COM 0912.000 2024-2026 - Laserfiche WebLink

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• Final Report: A comprehensive summary of all Work completed under this Agreement, including total applications received, number of applications approved, total grants disbursed, number of businesses served, demographic outcomes, and administrative costs. The Final Report shall be submitted no later than the Agreement end date. Appeals. Administer an appeals process by which denied applicants may submit an appeal with additional documentation within ten (10) business days of receiving a denial notification. Appeals shall be reviewed by the R&D program team, and final determination shall rest with the Director of Research and Development. IV. COMPENSATION SCHEDULE A. Total Funding. A total sum of money not to exceed FIVE HUNDRED THOUSAND AND NO/100 DOLLARS ($500,000.00 USD), tax inclusive, to be paid from DBEDT to R&D, allocated as follows: • Grant Pool: $475,000 (95% of total budget) disbursed as grants to eligible applicants in the order applications are received and approved until funds are exhausted. If administrative costs are less than $25,000, the remaining monies shall be added to the grant pool. • Maximum Administrative Fee: $25,000 (5% of total budget) — reserved for program setup and other administrative costs including staff time. B. Payment Schedule. DBEDT shall make payment to R&D as follows: • Payment One: An amount not to exceed $475,000 within 30 days of Agreement execution and prior receipt and approval of an original invoice, for disbursement as grants to eligible applicants. • Payment Two: An amount not to exceed $25,000, within 30 days of receipt and approval of an original invoice, all required monthly and quarterly progress reports, the Final Report, and satisfactory completion of all services. C. Changes to Expenditure of Funds. Funds shall be spent in accordance with the approved budget and Program Guidelines. Changes to the use of award money are prohibited without the prior written approval of both DBEDT and R&D. D. Invoice Requirements. The official invoice date is the date the invoice and all required deliverables are received and accepted by DBEDT. Invoices must include the full name of R&D as it appears in this Agreement, an R&D -generated invoice number, and the DBEDT MOA number. Invoices submitted prior to receipt of all required deliverables will not be accepted and must be resubmitted. E. Availability of Funds. R&D acknowledges and agrees that this Agreement is subject to the availability of funds. If there are insufficient funds appropriated, allotted, or otherwise made available to DBEDT, DBEDT may, without liability including consequential damages, reduce and amend the contracted amount of compensation upon written notification to R&D and amendment of this MOA.