2023-411-E-Economic Dev-Felix Enterprises-Business Investment Grant

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Revised 1/23 recommendations. The Subcommittee will be comprised of 5 members from the Orange Count y Economic Development Advisory Board. The Subcommittee Chair, elected by the Subcommittee, shall generally monitor the duties of the Grant Program administration; make sure grant proposals are properly prepared prior to their presentations at the Subcommittee meetings, with the assistance of County staff if needed. The Subcommittee will have the following responsibilities: • Find creative ways to grant funds to stimulate successful Business Investment development and job creation. • Review grant applications quarterly and, determine which app lications meet eligibility requirements and whether an eligible application will be approved, approved with conditions, submitted to the applicant for more information, or denied funding. • Periodically review status of existing grants to determine if funds are being used in the manner in which they were intended, and recommend appropriate corrective action where needed. • Evaluate grant application requirements and make appropriate adjustments as needed to accomplish the objectives of the program. • Conduct annual review of grants and their impact on the County’s Business Investment environment. • Provide explanation of why grant was not approved, if requested. GRANT PROGRAM ADMINISTRATION The Grant Program will be administered by a Subcommittee consisting of fiv e members from the Orange County Economic Development Advisory Board. The Subcommittee will meet quarterly to make and facilitate grants. A quorum will consist of 3 voting members of the Subcommittee. As outlined in the Orange County Advisory Board Ethics Guidelines, a member shall disclose any potential conflict of interest and request to be excused from voting when there is a conflict of interest. County staff may be utilized to service grants, including receiving applications, notifying applicants of t he Subcommittee’s decision, making payment to grant recipients, and generating administrative reports. DEADLINES (of each year by 5:00 pm) • March 31 • June 30 • September 30 • December 31 FUNDING The County will provide funding for the Grant Program through revenues generated from the Orange County quarter cent sales tax. COMMITMENT PERIOD The County will support the Program until funding is exhausted; demand for the Program no longer exists, or until it is no longer financially feasible. ELIGIBILITY • Applicant’s business must be located in Orange County in areas zoned appropriately for their use. • Applicant’s business must be in operation, generating sales/revenue, for at last 6 -months prior to the application deadline to be eligible for the Small Grant, and for at least 12-months for the Large Grant Program. The Startup Grant Program is intended to serve applicants that have been in operation for less than 6-months and have a connection with business counseling services through organizations such as Launch, Piedmont Food Processing Center, Midway Business Center, Small Business and Technology Development Center (SBTDC), Service Corps of Retired Executives (SCORE), Durham Tech Small Business Center etc. DocuSign Envelope ID: AAFD0E35-7DA9-4C05-92EC-9ACC00FF276F