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Revised 12/25 <br /> <br />quarterly reports shall be provided to the County as evidence of compliance. An additional one- <br />year expenditure report on jobs, sales and key milestones of the venture will be required within <br />365 days of receipt of the grant. <br /> <br />9. As a condition of receiving grant funds, grant recipients may be asked to commit to a mentoring <br />period as detailed above (CONDITIONS OF RECEIVING A GRANT). <br /> <br />10. If a grant recipient fails to complete items #8 and #9 in a timely manner, as the County in its <br />discretion may determine, the County has the right to require all grant funds back from the grant <br />recipient and the grant recipient shall return the grant funds to the County within thirty (30) days <br />of the County’s written request for such funds. Upon failure of the grant recipient to return the <br />funds, the County may initiate legal proceedings against the grant recipient. Failure to complete <br />items #8 and #9 shall make the grant recipient ineligible for future funding opportunities through <br />the County. <br /> <br />11. The Subcommittee shall provide annual reports to the Economic Development Department and <br />the BOCC of the number of grants requested, approved and denied, and a 2-3 page written <br />analysis of the program’s success metrics to date. <br /> <br />12. Documents, including but not limited to financial statements, business plans, customer and <br />supplier lists, description of inventory or assets, contractual obligations, and existing liabilities, <br />submitted during the application process shall be treated as confidential information. <br /> <br />ORANGE COUNTY ECONOMIC DEVELOPMENT GRANTS <br />CLAWBACK/COLLECTION POLICY <br />SECTION 1 <br />PURPOSE AND APPLICABILITY: <br />This administrative policy is intended to serve as a guideline by which grant funds may be collected <br />or clawed back by Orange County. <br />The Economic Development Department administers the following Grant Programs: The Business <br />Investment Grant Program; the Agriculture Grant Program. <br />Each program has requirements grantees must meet in order to satisfy the terms of their respective <br />grant agreements. Failure to meet the requirements of the programs and the grant agreements and <br />thereafter the failure to cure the initial problem will result in the County exercising its rights to collect <br />or clawback the grant funds. <br /> <br /> <br /> <br />Docusign Envelope ID: 98549235-7424-4E34-B3DD-2A181A699FDD