2023-655-E-Economic Dev-The Coalition NC-Business Investment Grant

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Revised 1/23 will include a request for proof of expenditures made including copies of receipts and/or photos of the equipment or facility upgrades made. If grant funds are used towards employee costs, a copy of the grant recipient’s NC Employment Security Commission reports or IRS 941 Payroll quarterly reports shall be provided to the County as evidence of compliance. 9. As a condition of receiving grant funds, grant recipients may be asked to commit to a mentoring period as detailed above (CONDITIONS OF RECEIVING A GRANT). 10. If an grant recipient fails to complete items #8 and #9 in a timely manner, as the County in its discretion may determine, the County has the right to require all grant funds back from the grant recipient and the grant recipient shall return the grant funds to the County within thirty (30) days of the County’s written request for such funds. Upon failure of the grant recipient to return the funds, the County may initiate legal proceedings against the grant recipient. Failure to complete items #8 and #9 shall make the grant recipient ineligible for future funding opportunities through the County. 11. The Subcommittee shall provide annual reports to the Economic Development Department and the BOCC of the number of grants requested, approved and denied, and a 2-3 page written analysis of the program’s success metrics to date. 12. Documents, including but not limited to financial statements, business plans, customer and supplier lists, description of inventory or assets, contractual obligations and existing liabilities, submitted during the application process shall be treated as confidential information. Exhibit B Additional Terms No additional terms imposed. DocuSign Envelope ID: 656650C2-31BF-4005-9388-589EA69C9539