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DocuSign Envelope ID:A61FA6AB-E961-43D1-8899-3A69449B14F0 <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 /> • March 31 by 5:00 pm <br /> • June 30 by 5:00 pm <br /> • September 30 by 5:00 pm <br /> • 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 /> • Applicant's business must be located in Orange County in areas zoned appropriately for their <br /> use. <br /> • 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 /> • Applicants and their businesses must not have any past due tax, fee, or fine in Orange County. <br /> CONDITIONS OF RECEIVING A GRANT <br /> • Applicant must fill out a grant application. <br /> • 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 /> • 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 /> • 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 /> ➢ SCORE Chapel Hill (Service Corps of Retired Executives) <br /> 321 W. Rosemary Street, Chapel Hill, NC 27516 <br /> OCEDbiga June 2016 <br />