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2020-267-E Economic Dev - Hope Renovations OCBI grant
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2020-267-E Economic Dev - Hope Renovations OCBI grant
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DocuSign Envelope ID: 109CAB08-E7E7-4F8F-AEFC-5A03EBF5991A <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 /> • 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 <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 /> • Find creative ways to grant funds to stimulate successful Business Investment development and <br /> job creation. <br /> • 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 /> • 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 /> • Evaluate grant application requirements and make appropriate adjustments as needed to <br /> accomplish the objectives of the program. <br /> • Conduct annual review of grants and their impact on the County's Business Investment <br /> environment. <br /> • Provide explanation of why grant was not approved, if requested. <br /> Revised 11/19 <br />
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