommittee’s decision, making payment to recipients, and generating administrative reports. <br />DEADLINES (any given year) <br />x March 31 by 5:00 pm <br />x June 30 by 5:00 pm <br />x September 30 by 5:00 pm <br />x December 31 by 5:00 pm <br />FUNDING <br />The County will provide funding for the Grant Program through revenues generated from the Orange <br />County quarter cent sales tax. <br />COMMITMENT PERIOD <br />The County will support the Program until funding is exhausted; demand for the Program no longer <br />exists, or until it is no longer financially feasible. <br />ELIGIBILITY <br />x Applicant’s business must be located in Orange County in areas zoned appropriately for their <br />use. <br />x Applicants must be business entities whose gross revenues do not exceed $1 million per year. <br />On a case-by-case basis, Grant requests from businesses with revenues exceeding $1 million <br />may be considered by the Subcommittee. <br />x Applicants and their businesses must not have any past due tax, fee, or fine in Orange County. <br />CONDITIONS OF RECEIVING A GRANT <br />x Applicant must fill out a grant application. <br />x Applicant may be asked to appear before the Subcommittee for an interview to detail how grant <br />funds will be used, and answer any questions about their business or application. <br />x Each venture receiving a grant must provide an accounting of how all funds were used and key <br />milestones reached by the venture within 180 days of the receipt of the grant. <br />x As a condition of receiving grant funds, Small Grant recipients may be required to commit to the <br />following mentoring period: <br />Amount of Request <br />o Below $1,000 1 hour session* <br />o $1,000 - $5,000 3 hour session* <br />o $5,000 - $10,000 5 hour session* <br />*unless waived <br />with an experienced business coach or mentor at: <br />¾SCORE Chapel Hill (Service Corps of Retired Executives) <br />321 W. Rosemary Street, Chapel Hill, NC 27516 <br />DocuSign Envelope ID: D3994A52-AC15-40C9-ABB1-96477179B8E9