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Stream2SeaSub-Grant Agreement

THIS AGREEMENT ("Agreement") by and between the Hardee County Industrial Development Authority (the "IDA"), a dependent special district and Stream2Sea, Incorporated ("Stream2Sea"), a privately held company, is set forth as follows:

RECITALS

WHEREAS, The Hardee County Economic Development Authority ("EDA"), an Independent Special District was created by the Florida Legislature to solicit, rank and fund grants for economic development for and in the geographic boundaries of Hardee County,Florida; and

WHEREAS, The IDA, a dependent Special District was created by the Florida Legislature to foster and promote economic development in Hardee County, Florida, activated by resolutions 84-10 and 96-31 of the Hardee County Board of County Commissioners; and

WHEREAS, Stream2Sea, a new skincare cosmetic company, is dependent upon the availability and access to a manufacturing "fill-line"; and

WHEREAS, the EDA has previously funded, during the September 2013, funding cycle, a grant to the IDA to procure a facility to locate, create and operate a business development incubator/accelerator hereinafter referred to as "Innovation Place" (Attached as Exhibit A grant award agreement); and

WHEREAS, the "Innovation Place" facility has been acquired and sufficiently retrofitted to recruit and accommodate the development of businesses dependent upon a publicly owned, privately contracted "fill-line;" and

WHEREAS, the EDA has continued funding to the IDA to sustain the development of "Innovation Place", through a budgeted appropriation for the development of Stream2Sea (See Exhibit A); and

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WHEREAS, the management of"fill-line" manufacturing requires specific training and certifications generally available in the private sector, necessitating private contractual management (To be contracted through RFP process); and

WHEREAS, the owner of Stream2Sea has previously demonstrated an ability to create and sustain jobs in Hardee County; and

WHEREAS, the "Innovation Place" project, inclusive of tenants funded by grants provided through the EDA to the IDA, has been ranked as a priority by the Cities and County elected officials and approved by the EDA and IDA members; and

WHEREAS, Stream2Sea has agreed to comply with certain conditions and deliver certain performance, including measurable job creation/retention and economic diversity in the local economy, in consideration for receiving these benefits; and

WHEREAS, the parties believe it is in the best public interest to enter into thisAgreement for the reasons set forth above; and

AGREEMENT

NOW, THEREFORE, in consideration of the mutual promises herein, the parties agree as follows:

1. RECITALS:

The above stated recitals are hereby incorporated by reference.

2. IDA COMMITMENTS:

The IDA will facilitate the orderly development of Innovation Place and its tenants, including the management of the grant funds. The IDA agrees to provide funding consistent with the EDA grant agreement as follows:

a. To provide funding to Stream2Sea consistent with the EDA approved budget in the amount of$640,962.50.

b. To make observations and recommendations for overall grantcompliance and Stream2Sea development progress to the EDA.

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c. To work with the County Staff delegated administrative duties for theEDA.

At any time during the term of this agreement, the commitment to continue advanced funding by the IDA is conditioned upon sufficiency of EDA reimbursements, all as determined by the IDA in its sole and absolute discretion.

3. STREAM2SEA COMMITMENTS:

Stream2Sea agrees to adhere to EDA grant award requirements and further agrees as follows:

a. Stream2Sea is committed to developing a positive atmosphere for the orderly development and job creation aspects of this agreement in Hardee County

b. Bring business experience and knowledge of new product development and introduction into the market place.

c. Provide for the employment of necessary personnel to effectuate the success of the Stream2Sea product line from production thru marketing.

d. Enter into agreements with the contracted fill-line operator for production of products for which the fill line can accommodate and has the capability to produce.

e. Expend funding according to the budgeted appropriations.f. Stream2Sea, in conjunction with the fill-line shall create and maintain,

in the aggregate, at least Ten ("10") new employment positions in Hardee County by June 30, 2016 (priority in hiring shall be given to Hardee County residents). These new positions shall have a cumulative wage average at least 20% above the state of Florida minimum wage rate for each period. The obligation of the company shall be to make its best efforts to maintain or increase employment levels in accordance with the following schedule:

(1) 5 jobs by August 1, 2015

(2) 7 jobs by December 31, 2015

(3) 10jobsbyJune30,2016 ,

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The number of jobs created by Stream2Sea shall include jobs created by the fill line contractor at a ratio equal to the Stream2Sea production units divided by the total production units of the fill line for any employment reporting period.

g. Stream2Sea shall submit with each funding request, documentation substantiating the request as follows:

1. Draw Advance - detailed description of manner in which funds are to be spent, in accordance with approved budget in grant award agreement. The initial advance shall be limited to operational and or capital expenditures expected to be incurred in the ensuing 30 day period. Subsequent advances may be considered on a case by case basis. No additional advance will occur without proof of expenditure of any previous advance.

2. Draw Reimbursement- detailed description of expenditure byproduction of redacted receipts, invoices, canceled checks, bank statements, payroll records or any other information deemed necessary by the IDA.

3. Stream2Sea shall maintain such records as are reasonably deemed necessary by the IDA and Hardee County auditors, or such other persons or entities designated by the IDA, to ensure proper accounting for the expenditure of funds provided under this Agreement and for the performance by each of them under this Agreement.

4. COMPLIANCE VERIFICATION

No later than 30 days from the end of each quarter, the combined employment of the fill-line and Stream2Sea shall be reported to the IDA office with redacted employment records, reflecting Hardee County employment reported to either the State Unemployment division (RT-6 form) or redacted form 941 quarterly report to the Social Security Administration/IRS; until such time the business or the IDA mutually agrees to terminate this requirement. In no event shall it continue beyond60 months from the date of this agreement.

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5. REMUNERATION OBLIGATION

a. JOB REQUIREMENTS

As set forth in Section 3.f. above, annually during the term of this Agreement, through December 31, 2020, Stream2Sea must deliver to the IDA an Annual Compliance Verification within 30 days demonstrating its Job Requirements have been met for the year just ended. The consequences to Stream2Sea of satisfying, failing to satisfy or exceeding its respective Job Requirements is as follows:

1. COMPLIANCE WITH JOB REQUIREMENTS

If an Annual Compliance Verification demonstrates that Stream2Sea 's Job Requirement has been met for the year just ended, then Stream2Sea will be deemed to have met its obligations for such preceding year and no remuneration shall be due.

2. FAILURE TO MEET JOB REQUIREMENT

a. If the cumulative Annual Compliance Verification of employment demonstrates that Stream2Sea 's Job Requirement has not been met for the year just ended, then the IDA may require Stream2Sea to pay remuneration in the amount of Two Thousand Five Hundred Dollars ($2,500) per job for every employment position by which it is short that year.

b. Any action, event or circumstance resulting in a failure tomeet job creation requirements may, at the option ofthe IDA, result in demand for and legal action to require reimbursement of the grant funds according to the schedule as set forth in Exhibit B.

c. Any outstanding remuneration obligation under this agreement shall be paid no later than December 31, 2020.

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3. EXCEEDING JOB REQUIREMENT

Exceeding the job requirements is the objective of the grant program. Accelerated reduction in the remuneration obligation may be available upon demonstration of job creation in excess of the requirements in the sole and absolute discretion of the IDA.

4. CREDIT FOR EXTERNAL FUNDING

One of the IDA's primary objectives under this Agreement is to support the development of Innovation Place fill-line operation as an incubator for business and manufacturing in Hardee County, Florida. Procuring external funding independent from IDA/EDA funding directly benefits the County. External funding that results in additional capital investment or job creation may be used to accelerate reduction in the remuneration obligation as set forth in Exhibit B.

6. IDA INSPECTION RIGHTS

(a) DUTY TO MAINTAIN RECORDS/ RECORDS RETENTION

1. Stream2Sea shall maintain accounting and business records in accordance with this agreement for a period of five (5) years or until full and final resolution of all inspections, reviews or litigation matters, whichever time period is longer.

2. Appropriate "audit trails" for any ensuing reviews shall bemaintained by Stream2Sea to provide accountability for updates and changes to personnel and financial systems. "Audit Trails" maintained by the subjects of inspections or reviews, will at a minimum, identify the changes made, the individual making the change and the date the change was made.

An adequate history of transactions shall be maintained by Stream2Sea to pe1mit any inspection/review of the system by tracing the activities of individuals through the system.

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Stream2Sea agrees that failure to maintain adequate "audit trails" and corresponding documentation shall create a presumption that compliance with this agreement was not met.

(b) ACCESS

Stream2Sea shall grant access to all paper and electronic records, books, documents, accounting procedures, practices or any other items relevant to the performance of this agreement to the IDA and auditors of the State of Florida and Hardee County, or such other persons or entities designated by the IDA in accordance with all applicable State and Federal laws, regulations or directives for the purposes of inspecting and reviewing such books and records.

Notwithstanding the foregoing, it is recognized that the purpose for which access is to be granted is to monitor compliance with the express obligations of Stream2Sea hereunder, and that it would severely adversely affect thevery objectives of this Agreement if confidential, proprietary technical or business data were to be released or become available to the public as a result of any examination by or on behalf of the IDA or State. Accordingly, Stream2Sea may require, that the IDA and its representatives, to the extent permitted by law, follow protocols designed to protect such information as confidential pursuant to Florida Statute 288.075.

(c) LOCATION

Any such inspection or review shall be conducted at Stream2Sea's principal place of business during normal business hours and at the IDA's expense, provided all costs incurred by the IDA in conducting any such inspection or review shall be reimbursed by Steam2Sea as applicable, in the event such inspection or review reveals a material discrepancy in the compliance with this Agreement.

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(d) REIMBURSEMENT

If any inspection or review reveals that Stream2Sea's reports for the applicable period are not accurate for such period and that additional amounts were owed to the IDA above what was paid or discharged withcredits, then Stream2Sea shall resolve the deficiency within 30 days with theIDA.

(e) CORRECTIVE ACTION PLAN

If any inspection or review reveals any discrepancies or inadequacies which must be corrected to maintain compliance with this Agreement, Stream2Sea agrees within thirty (30) calendar days after its receipt of the findings, to propose and submit to the IDA a corrective action plan. The plan shall identify steps to correct such discrepancies or inadequacies, subject to the approval of the IDA.

Such party shall complete the corrective action approved by IDA withinthirty (30) calendar days after the IDA approves the corrective action plan, at the sole cost of the applicable party.

7. REPORTS

Stream2Sea shall provide to the IDA periodic status reports in accordance with Innovation Place Policies and Procedures Manual, as adopted and amended from time to time. These reports shall be utilized by the IDA when reporting progress on the development of Innovation Place to the EDA or BOCC.

8. USE AND RETENTION OF LOCAL SUPPLIERS

Stream2Sea and direct subcontractors will use reasonable efforts to use qualified Hardee County, Florida-based suppliers to provide products and services under this Agreement, provided however, Stream2Sea and other subcontractors may in itssole discretion, select suppliers and contractors based on program needs, scientificcriteria, and industry standards.

9. INDEMNITY AND HOLD HARMLESS

Stream2Sea shall defend, acquit, discharge, indemnify, release and hold harmless the IDA its employees, employees of The Hardee County Economic Development

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Council, Inc., IDA officers, agents and assigns from any and all liability, claims, suits, actions and loss, arising from or otherwise associated with, its occupation and use of Innovation Place, whether the claim be in law or in equity or both, including, but not limited to, litigation costs and attorneys' fees.

10. DEFAULTS AND REMEDIES

Each of the following acts, omissions or occurrences of Stream2Sea shall constitute an act of default under this agreement:

a. FAILURE TO ESTABLISH A BUSINESSIf Stream2Sea fails to establish a sustainable business for the purposes and in accordance with the terms of this agreement, all funds distributed pursuant to this Agreement will be subject to an immediate refund to the IDA in accordance with the Schedule as set forth in Exhibit B.

b. FAILURE TO PAY FOR JOB REQUIREMENT DEFICITStream2Sea as applicable, shall have sixty (60) days after receiving written notice from the IDA demanding payment of outstanding damages owed by such party under "Job Requirement" section of this agreement in which to pay such outstanding damages; provided, that if such damages are thesubject of a good faith dispute, such period shall be extended until thirty (30)days after such dispute is resolved. If the responsible party does not pay after this period, all amounts that could potentially be claimed under Section5.a.2.a. for such party's failure to meet its future job obligations shallbecome due and payable immediately on demand of the IDA.

c. FAILURE TO PROVIDE VERIFICATIONIf after the end of a calendar year Stream2Sea fails to provide an Annual Compliance Verification by the deadline, the IDA may make a good faith estimate, based on information available, of the Employment Positions at the Innovation Place, as applicable, as ofDecember 31, of that year and, if the estimated Employment Positions fall short of the Job Requirement, the IDA may require corresponding remuneration in accordance with this agreement.

11. INTEREST ON OVERDUE PAYMENTS

Any overdue payment (Pursuant to Section 5.a. 2.a.), owed by Stream2Sea, shall accrue interest at 4% per annum.

12. GENERAL PROVISIONS

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1. AUTHORJTY

Each party represents that it has obtained all necessary authority to enter into thisAgreement.

2. RELATIONSHIP OF PARTIES

The parties will perform their respective obligations under this Agreement as independent contractors and not as agents, employees, partners, joint ventures, or representatives of the other party. No party can make representations or commitments that bind any other party.

3. LIMITATION OF LIABILITY

In no event will any party be liable to any other party for any indirect, special, punitive, exemplary, incidental or consequential damages. This limitation will apply regardless of whether or not the other party has been advised of the possibility of such damages.

4. TERM

The term of this Agreement commences on the Effective Date of theAgreement and continues until the later ofDecember 31,2020, or satisfaction of any remaining remuneration obligation, unless terminated earlier pursuant to the terms of this Agreement.

5. TERMINATION FOR CAUSE

Either party may terminate this Agreement for Cause upon thirty (30) days prior written notice to the other party. "Cause" is any failure to perform a material obligation under this Agreement within the specified time taking into consideration grace periods set forth herein; including a material breach of a Funding Condition. This Agreement may not be terminated if the alleged Cause is cured within the specified period.

6. DISPUTE RESOLUTION AND APPLICABLE LAW

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a. INFORMAL MEETINGSThe parties' representatives will meet as needed to implement the terms of this Agreement and will make a good faith attempt to informally resolve any disputes.

b. MEDIATIONIn the event a dispute arises under this agreement, either party may request the matter be mediated prior to filing suit in accordance with Florida law.

c. APPLICABLE LAW AND VENUEThis Agreement is made and entered into in the State of Florida, and this Agreement and all disputes arising out of or relating thereto shall be governed by the laws of the state of Florida, without regard to any otherwise applicable conflict of law rules or requirements that would require or permit the application of the law of another jurisdiction.

The parties agree that any action, suit, litigation or other proceeding arising out of or in any way relating to this Agreement, or the matters referred to herein, shall be commenced exclusively in the Circuit Court in and for Hardee County, Florida and hereby irrevocably and unconditionally consent to the exclusive jurisdiction of this court for the purpose of prosecuting and/or defending such litigation.

13. PUBLICITY

The parties agree to cooperate fully to coordinate with each other in connection with all press releases and publications regarding this Agreement.

14. NO WAIVER OF SOVEREIGN IMMUNITY

Nothing in this agreement may be construed to be a waiver of the sovereign immunity of any government entity to suit.

15. MISCELLANEOUS PROVISIONS

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1. COUNTERPARTS

This Agreement may be executed simultaneously in two or more counterparts, each of which shall be deemed an original, and it shall not be necessary in establishing proof of this Agreement to produce or account for more than one such counterpart.

2. MERGER

This document constitutes the final entire agreement between the parties and supersedes any and all prior oral or written communication, representation or agreement relating to the subject matter of this Agreement.

3. SEVERABILITY

Any term in this Agreement prohibited by, or unlawful or unenforceable under, any applicable law or jurisdiction is void without invalidating the remaining terms of this said Agreement. However, where the provisions of any such applicable law may be waived, they are hereby waived by a party, as the case may be, to the fullest extent permitted by the law, and the affected terms are enforceable in accordance with the parties' original intent.

4. SURVIVAL OF PROMISES

Notwithstanding any expiration, termination or cancellation of this Agreement, the rights and obligations pertaining to payment or repayment of funds and/or remuneration obligation, confidentiality, disclaimers and limitation ofliability, indemnification, and any other provision implying survivability will remain in effect after this Agreement ends.

5. BINDING EFFECT

This Agreement and all terms, provisions and obligations set forth herein shall be binding upon and shall inure to the benefit of the parties and their successors and assigns and shall be binding upon and shall inure to the

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benefit of the parties and their respective successors and assigns and all other agencies, departments, divisions, governmental entities, public corporations and other entities which shall be successors to each of the parties or which shall succeed to or become obligated to perform or become bound by any of the covenants, agreements or obligations hereunder of each of the parties hereto.

6. SUCCESSORS AND ASSIGNS

Stream2Sea may assign its rights and obligations under this Agreement, with written consent of the IDA which may not be unreasonably withheld.

7. FORCE MAJEURE

The parties shall not be required to perform any obligation under this Agreement or be liable or responsible for any loss or damage resulting from its failure to perform so long as performance is delayed by force majeure or acts of God, including but not limited to strikes, lockouts or labor shortages, embargo, riot, war, revolution, terrorism, rebellion, insurrection, flood, natural disaster, or interruption of utilities from external causes.

8. NOTICE

All notices, requests, demands and other communications will be in writing and will be deemed given and received (i) on the date of delivery when delivered by hand, (ii) on the following business day when sent by confirmed simultaneous telecopy or email, (iii) on the following business day when sent by receipted overnight courier, or (iv) three (3) business days after deposit in the United States Mail when mailed by registered or certified mail, return receipt requested, first class postage prepaid, as follows:

If to the IDA to:

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William R. Lambert Jr. - Director107 East Main Street Wauchula, FL 33873 (863)773-4915 fax bill.lambert@hardeemail.com info@hardeemail.com

With Copy to: Kenneth B. Evers424 West Main Street Wauchula, FL 33873 (866)547-4362 fax o ffice@harde e l a w . c om

Ifto Stream2Sea to: Autumn Blum

9. INTELLECTUAL PROPERTY RIGHTS

It is further understood that this Agreement does not grant the IDA any right to acquire intellectual property transferred to or developed by Stream2Sea.

10. INCUBATOR POLICIES AND PROCEDURESThe parties hereby agree to abide by the incubator policies and procedures adopted and amended from time to time. To the extent any provision of this agreement conflicts with any provision of the incubator policies and procedures, the provision of this agreement shall prevail.

11. ATTORNEYS' FEESIn any action or proceeding to enforce or interpret this agreement or any provision hereof, the prevailing party shall be entitled to an award of its reasonable attorneys' fees, including but not limited to bankruptcy and appellate proceedings.

12. EFFECTIVE DATEThe effective date of this agreement is October 1, 2014.

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The parties have caused this Economic Development Agreement to be executed by their duly authorized representatives as of the date first specified above.

Hardee County Industrial Development Authority

By: Vanessa Hefuandez, Chairperson

Stream2Sea, Inc.

-Bi:Autumn Blum, President

Exhibit B

Grant FundedAmount

EligibleReduction Applied/Disallow Credit for

RemainingRemuneration

Year 1bs RequirEiobs Createc Remaining Amount Remuneration Obligation Obligation2016 10 12 $ 640,962.50 20.00% $ 128,192.50 $ 512,770.002017 10 15 $ 500,000.00 20.00% $ 128,192.50 $ 384,577.502018 10 9 $ 640,962.50 20.00% $ $ 384,577.502019 10 28 $ 640,962.50 20.00% $ 128,192.50 $ 256,385.002020 10 9 $ 640,962.50 20.00% $ $ 256,385.00

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HARDEE COUNTYECONOMIC DEVELOPMENT AUTHORITY

GRANT AWARD AGREEMENT

THIS AGREEMENT, made and entered into this .a! day of October, 2014, by and

between the Hardee County Economic Development Authority, hereinafter referred to

as "EDA," and Industrial Development Authority, hereinafter referred to as the

"Business,•tocated at 107 East Main Street, Wauchula, Florida

The EDA, pursuant to Section 211.3103{3)(b)3 F.S., is authorized to establish

the Infrastructure/Job Creation Grant Program to provide grants to qualified for-profit

and not-tor-profit entities to fund projects that provide economic development

opportunities, job creation and infrastructure within the geographic boundaries of

Hardee County.

The EDA has detennined that the Business has met all of the requirements

necessary for participation in the EDA grant Program, and

The EDA desires to distribute funds to the business for projects that provide

economic development, job creation opportunities and Infrastructure within the

geographic boundaries of Hardee County the sum of $1,500,000.00; and

The application and infrastructure program guidelines attached hereto as Exhibit

"A", is hereby incorporated into this agreement and the representations made by the

Industrial Development Authority therein are incorporated as if full set forth herein; and

In consideration for the mutual undertakings and agreements hereinafter set

forth, EDA and the Business agree as follows:

HARDEE COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY ECONOMIC DEVELOPMENT AUTHORITY 107 EAsT MAIN STREETC/O COUNTY MANAGER'S OFACE WAUCHULA, Fl 33873412 W. ORANGE ST., ROOM 103 863-773-3030 PHONE;863-773-4915 FAX863-773·9430 PHONE;883-773·0958 FAX

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1.0 fARTIES: The parties and their respective addresses for purposes of this

Agreement are as follows:

2.0 AQMINISTRATOR: The EDA Agreement administrator is Lexton H. Albritton.

Jr.. County Manager. The Business Agreement administrator Is William R.Lambert.Jr..

Economic Development Director . All approvals referenced in this agreement must be

obtained from the agreement administrators or their designees. Any notice, demand,

request or other communication shall be effective only if in writing and when it is

received by the Agreement manager at the address provided for herein.

In the event that a different Agreement Administrator Is designated by either

Party after execution of this contract, notice of the name, address and telephone

number of the new Agreement Manager shall be delivered in writing to the other Party

and said notification shall be attached to originals of this Agreement.

3.0 TERM OF AGREEMENT: The tenn of this Agreement shallcommence upon

full execution of this agreement, and continue for a two year period; unless terminated

earlier as hereinafter provided prior to that time.

4.0 BUSINESS DESCRIPTION:

(a) The Business is or will be an operating unit of Industrial Develooment

Authority, FEIN. #90-0586572.

5.0 PROJECT DESCRIPTION: See Exhibit "Bu.

5.1 CHANGE ORDERS: In the event the project description or scope of project

is modified, the modifiCation shall be evidenced by written change order PRIOR to any

work being perfonned pursuant to the proposed modification. If the proposed

modification is deemed immaterial by the Administrator, the Administrator shall have

the authority to execute the written change order on behalf of the EDA. If the

modification is deemed material by the Administrator, he shall submit the same to the

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EDA for approval PRIOR to any work being perfonned pursuant to the proposed

modification. For purposes of this subsection, any proposed modification which will

result In an Increase in the award requested is hereby deemed material.

6.0 NO!JCES: All notices pertaining to this Agreement are In effect upon receipt

by EDA, shall be In writing, and shall be transmitted either by personal hand delivery,

United States Post Office,return receipt requested;or, overnight express mall delivery.

Facsimile may be used if the notice Is also transmitted by one of the preceding

fonns of delivery. The addresses set forth above for the respective parties shall be the

places where notci es shall be sent, unless prior written notice of change of address

Is given.

7.0 OBUGATIONS OF THE BUSINESS:The Business agrees to:

(a) administer funds in accordance with elements of the approved project

description, a copy of vmlch Is attached hereto and Incorporated herein as Exhibit "B".

(b) provide a budget and detailed reports to the EDA regarding the project.

Reports must be completed to the satisfaction of the EOA.

(c) upon request by the EDA, and within a reasonable time period, atlow the

EDA to Inspect supporting documentation of reported outcomes and expenses

inclusive of receipts, canceled checks, basis for disbursements and invoices.

(d) retain records for at least five (5) years following the end of this

Agreement, or deliver such records to the EDA for retention. If any litigation, claim,

negotiation, audit, or other action involving the records has been started before the

expiration of the five (5) year period, the records shall be retained untilcompletion of

the action and resolution of all issues which arise from it, or until the end of the five

(5) year period, whichever is later.

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(e) upon request by the EDA, and within a reasonable time period, allow the

EDA to inspect, review and audit all records received or created pursuant to this

Agreement

(f) submit quarter1y project status reports and quarterly reimbursement

requests as attached hereto and incorporated herein as Exhibit "C''. The retention

requirement is waived for governmental entities.

8.0 OBLIGATJONS OF THE EQA:

(a) provide a format for all required reports, and assist the business in

completing reports satisfactory to the EDA.

(b) provide or assist in obtaining technical assistance as needed to distribute

the Designated Funds in accordance With the Approved Plan.

(c) following any site visit or review, provide a written report with comments

and recommendations regarding the manner in which services are being provided.

(d) provide oversight for the efficient and effective distribution of the

Designated Funds.

9.0 TERMINATION OF THfS AGREEMENT: The Agreement may be

terminated by EDA upon failure of the Business to comply with any material term or

condition of this Agreement or a decision by the Business either not to proceed with the

project defined in Section 5.0 or to proceed with that project in a location outside of

Hardee County, Florida.

10.0 PENALTY: Any Business that fraudulently procures or receives funds

under this program is liable for repayment.

11.0 LEGAL REQUIREMENTS: This agreement is executed and entered into in

Hardee County and will be construed, performed, and enforced in all respects in

accordance with the laws and rules of the State of Florida. Each party will perform its

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obligations in accordance with the terms and conditions of this agreement. Any and all

litigation arising under this Agreement shall be brought in the appropriate court in

Hardee County, Florida.

12.0 NON DISCRIMINATION: The Business will not discriminate against any

employee employed in the performance of this agreement, or against any applicant for

employment because of age, ethnicity, religious belief, disability, nationalorigin, or sex.

The Business shall insert a similar provision in all subcontracts for services by this

Agreement.

13.0 ATTORNEY FEES: In any litigation (even through appellate level} or

proceeding to enforce or Interpret any term or provision of this agreement, or if EDA

must hire counselto protect its interest in bankruptcy proceeding filed by business, the

prevailing party shall be entitled to an award of Its reasonable attorneys' fees from the

non-prevailing party.

14.0. RESTRICTION AGAINST ASSIGNMENT:No part of this Agreement shall

be assigned, subcontracted or delegated by either Party to a third party without the prior

written consent of the other Party.

15.0 ENFORCEABIUTY: If any term or provision of this Agreement Is found to

be Illegal and unenforceable, the remainder of the Agreement will remain in full force

and effect and such term of provision will be deemed stricken.

16.0 WAIVER: The failure of either party to this Agreement to object to or to

take affinnative action with respect to any conduct of the other which is in violation of

the terms of this Agreement shall not be construed as a waiver of the violation or

breach, or of any future violation, breach or wrongful conduct.

17.0 COUNTERPARTS: This Agreement may be executed in counterparts,

each of which shall be considered an originalfor all purposes.

--- -

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18.0 MODIFICATION: This writing contains the entire Agreement of the

parties. No representations were made or relied upon by either party, other than those

that are expressly set forth. No agent, employee, or other representative of either party

is empowered to alter any of the tenns of this Agreement, unless done in writing and

signed by an authorized officer of the Business and the authorized agent of EDA.

19.0 ENTIRE AGREEMENT: This Instrument embodies the entire agreement

of the parties. There are no provisions, terms, condition, or obligations other than those

contained in this agreement; and this agreement superseded all previous

communication, representation, or agreement, either verbal or written, between the

parties. No amendment will be effective unless reduced to writing and signed by the

parties.

20.0 DUPLICATE ORIGINALS: This Agreement is executed in duplicate

originals.

HARDEECOUNTYINDUSTR DEVELOPMENT AUTHORITY

--- l;l{;J_ .AUTHORIZED SIGNATURE Date

TITLE:-----------------------

WITNESSES:

HARDEE COUNTYECONOMIC DEVELOPM£ HOR/

\ ;$ 4\2 . ) J ; t /;.

01·.5AUTHORIZED SIGNATURE Date

TITLE: C,Jy._ 1, ,..:,)

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EXHIBIT"A"

B CREATION GRANT PROGRAM (JCP)

GUIDELINES

Hardee County Economic Development Authority c/o County Manager's Office

412 W.Orange Street, Room 103Wauchula, FL 33873

Voice (863) 773-9430 Fax (863) 773-0958

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GUIDELINES OF THEHARDEE COUNTY ECONOMIC DEVELOPMENT AUTHORITY

(INDEPENDENT BOARD)

JOB CREATION GRANT PROGRAM (JCP)

I. PURPOSE

II. DEFINITIONS

Ill. GENERAL REQUIREMENTS

IV. APPLICATION REQUIREMENTS & PROCESSING

V. EVALUATION CRITERIA

VI. GRANT ADMINISTRATION

VII. COMPLIANCE RESPONSIBILITIES

I. PURPOSE. The Hardee County Economic Development Authority Independent Board (Authority), pursuant to Section 211.3103(3)(b)3 F.S., is authorized to establish the Infrastructure Grant Program to provide grants to qualified for-profit and not-for-profit entities to fund projects that provide economic development opportunities, private sector job creation or infrastructure within the geographic boundaries of Hardee County. The purpose of this part is to set forth procedures to govern the program.

II. DEFINITIONS. The terms used in this part are defined as follows:

"APPLICANT" means a local government entity (Board of County Commissioners, municipalities, authorities V.e. water, airport, etc.]), non-profit business or for-profit businesses.

"APPLICATION" means a formal request for EDA funds by an applicant consisting of a complete project application form with all required documentation.

"APPLICATION SUBMISSION PERIOD" means the formally announced period of time provided by the EDA for the submission of applications by local entities, non-profit businesses and for-profit businesses.

4. "AUTHORITY" means the Hardee County Economic Development Authority.

5. "BUSINESS ENTITY" means an economic unit that controls resources, incurs obligations, and engages in business activities in one or more locations.

6. "CASH" means money paid by a grantee to purchase goods and services from private and independent sources for accomplishment of an EDA project. In-kind service costs are not cash.

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7 "CAPITAL IMPROVEMENT PLAN" means that portion of an applicant's adopted local comprehensive plan which indicates a schedule of capital improvement projects, including estimated costs and target dates for completion.

8. "CLERK" means the clerk of the court serving in the capacity of chief financial officer of the county.

9. "COMMISSION" means the Board of County Commissioners of Hardee County.

tO. "COUNTY" means Hardee County.

11."DEVELOPMENT' means the act of physically improving an area, facility, resource or site to increase its ability or capacity to serve economic development, private sector job creation or infrastructure purposes.

12."EVALUATION CRITERIA" means the standards used to evaluate EDAapplications.

13."ESTIMATED PROGRAM FUNDS" means the amount of EDA funds estimated to be available for the subsequent fiscal year by the Authority.

14. "FACILITY'' means a component of a capital improvement project.

15. "FISCAL YEAR" means the County fiscal year, October 1 - September 30.

16. "FUNDING CYCLE" means the interval of time between the start of an EDAapplication submission period and appropriation of project funds by the Authority.

17. "GRANT" means program funds authorized by the Authority for release to a grantee for implementation of an approved project.

18."GRANT AWARD AGREEMENT" means an executed contract between the Authority and a grantee setting forth mutual obligations and reimbursement schedules regarding an approved EDA project.

19. "GRANTEE" means a local governmental entity, non-profit business or for profitbusiness receiving EDA funds pursuant to an approved EDA application.

20. "IN-KIND SERVICE COSTS" means in-house expenses incurred by a grantee for labor and materials and grantee-owned and maintained equipment for accomplishment of an approved EDA project. Volunteer labor, inmate labor, or donated materials are ineligible program expenses.

21."INFRASTRUCTURE" means storm water systems; telecommunications facilities; roads or other remedies to transportation impediments; nature based tourism facilities; additions to the distribution facilities of existing natural gas utilities, existing electric utilities, or existing water or wastewater utilities, or other physical requirements necessary to facilitate tourism, trade and economic development activities in the community dedicated for public use.

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22. "LAND VALUE" means the as match to EDA funds.

fair marke1 value of land used by a grantee

23. "LOCAL GOVERNMENT COMPREHENSIVE PLAN" means a plan adopted pursuant to Chapter 163, Florida Statutes.

24. "LOCAL GOVERNMENTAL ENTITY' means a county government, municipality (incorporated city, town or village), or an independent special district of the State of Florida with legal responsibility.

25. "MATCH" means the provision of cash, in-kind service costs or land value in the ratio required by these guidelines to be added to EDA funds by the grantee for the project cost.

26. "NEEDS" means a deficiency in or a necessity to carry out a predetermined level of service.

27. "NEW CONSTRUCTION" means building of new facilities not previously in existence.

28."PRIORITY LIST" means a list that contains all eligible applications which will meet or exceed the minimum ranking as identified in the "Criteria for the Purpose of Ranking Projects" summary included in the application packet.

29. "PROGRAM" means the EDA grant-in-aid program.

30. "PROGRAM AMOUNT" means the amount of EDA funds received for severance tax.

31. "PROJECT" means the planned undertaking in which all actions or activities have a clear-cut identity and a well-defined objective that has been planned to the point of definite implementation for which EDA funds will be used.

32. "PROJECT COMPLETION" means the project is available for use of operational use for infrastructure projects. Project must be designated complete prior to release of finalreimbursement.

33. "PROJECT COMPLETION DATE" means the date specified in a Grant Award Agreement by which a grantee shall complete an approved EDA project and incur all grant and if applicable, match related expenses. Private sector job creation projects, employee retention requirements shall be met.

34. "PROJECT COST' means the total of an EDA grant award and required match.

35. "PROJECT ELEMENT" means an identified facility within a project.

36. "PROJECT PERJOD" means the period of time set forth in a Grant Award Agreement during which eligible project costs may be incurred and charged to the grant.

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37. "PROJECT SITE" means the specific area, and boundaries thereof,as shown by a survey and a legal description, for which EDA funds are used.

38."REAL PROPERTY" means land and improvements attached or affixed to the land.

39. "RENOVATION" means repair, replacement, or restoration of like facilities to an improved state of condition of which allows job retention and or private sector job creation.

40. "SITE CRITERIA" means criteria related to the site shall be established by theAuthority prior to any solicitation for grant applications.

41."STAFF" means BCC staff as designated by the County Manager.

42. "SUPPORT FACILITY" means a facility which could not stand alone, or which would have little or no public value without the primary facility. Examples of support facilities are: parking lots, restrooms, bathhouses, combined restroom concession stand buildings, access roads, walkways, landscaping as required by Hardee County LOR, security lighting and fencing, and interpretive signs.

43."PRIVATE SECTOR JOBS" means any job in which goods and services are produced by individuals and companies and is not controlled by the state or local government.

44."PUBLIC SECTOR JOBS" means any job controlled by the state or local government. Includes nationalized industries, national, state, and local government services, and public corporations.

Ill. GENERAL REQUIREMENTS. The following constitutes the general procedures for the program:

(1) EDA APPLICATION CATEGORIES. By definition, for the purposes of this application, economic development shall mean any project that creates private sector jobs or activity to promote the ultimate creation of such jobs or for feasibility or planning for such projects. The EDA recognizes four types of economic development categories:

1. Economic Development facilitation, and promotion (non-bricks andmortar).

2. Economic Development private sector job creation.3. Economic Development partnerships with government agencies that

create public or private sector infrastructure implemented thru performance based mortgage or other instrument (bricks and mortar with control mechanism).

4. Those so defined by a two-thirds majority of the Authority members(declaration). This 2/3 majority vote shall require that action be taken at a meeting at which a majority of the members is present.

(2) DISTRIBUTION OF PROGRAM FUNDS. EDA funds are distributed as reimbursement grants by the Authority on a project-by-project basis to applicants eligible under these guidelines. The Authority's performance and obligation to award

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program grants are contingent upon an annual appropriation as announced in theFlorida Administrative Weekly for the subsequent fiscal year.

(3) APPLICATION SUBMISSION PERIOD. The Authority shall accept program applications only during the application submission period. Applications must be postmarked on or before the last day of the application submission period. The Authority shall publicize the dates of the application submission period and other pertinent application information specified in these guidelines in the Florida Administrative Weekly.

(4) GRANT AWARD. The Authority shall rank applications to the extent of estimated available program funds based on criteria relating to administrative capacity, public benefit, economic benefits and public use.

(5) PROGRAM AMOUNT ALLOCATION. For each funding cycle, the Authority shall divide the estimated available program amount into four categories: Joint Application, Job Creation Application, Economic Development Application, and EDA Infrastructure.

(6) RECOMMENDED APPLICATION PRIORITY LIST. The program amount assigned to each fund as established by the Authority shall be divided into four categories: Joint Application, Job Creation Application, Economic Development Application, and EDA Infrastructure. Applications shall be ranked according to criteria summary sheet. The application satisfying the most criteria will receive the highest priority. The remaining applications will be arranged in descending order according to their assigned criteria. Applications criteria below the minimum, established by the Authority shall not be placed on the priority list. The priority list shall include recommendations for distribution of available program funds. In the event there are insufficient applications to account for all program funds assigned to a category or fund, the remaining funds shall then be allocated to the other categories or funds.

(7) BREACH OF CONTRACT. The Authority shall deny or suspend program eligibility to any applicant or grantee against which the Authority has an unsettled financial claim and/or dispute of attainment of program requirements.

IV. APPLICATION REQUIREMENTS and PROCESSING. The Authority shall approve applications for program grants in order of ranking until all program funds are depleted under the following standards and criteria:

(1) ELIGIBLE APPLICANTS. Non-profit businesses and/or for-profit businesses may submit EDA applications during the application submission period.

(2) PROJECT ELIGIBILITY.

(a) Joint Application, Job Creation Application, Economic Development Application, and EDA Infrastructure: EDA grants shall only be awarded to grantees for projects that are for the sole purpose of providing infrastructure or private sector job creation.

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(b) Eligible Site: The site of an EDA development project shall be owned by the applicant, or shall be under lease to the applicant for a period of time sufficient to satisfy the dedication period by the submission period deadline. The Authority shall make exceptions when the applicant demonstrates that: 1) it is in the public interest and it complies with all other parts of these guidelines. Other forms of real property interest will be considered if the applicant provides clear and explicit documentation showing that it has the sole ability to control, manage,and dedicate the property for the required period of time. Site control verification must be received by the execution of the Grant Award Agreement.

(c) Number of Applications: An applicant may submit more than one application for grant assistance. An application grant project must be limited to a single site or group of sites in which all the properties have the same owner or owners.

(d) Active Projects: A grantee with an open EDA project by the closing date of an application submission period can be eligible to submit additional applications.

(e) Duplicate Projects: An applicant shall not submit the same application, in whole or in part in concurrent or overlapping funding cycles.

(3) COMPLETENESS/ELIGIBILITY DETERMINATION. Following closure of an application submission period, Authority staff will review and determine the completeness of each application based on the following:

(a) Applications received by the application submission deadline will be reviewed and evaluated by the governing body of the County and each municipality in the County, the nonprofit corporation and the Authority based on the materials submitted. Applicants will be notified of the timely receipt and status of their application(s).

(b) No additional information shall be accepted after the application submission deadline, unless specifically requested by Authority staff for clarification of information provided in the application received by the published application submission deadline.

(c) Ineligibility: An application, in whole or in part, may be declared ineligible by the Authority pursuant to Paragraphs IV (2)(a-e). The Authority may determine that a project site or facility is not viable or practical if the projects fail to adequately meet the Authority's evaluation criteria.

(4) APPLICATION EVALUATION. Each eligible application shall be evaluated on the basis of the information provided in the application and in accordance with this part.

(5) UNFUNDED AND INELIGIBLE APPLICATIONS. Any unfunded or ineligible application shall remain on file in accordance with Public Records retention requirements.

(6) APPLICATION FORM. The EDA Program Application Form is available from the County Managers Office, 412 W. Orange Street, Room 103, Wauchula, FL 33873.

V. EVALUATION CRITERIA. A priority listing of all project applications, including consideration of the information received from the County, the municipalities, the

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nonprofit corporation, if any, and the public, by ranking each project relative to the others and shall establish funding levels and any appropriate specialconditions for each individual project. The priority listing shall be assigned to each eligible application after an evaluation according to the application criteria which follows:

(1) GENERAL CRITERIA.

(a) Sufficient administrative capability to administer the grant. (b) The public good or public benefit generated by the project. (c) The direct private investment stimulated by the project.(d) The use of County matching Funds on the project.(e) Geographic and demographic diversity in the disbursement of grant awards.(f) Compatibility with countywide economic development and infrastructure

priorities.(g) Financial capacity to carry the project costs until reimbursement is received.(h) Professionaland technical service availability to carry out the project.

Other factors that shall be considered include the following:

(a) The long term economic benefit of the project or activity to the applicant community.(b) The expected time frame for such economic benefit to be realized and the attendant risks related to the likelihood of such realization.(c) The additional economic benefit and/or private sector jobs created or retained which may occur as a result of other capital investment(s) that may be facilitated by the completion of the project.(d) The importance of the grant to the completion, execution and/or implementation of the project.

VI. GRANT ADMINISTRATION. The following constitutes procedures for administration of program grants:

(1) GRANT AWARD AGREEMENT. After the Authority appropriates grant funds, the Authority and grantee shall enter into a Grant Award Agreement which sets forth the responsibilities and duties of each regarding administration of the approved project. The Grant Award Agreement shall contain terms and conditions particular to each project. Grant Award Agreements are not transferable.

(2) PRIVATE SECTOR JOB CREATION REQUIREMENTS. New or rehabilitative construction projects in Hardee County are considered eligible projects if they:

(a) will result in the creation of a minimum of zero new full-time equivalent(FTE) positions for a minimum period of 24 months.

(b) pay for each position a wage of at least 115% of the County's average wage

(c) produce and/or export a product outside of Hardee County

(3) PAYMENT BASIS. Grantees shall be paid program funds by the Authority subject to the following terms:

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{a) The award may not exceed 50 percent (in any one year) of the total award associated with the phase(s) scheduled. The total award will be a minimum of $6,000 times the number of private sector jobs reported, plus $1,000 per private sector job if the average annualwage exceeds the County's average by 150% or $2,000 per private sector job if the average annual wage is in excess of 200%.

(b) If the business also receives a Qualified Target Industry award from theState, the local20% match will be deducted from any award made under this program.

{4} REVERTED PROJECT FUNDS. EDA funds remaining after termination of a grant award or grantee completion of project shall revert to the Authority. If any funds awarded during a funding cycle are not accepted by the grantee or become available before termination of the fiscal year for which they were appropriated, the Authority may authorize the funds be carried forward for use by any succeeding cycle/year.

Creation:Specific Authority: Adopted by Board: Amended:

Senate Bill3110, House Bill1303, and HouseBill1627211.3101(3)(b)3 FS May2, 2006March 25,2008December 21,2010

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I lASTRUCTURE GRANT PROGRAM (IGP)

GUIDELINES

Hardee County Economic Development Authority c/o County Manager's Office

412 W.Orange Street, Room 103Wauchula, FL 33873

Voice (863) 773-9430 Fax (863) 773-0958

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GUIDELINES OF THE HARDEE COUNTY

ECONOMIC DEVELOPMENT AUTHORITY(INDEPENDENT BOARD) INFRASTRUCTURE

GRANT PROGRAM (IGP)

I. PURPOSE

II. DEFINITIONS

Ill. GENERAL REQUIREMENTS

IV. APPLICATION REQUIREMENTS & PROCESSING

V. EVALUATION CRITERIA

VI. GRANT ADMINISTRATION

VII. COMPLIANCE RESPONSIBILITIES

I. PURPOSE. The Hardee County Economic Development Authority Independent Board {Authority), pursuant to Section 211.3103(3)(b)3 F.S., is authorized to establish the Infrastructure Grant Program to provide grants to qualified for-profit and not-for-profit entities to fund projects that provide economic development opportunities, private sector job creation or infrastructure within the geographic boundaries of Hardee County. The purpose of this part is to set forth procedures to govern the program.

II. DEFINITIONS. The terms used in this part are defined as follows:

1. "APPLICANT' means a local government entity {Board of County Commissioners, municipalities, authorities [i.e. water, airport, etc.]), non-profit business or for-profit businesses.

2. "APPLICATION" means a fonnal request for EDA funds by an applicant consisting of a complete project application form with all required documentation.

3. "APPLICATION SUBMISSION PERIOD" means the formally announced period of time provided by the EDA for the submission of applications by local entities, non-profit businesses and for-profit businesses.

4. "AUTHORITY" means the Hardee County Economic Development Authority.

5. "BUSINESS ENTITY" means an economic unit that controls resources, incurs obligations, and engages in business activities in one or more locations.

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6. "CASH" means money paid by a grantee to purchase goods and services from private and independent sources for accomplishment of an EDA project. In-kind service costs are not cash.

7 "CAPITAL IMPROVEMENT PLAN" means that portion of an applicant's adopted local comprehensive plan which indicates a schedule of capital improvement projects, including estimated costs and target dates for completion.

8. "CLERK" means the clerk of the court serving in the capacity of chief financial officer of the county.

9. "COMMISSION" means the Board of County Commissioners of Hardee County.

10."COUNTY" means Hardee County.

11."DEVELOPMENT" means the act of physically improving an area, facility, resource or site to increase its ability or capacity to serve economic development, private sector job creation or infrastructure purposes.

12."EVALUATION CRITERIA" means the standards used to evaluate EDAapplications.

13."ESTIMATED PROGRAM FUNDS" means the amount of EDA funds estimated to be available for the subsequent fiscal year by the Authority.

14. "FACILITY" means a component of a capital improvement project.

15. "FISCAL YEAR" means the County fiscal year, October 1- September 30.

16. "FUNDING CYCLE" means the interval of time between the start of an EDAapplication submission period and appropriation of project funds by the Authority.

17. "GRANT" means program funds authorized by the Authority for release a grantee for implementation of an approved project.

18."GRANT AWARD AGREEMENT" means an executed contract between the Authority and a grantee setting forth mutual obligations and reimbursement schedules regarding an approved EDA project.

19. "GRANTEE" means a local governmental entity, non-profit business or for profitbusiness receiving EDA funds pursuant to an approved EDA application.

20. "IN-KIND SERVICE COSTS" means in-house expenses incurred by a grantee for labor and materials and grantee-owned and maintained equipment for accomplishment of an approved EDA project. Volunteer labor, inmate labor, or donated materials are ineligible program

21."INFRASTRUCTURE" means storm water systems; telecommunications facilities; roads or other remedies to transportation impediments; nature based

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tourism facilities; additions to the distribution facilities of existing natural gas utilities, existing electric utilities, or existing water or wastewater utilities, or other physical requirements necessary to facilitate tourism, trade and economic development activities in the community dedicated for public use.

22. "LAND VALUE" means the assessed fair market value of land used by a grantee as match to EDA funds.

23. "LOCAL GOVERNMENT COMPREHENSIVE PLAN" means a plan adopted pursuant to Chapter 163, Florida Statutes.

24. "LOCAL GOVERNMENTAL ENTITY" means a county government, municipality (incorporated city, town or village), or an independent special district of the State of Florida with legal responsibility.

25. •MATCH" means the provision of cash, in-kind service costs or land value in the ratio required by these guidelines to be added to EDA funds by the grantee for the project cost.

26. "NEEDS" means a deficiency in or a necessity to carry out a predetermined level of service.

27. "NEW CONSTRUCTION" means building of new facilities not previously in existence.

28."PRIORITY LIST" means a list that contains all eligible applications which will meet or exceed the minimum ranking as identified in the "Criteria for the Purpose of Ranking Projects" summary included in the application packet.

29. "PROGRAM" means the EDA grant-in-aid program.

30. "PROGRAM AMOUNT" means the amount of EDA funds received for severancetax.

31. "PROJECT'' means the planned undertaking In which all actions or activities have a clear-cut identity and a well-defined objective that has been planned to the point of definite implementation for which EDA funds will be used.

32. "PROJECT COMPLETION" means the project is available for use of operational use for infrastructure projects. Project must be designated complete prior to release of finalreimbursement.

33. "PROJECT COMPLETION DATE" means the date specified in a Grant Award Agreement by which a grantee shall complete an approved EDA project and incur all grant and if applicable, match related expenses. Private sector job creation projects, employee retention requirements shall be met.

34. "PROJECT COST" means the totalof an EDA grant award and required match.

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35. "PROJECT ELEMENT" means an identified facility within a project.

36. •PROJECT PERIOD" means the period of time set forth in a Grant Award Agreement during which eligible project may be incurred and charged to the grant.

37. "PROJECT SITE" means the specific area, and boundaries thereof,as shown by a survey and a legal description, for which EDA funds are used.

38."REAL PROPERTY" means land and improvements attached or affixed to the land.

39. "RENOVATION" means repair, replacement, or restoration of like facilities to an improved state of condition of which allows job retention and or private sector job creation.

40. "SITE CRITERIA" means criteria related to the site shall be established by theAuthority prior to any solicitation for grant applications.

41."STAFF" means·BCC staff as designated by the County Manager.

42. "SUPPORT FACILITY" means a facility which could not stand alone, or which would have little or no public value without the primary facility. Examples of support facilities are: parking lots, restrooms, bathhouses, combined restroom concession stand buildings, access roads, walkways, landscaping as required by Hardee County LOR, security lighting and fencing, and interpretive signs.

43."PRIVATE SECTOR JOBS" means any job in which goods and services are produced by individuals and companies and is not controlled by the state or local government.

44."PUBLIC SECTOR JOBS" means any job controlled by the state or local government. Includes nationalized industries, national, state, and local government services, and public corporations.

Ill. GENERAL REQUIREMENTS. The following constitutes the general procedures for the program:

(1) EDA APPLICATION CATEGORIES. Infrastructure applicants must demonstrate a direct relationship between the infrastructure funding request and tourism, trade and economic development "activity". Infrastructure applications seeking funding to rehabilitate existing public infrastructure without direct connectivity to job creation are not favored. The EDA recognizes four types of infrastructure application categories:

1. Public Infrastructure necessary for the immediate or facilitation of thecreation of jobs, with or without the use of "performance based mortgage instrument".

2. Private infrastructure necessary for the immediate, direct creation of jobs, with or without use of "performance based mortgage instrumenf', as each application may require to adequately protect the public investment.

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3. Joint infrastructure between a governmental entity and a private sector employment or infrastructure entity.

4. Those so defined by a two-thirds majority of the Authority members(declaration). This 2/3 majority vote shall require that action be taken at a meeting at which a majority of the members is present.

Note: a performance based mortgage shall be created between the entities above, where appropriate, without EDA oversight. The sponsoring government entity shall be the grantee. The grantee is responsible for the creation, implementation and disposition of such instruments.

(2) DISTRIBUTION OF PROGRAM FUNDS. EDA funds are distributed as reimbursement grants by the Authority on a project-by-project basis to applicants eligible under these guidelines. The Authority's performance and obligation to award program grants are contingent upon an annual appropriation as announced in the Florida Administrative Weekly for the subsequent fiscal year.

(3) APPLICATION SUBMISSION PERIOD. The Authority shall accept program applications only during the application submission period. Applications must be postmarked on or before the last day of the application submission period. The Authority shall publicize the dates of the application submission period and other pertinent application information specified in these guidelines in the Florida Administrative Weekly.

(4) GRANT AWARD. The Authority shall rank applications to the extent of estimated available program funds based on criteria relating to administrative capacity, public benefit,economic benefits and public use.

(5) PROGRAM AMOUNT ALLOCATION. For each funding cycle, the Authority shall divide the estimated available program amount into four categories: Joint Application, Job Creation Application, Economic Development Application, and EDA Infrastructure.

(6) RECOMMENDED APPLICATION PRIORITY LIST. The program amount assigned to each fund as established by the Authority shall be divided into four categories: Joint Application, Job Creation Application, Economic Development Application, and EDA Infrastructure. Applications shall be ranked according to criteria summary sheet. The application satisfying the most criteria will receive the highest priority. The remaining applications will be arranged in descending order according to their assigned criteria. Applications criteria below the minimum, established by the Authority shall not be placed on the priority list. The priority list shall include recommendations for distribution of available program funds. In the event there are insufficient applications to account for all program funds assigned to a category or fund, the remaining funds shall then be allocated to the other categories or funds.

(7) BREACH OF CONTRACT. The Authority shall deny or suspend program eligibility to any applicant or grantee against which the Authority has an unsettled financial claim and/or dispute of attainment of program requirements.

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IV. APPLICATION REQUIREMENTS and PROCESSING. The Authority shall approve applications for program grants in order of ranking until all program funds are depleted under the following standards and criteria:

(1) ELIGIBLE APPLICANTS. A local government entity (Board of County Commissioners, municipalities, authorities [i.e. water, airport, etc.]), non-profit business or for-profit businesses may submit EDA applications during the application submission period.

(2) PROJECT ELIGIBILITY.

(a) Joint Application, Job Creation Application, Economic Development Application, and EDA Infrastructure: EDA grants shall only be awarded to grantees for projects that are for the sole purpose of providing infrastructure or private sector job creation.

(b) Eligible Site: The site of an EDA development project shall be owned by the applicant, or shall be under lease to the applicant for a period of time sufficient to satisfy the dedication period by the submission period deadline. The Authority shall make exceptions when the applicant demonstrates that: 1) it is in the public interest and it complies with all other parts of these guidelines. Other forms of real property interest will be considered if the applicant provides clear and explicit documentation showing that it has the sole ability to control, manage, and dedicate the property for the required period of time. Site control verification must be received by the execution of the Grant Award Agreement.

(c) Number of Applications: An applicant may submit more than one application for grant assistance. An application grant project must be limited to a single site or group of sites in which all the properties have the same owner or owners.

(d) Active Projects: A grantee with an open EDA project by the closing date of an application submission period can be eligible to submit additionalapplications.

(e) Duplicate Projects: An applicant shall not submit the same application, in whole or in part in concurrent or over1apping funding cycles.

(3) COMPLETENESS/ELIGIBILITY DETERMINATION. Following closure of an application submission period, Authority staff will review and determine the completeness of each application based on the following:

(a) Applications received by the application submission deadline will be reviewed and evaluated by the governing body of the County and each municipality in the County, the nonprofit corporation and the Authority based on the materials submitted. Applicants will be notified of the timely receipt and status of their application(s).

(b) No additional information shall be accepted after the application submission deadline, unless specifically requested by Authority staff for clarification of information provided in the application received by the published application submission deadline.

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(c) Ineligibility: An application, in whole or in part, may be declared ineligible by the Authority pursuant to Paragraphs IV (2)(a-e). The Authority may determine that a project site or facility is not viable or practical if the projects fail to adequately meet the Authority's evaluation criteria.

(4) APPLICATION EVALUATION. Each eligible application shall be evaluated on the basis of the information provided in the application and in accordance with this part.

(5) UNFUNDED AND INELIGIBLE APPLICATIONS. Any unfunded or ineligible application shall remain on file in accordance with Public Records retention requirements.

(6) APPLICATION FORM. The EDA Program Application Form is available from the County Manager's Office at 412 W. Orange Street, Room 103, Wauchula, FL33873.

V. EVALUATION CRITERIA. A priority listing of all project applications, including consideration of the information received from the County, the municipalities, the nonprofit corporation, if any, and the public, by ranking each project relative to the others and shall establish funding levels and any appropriate special conditions for each individual project. The priority listing shall be assigned to each eligible application after an evaluation according to the application criteria which follows:

(1) GENERAL CRITERIA.

(a) Sufficient administrative capability to administer the grant.

(b) The public good or public benefit generated by the project.

(c) The direct private investment stimulated by the project.

(d) The use of County matching Funds on the project.

(e) Geographic and demographic diversity in the disbursement of grant awards.

(f) Compatibility with countywide economic development and infrastructurepriorities.

(g) Financial capacity to carry the project costs until reimbursement is received.

(h) Professionaland technical service availability to carry out the project.

(2) Other factors that shall be considered include the following:

(a) The long term economic benefit of the project or activity to the applicant community.

(b) The expected time frame for such economic benefit to be realized and the attendant risks related to the likelihood of such realization.

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(c) The additional economic benefit and/or private sector jobs created or retained which may occur as a result of other capital investment(s) that may be facilitated by the completion of the project.

(d) The importance of the grant to the completion, execution and/or implementation of the project.

VI. GRANT ADMINISTRATION. The following constitutes procedures for administration of program grants:

(1) GRANT AWARD AGREEMENT. After the Authority appropriates grant funds, the Authority and grantee shall enter into a Grant Award Agreement which sets forth the responsibilities and duties of each regarding administration of the approved project. The Grant Award Agreement shall contain terms and conditions particular to each project. Grant Award Agreements are not transferable.

(2) PAYMENT BASIS. Grantees shall be paid program funds by the Authority subject to the following conditions:

{a) Project Costs. Payment of project costs shall be reimbursed quarterly as provided for in these guidelines and in the Grant Award Agreement. Project costs may be reimbursed more frequently than quarterly upon determination by the Authority and inclusion in the Grant Award Agreement. Costs shall be incurred between the effective date of, and the project completion date identified in, the Grant Award Agreement except for pre-agreement costs. Costs for appraisals, appraisal review, surveys (boundary and topographic), title searches, and project signs are eligible project expenses. If the total cost of the project exceeds the grant amount and the required match, the grantee must pay the excess cost.

(b) Cost Limits. Project planning expenses, such as architecturaland engineering fees, permitting fees, project inspection, and other similar fees, are eligible project costs provided that such costs do not exceed fifteen percent of the project cost.

(c) Retention. The Authority shall retain ten percent of the grant until the grantee completes the project and the Authority approves the completion documentation set forth in these guidelines. This retention requirement may be waived by the EDA in the Grant Award Agreement.

(3) ACCOUNTABIUTY. The following procedures shall govern the accountability of program funds:

{a) Accounting System. Each grantee shall maintain an accounting system which meets generally accepted accounting principles and shall maintain financial records to properly account for all program and matching funds.

(4} REVERTED PROJECT FUNDS. EDA funds remaining after termination of a grant award or grantee completion of project shall revert to the Authority. If any funds awarded during a funding cycle are not accepted by the grantee or become available

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before tennination of the fiscal year for which they were appropriated, the Authority may authorize the funds be carried forward for use by any succeeding cycle/year.

(5) INFRASTRUCTURE PROJECTS. The following constitutes the specific procedures for administration of infrastructure projects:

(a) Grant Period. The grantee will have up to three years from the start of the fiscal year in which funds are appropriated to complete the project. If the project is not completed within three years from the start of the fiscal year in which funds are appropriated, the contract shall be tenninated and the project funds shall be reverted to the Authority, unless the Authority authorizes an amendment to extend the project agreement.

(b) Commencement Documentation. Prior to commencement of project construction, the grantee shall submit for approval the documentation described in the CommencemenVReimbursement Documentadon Form available from the County Manager's Office at 412 W. Orange Street, Room 103, Wauchula, FL 33873.

(c) Completion Documentation. Upon completion of the project and prior to release of the final payment, the grantee shall submit all documentation described in the Project Completion Documentation Fonn available from the County Manager's Office at412 W. Orange Street, Room 103, Wauchula, FL 33873.

(d) Inspections. The Authority shall have the right to perfonn an on-site inspection of the project site to ensure compliance with the Grant Award Agreement prior to release of the finalgrant payment.

VII. COMPLIANCE RESPONSIBILITIES. The following constitutes the general requirements for program compliance:

(1) SITE DEDICATION. Land owned or under site control by the grantee, which is developed for infrastructure with EDA funds,shall be dedicated for public use.

(2) MANAGEMENT OF PROJECT SITES. Grantees shall ensure by site inspections that facilities on project sites developed with EDA funds are being constructed, operated and maintained. All project sites shall be open for inspection at reasonable times and shall be managed in a safe and attractive manner.

(3) NON-COMPLIANCE. The Authority shall terminate a Grant Award Agreement for non-compliance by a grantee with the terms stated in the Grant Award Agreement or these guidelines. If grantee fails to comply with the provisions of this part or the Grant Award Agreement, the Authority shall declare the grantee ineligible for further participation in EDA until such time as compliance has been obtained.

(4) POST COMPLETION INSPECTIONS. Authority staff shall have the right to perform an on-site inspection of completed program sites to ensure compliance with program requirements as stated in these guidelines.

Creation: Senate Bill 3110, House Bill1303, and House Bill1627

Specific Authority: Adopted by Board: Amended:

211.3101(3)(b)3 FS May02, 2006March 25, 2008December 21,2010

II

lo

Page 1of6

-- /4 tt.oq

ECONC

IMPORTANT NO'

HARDEE COUNTY EDA

]This application must be filed prior to making the dEunit in Hardee County or to expand an existing Florid

APPLICATION PROCESS:1. Please review the attached guidelines before preparing the applicati

After thoroughly reviewing the guidelines and the application, yot call the County Manager's Office listed below to discuss yoUI application before submitting a fonnal proposal.Any infonnation and documentation that cannot be supplied 1

provided on the application form should be attached to the a referenced to the relevant question.

4. Copies of maps or other descriptive materials that you believeevaluating your application may be submitted with your propos include such material, please itemize all such documents in your CO' Any application received after COB on May 31, 2014 will not be acc1 be returned to the applicant.Only hard copy applications will be accepted, no faxed or e-mailecwill be accepted or considered.

7. The completed and signed originalapplication and nine copies must-- .................County Manager's Office

412 W. Orange St., Room 103Wauchula, FL 33873Voice 863-773-9430Fax 863-773-0958

FOR ADMINSTRATIVE USE ONLY:Date and time application received: IDate application deemed complete:

·...

, :.. = L .-·· c J J .:·r\

Page 2of6

Hardee Co unty IndustrialDevelopment Authority

Name of Business

Incubato r Project Project Title (1-5 word description)

The award claim form will be due by January 31st each year for the number of jobs onDecember 31st of the previous calendar year.

The award may not exceed 50 percent of the total award associated with the phase(s) scheduled. The total award will be a minimum of $6,000 times the number of jobs reported, plua $1,000 per job if the average annual wage exceeds the County's average by 150% or $2,000 per job if the average annualwage is In excess of 200%.

If the business also receives a Qualified Target Industry award from the State, the local20% match will be deducted from any award made under this program.

It is suggested that you contact at the below address to discuss your project and application before submitting a formal proposal

The completed and signed application must be filed with:

County Manager's Office412 West Orange Street, Room 103

Wauchula, Florida 33873Voice: 863/773-9430Fax: 863/773-0958

Page 3 of6

Employer Identification

BUSINESS INFORMATION:

a) Name of Business Unit: Hardee County Industria l Development Authority

b) Mailing Address:107 East Main Street Wauchula, FL 33873

c) Name of Parent Company (if applicable):

d) Primary business unit contact:Name:William Lambert Title: DirectorCompany: Hardee Countv EDCAddress:107 East Main Street Wauchula, FL 33873 _Phone: (863)773-3030 Fax:.... (=86=3:.<)7 7 3-4:--=9;...:..15:-- _Email:bill.lambert@hardeemail.com_Website:www.hardeebusiness.com

e) Describe the business unifs primary business activities/function within the county: Incubator used for product development and expansion into the market place.This application is for year two funding of operations cost and funding for clients which include marketin g and materia l cost.

f) Is the business unit minority owned: YES X NO

1) If YES, explain: _

2. a) Is the business unit a (please check all that apply):D Planning multiple locations In the State of FloridaD An expansion of an existing Florida business unit

XA new business unit to Hardee County

b) If an expansion, how many Hardee County employees are currently in the expanding business unit1.2? ------------------------------------

c) How many individuals are employed in ALL Florida locations? _

d) Project's current location address: 897 6111 Avenue South Wauchula. FL 33873

e) Project's proposed location address: _

f) Please check the box(es) that best defines your project.oooMultistate business enterprise oooMulticounty business enterpriseoooMultinational business enterprise o0ORegional HeadquartersX Manufacturer ooOSupport Centerso ooLogisitics/Distribution oo oResearch & Development

OQTIeligible businesses (List attached)

Page 4 of6

g) Please estimate percentage of gross receipts or final sales resulting from this project that will be made outside of Hardee County: o/o

h) Indicate the portion of the project for each activity undertaken in the facility. Enter the industry description and code,if known,of each Industry included in this project:

Business unit ActivitiesFill line produc

distribution

5-6 digit 4 digit NAICS Code

SIC Code

i) List the Business Activity, and/or code(s), estimated employment, and the annualizedaverage wage (not including benefits) for activities included in the project:Activity/Code_ Est. Employment Annualized Wage $...,--- _Activity/Code_ Est. Employment Annualized Wage,._$_· _Activity/Code_ Est. Employment Annualized Wage.%..$ _

j) 1) Anticipated annualized average wage (not including benefits) of the new to Hardee County jobs created by the project at the business unit:$ _ (Cash performance bonuses and other cash payments to the employees,such as overtime, should be Included. The anticipated wage reported here is only an estimate of the average wage to be paid. The wage Indicated In response to an Incentive attachment, if applicable, will be used in the certification, agreement, and claim evaluation process.)

2) Annualized av.project at the .Q

I with each new job created by the

k) 1) Describe the capital investment in real and personal property (examples: construction of new facility; remodeling of facility; upgrading, replacing or buying new equipment. Do not include the value of land purchased for construction of a new building): See

2) List the anticipated amount (within three (3) years) and type (purchase of machinery/equipment, construction of buildings, etc.) of major capital investment to be made by the applicant in connection with this Hardee County project:

Amount $ see break down Construction/Renovations Amount$ see break down Manufacturing Equipment Amount $see breakdown Other EquipmentTotal $ 3AOZ.750.00

3) Estimated square feet of new or newly expanded facility: 38.000

I) Anticipated date of beginning of construction for this project: (mm/dd/yyyy) 1/2014_m) Anticipated date project will be in operation: 8/2014

PageS of6

Project Impact lnfonnation

a. What role will the incentive play in the decision of the applicant to locate or expand in Hardee County? (If there are other states/communities competing for this project, please list which states/communities and what incentives are being offered by these states/communitit

b. A brief review of the applicant's past actMties in Florida and in other states, particularly as they relate to environmental and growth management impacts and how these have been handled. (Basically, what kind of corporate citizen has the applicant been?) _

c. Any criminalor civil fines or penalties and any awards. (If yes, please explain), _

d. If jobs are to be phased in, provide the date when each phase of employment will be fully implemented: (Please ll!!!.i! the phases to no more than three consecutive years andjob creation to no less than ten jobs in any given year.)

PhaseNumber of net new full-time equivalent

Hardee County jobs created in business unif

Date by which those jobs will be created

IItIll

TOTAL ! .. ......·.. .:- .. ....:..

e. For purposes of certification, agreement, and claim review indicate the wage and corresponding threshold (percentage} to which you commit by circlina below:

a) $15.44 which is 115% of the !Qj1average wage of $13.43 in Hardee

County. b) $20.15 which is 150% of the 2012 average wage of $13.43 in

Hardee County.

c) $26.86 which is 200% of the 2012 average wage of $13.43 in Hardee County.

Source of Information: Enterprise Rorida, 2014.

CONFLICT OF INTEREST

All applicants must disclose with their application the name of any elected official, officer, director, or agent who is also an employee of Hardee County, or Hardee County Economic Development Authority. Further, all applicants must disclose the name of any Hardee County or Hardee County Economic Development Authority staff or board member who owns, directly or indirectly, an interest of five percent or more in the company creating the employment opportunities that benefits from the proposed project or the name of any Hardee County or Hardee County Development Authority.

-------- --Related documentation attached

Page6of6

./ -----

Application completed by:

(Signature)

Sarah Pelham Economic DevelopmentCoordinator

(Print or Type Name & Title)

Hard!e Count y EDC (Company)

(863)773-3030(Phone> Number)

(863)773-4915 (Fax Number)

0/tKJ I I{L.,

To the best of my knowledge, the fnfonnatlon included In this application is accurate.

(Signature of Authorized Officer)

Willia m bambert (Print or Type Name of Authorized Officer)

Director(Print or TWA Title of Authorized Officer)

Hardee County EDC (Company)

Same (Phone Number)

Same lFaY Numh-\

Sarah.pelham@hardeemall.com(E-mail Address)

----

::5 7,//Y

(Contact Person, if

dlffer3nq (E-mail Address if

different) (Address If

different)

(Phone If different)

Bill.ianlbert@hardeemall.com (E·rnall Address

lqlolpiMIIt PurdlaMStmdl Wrlp(4 ol4 rolls) $240..00 \C.COStr9tdl w,.o.s,_..r5 Ga l. Plutlc: Mauured IBucbU :zo

$7V.OO$:zoO..DO

.Nsq,c<:o.e

5Gil. lklcbt Lids :zo $50.00 $1,0CO.COStalnllss $teo!Tobia $850.00 $UO,NlLabel PrtntorSupplies 1 $2,500.00 C'JtUI\el·lto..50' $150.00 wooolelds 2 $35.00 .!_'fl.,t"•

RubbetApms 2 $10.00 $l€0.ctRul>ber ...... 2 $40.00 $ .cr.LIIIOit Glows· U pair per be-. 4 $80.00 $S ().t')

Oeen-OpSoops,Sanltlurs 1 $300.00 $3LV.CO

Truh Clns w/Ud Gal. $140.00 .$420.CODesk 1 $650.00 $bSO.CODesk Chair $160.00 $l .(XIAlirWC.blnet $500.00 $SCO..COComputar 1 $1,299.!19 l,lS.:J ).Qulc:lcboob l $643.84 .,.(#:4Ofllce Prtn12<I FuIeapy 1 $79.!19 $7.9.!:llPhone 1 $60.00 srro. cOffiCII SUpPies 1 $350.00 $S.SO.OoJP1utlc Top 6' Tobin 2 $70.00 $HJ.c;JTranftt Pump 1 $3SO.OO $a30..C

1 $2S,OOO.OO$6,000.00

·.:;. ...... _\ "'<.·J .. -i:'..

$10.000.00$17S,OOO.OO

J. _.,.\.,_,1 ...,

.

'

o-M!f.-- ""'-' Total

Sec:tric u $1,500.00 ; t...· .. ).""l':::

/Rftt u $300.00 CC" ..I""I u $200.00 .: .JW...CTu 1 $10,000.00 'il•),J'JJ C"'

Bull...Mllntenonce ond Repolrs u $1.000.00 H.C"<J.C: Soalrtly (C.IMnl System) u $150..00 Sl. oo.r: Olllcl Solppllu u $1SO.CJO ,":'r c . Landotlpi W u $300.00 .. '_ .: Gort.&e pic* up (Oiy of Wludlule) u $200.00 , .;: il.J·j

11\SUlWlClt 1 $1S,OOO.OO 51.'}/:C='-.t :'lMar a er 1 $SO,OOO.OO !j0,'0'. .\A.Martc.ti..(lncflldtt W.btlte •nd *'I) 1 $60,000.00 "'J,".Q·.Hourly 2 $25,000..00 sn,oou ....PayroiiTIHI $10,000..00 $1()Co'U ,,;:. Janltollal Supplies u $100.00 Sl;!i' 'C:· Pat Control u $!10..00 :l.2·'J

0.1. Water System w..(peryrl 1 $950.00 $ !>0.0\1

TCIIIII $ZA5,S211.00

Squeetea $60.00 sno.::oSl<np Clblnet $400.00 $1\CO,t'-1

Misc. Tools $2,CJOO..DO .<X'l. lOilier Misc. $1.500.00Total

eq._, RDaf (llntirWiundl Landtc.pe Porld,.LDI/SicnoceOopltllllnjii'CIWmentl tv-r 21undlna)

Total

Totalllldpt llolquMt $472,617.12

Grant Budget:

Marketing:

10,000

5,000

!S

15,000

15,000

37,200

Branding S.OOQ Total 87 200

Product: 40,000

20,000

ip balm & day cream) 16,000

4,000

600

Research & Development 10 @ 2,000 per 20,000

Products include: Shampoo,Conditioner,Eye Cream,Body Wash

Wound/Burn Cream,Pet products

Operating Expenses:

Salaries for Bookkeeper Part Time 4,800

Salaries for Telemart<eters 2 @ $36,000 72,000

Salary for a Marketing Professional 50,000

Sales Helo 20.000

Total 146.800

Equipment:

Nozzle & sealer for filling tubes and packets

POSSVStem 1.750

Total 3.250

Honev: 100.000

WE believe that our biggest problem in the past is that we have not had the !llOney to develop an efficient and successfulmarketing and sales plan. Our products are amazing and we are convinced that they will sell themselves given the opportunity. We have only been to one large tradeshow and many other expos we feelthat the use of the brandlng. advertising and tradeshow funds can greatly increase our sales potential.

The ingredients,labeling,and SPF are areas where we have need now or as we develop new productsie... hair care,more health care,and yes pet products. The reason for needing a formulator to help with that development.

In the equipment category we have need of a system to help with tracking inventory and a nozzle for filling tubes and sample size packets to take to tradeshows and sales calls.

We feelthat it Is crucial we have a bookkeeper to properly handle the financial information and the beginning of a sales team who will work on commission and a small weekly salary.

The projected growth in the natural products Industry is around 9% for skincare and 21% overall.

With an effective marketing and sales campaign we see the need for more salespeople,production personnel,and office staff.

A full Business Plan is to follow.

We appreciate your attention to this matter

Thank you,

Leslie cantu

(;- """"""·1 -.:'!:'r.'

-·-0)"' · ra;;;upc

-

....

--... -

- ·--!:! -

-

_!;_ I)_ CC>mpanyName:

_E_ f' _ji H K M N p

FCA8H _11 _21 31 41 ei 61 10 _!2 YI{_

_j 1'0TAL

. . 'i .• . ...::• ' ;;-:-:: ..,-.:.:,.., _,_ .-· .:.' M ' · r··-.··_[_St.; j S15,WU I $15.11991 115,99111 fl. fl. - $15,_999 fli5,998 $15,9011

I l01111- 1-[T T L so sc _j(: _j(: so so so [TUTALCAIIH IN so so so so so

CAIJfOVI' .. ·-- ...'- ·- -·._ _- '----: - ,·

:R:••IIWtupC-. I I I I I

-[(WIJOII-01

--j . ·_ ..- : :c:.t.-·:"·r· .

- c ... •- AN. _,-._... "'--- ;.-

.1110<Moment *Ill

IWIIIII11Mr1101Y -li.c.e.......... -•an --81g(l

b)d --''-""' - - .-ge..,,,._......_,.,.,.._ .......jc..L.IIOioo

...'.-..!.I""'

....,......_$(

.l!i lll Ill .1!1 Ill Jll sa so _Ill _.I: . .1!1 _.Ill _I!OTALCASH 0111 ..L---t:OL- so so SD .CAlli 0111 so sc so so so so $(

i;.t'fl;'-":?.150) SD so so sci so $0

.Yio j6 &iH'F'l0¥1 i1o',.,,,;.iGJ . :,1., 0 So - sc f ·- · tc; ·- ··sor' so '-· siNil 10 •;ASH' lalutRJ $11!,999 115,999 llli.WII 111!.111111 1111,999 $15,1191j 115.1111111 I!HII...IIZI ste,W!l ste,91l\1 11

."o"lin"' ......"""'ln

- 111!1111.!m>

_all

L.aonP...,... so

A B E F11

G H It N _ o PI 1[ 121 Zrd'YI\

l .!!IIOJ_ - 132.11'.121 -118..!S11714!. .S13.1i00 -s:l.8t!

s11,211 sr - ::3211 us.-434 s.oo3 -;-; c•;;;,

$Cl $1"1,211 S7.SlE S10.3211 S1&. $211.003 131.0111 $f T_OT,A_L

i.:H,i!IN

J )IIJI $7.4311 Sl7"

.,.....,.........! lion

·--- S400l S«llO" MlOI =I

1-l-ana

I!IIIWifllll--4( - 01 $40( SolO(

S1.1181

•»rdl. i<".-

--------

S25!1 52521 I52721 $27: ..Jml 252 25l

S6,()6( S1.2!1ll i: Sl.2!i01 &1..250 S1.251l 1.2!!Ll 1.2!!0 1.21!CS2lill I:I: S3Sl $7: 5IJ lie 21!

$25l $ml

$1

I..,....,

r-.x.

1151:S81 S19( $16! S111l 2l 141 Ill

-

A

[_TO.TA_L

t.:A,BHIN

:.,W, " D • > " D • " • K

I . L_ .!.!Jl -1.'!1!1- :11.. ",2761 .-1 =.a;J

S10.7112 rr.182 19.883 S17.&41 S23.828 129.812 ,··-: ISAI.J

101 _11t

..-. $7,11e $164.(1

1200 $1,350 S2ll $500 s:.211(1 --: $3.100

--!lAIIIF....l-

1133 P._ $343 13. T71l H l,lllll'l

--S32127-t4--- f---s12'1!-tle -+-,Jm,_ -_-., ,--!-$-1n.'." :a.....,....,.;;::;:::::;::.:: ,:.: ::: = n =;:: ,: ; :,'ZT ::: : :_,_: : ==':=-·-:-r.l2=411

_wa - -' "' - - 2 rJil $4Sl .411;

•Sold

==

-

A B c D E F G H I J K l M N p a1 Comoenv Name: STARTUP 1 2 3 4 5 7 8 g 10 11 1: 1stYR

TOTAL;CASH 52#,762 S23&,482 $236.097 E $234,321 $223.942

6 s so7 Grant $862.000 S662.00 $662,000

9 EQuitY l5!l...ll!lO. S50.000 Eauttv 150.00010 TOTAL CASH IN $712,000 $4,500 -$4,500 $4,500 $22,500 $22.500 $31.500 $1302.000TrOT r ,AL. CAS;;a;Hu-11;-.;-N----f$"3-=1-=,500r-$:45.0;;v;I-OO-$:4:5:;-=,,,ooof-$45>.0:.-0::0:::;J-::S 45i,,OOOd-:S226.. 1l 00 -:$.-:-11,, 036,00011 (SUIISU.rut}

r, ..i'i'i wf .- ;- :· I, _ -· · · I' · .,... r·-· ...-(-'- ··t·,·,'j:·<7·i:--'..";";1-·'·"';-..1A:. ";:,.'A:;;;.;",:;,.;:'::-,-.· t ::

••.•.m •e rl.......,....,'«·

hpu===f!E ',, ;.

'"'•""'' lSfli.5]0O0O --;;;;;,.......--_,

::12.,s5o0o0

17 initlallnvontorv $141,36l.. .353 Initial $1dfJS:i18 $3, -$3-:500 >3.!500

_'19 11estll1.9_ $101,45( $101.450 $101.4502Cl ; mstslall! $25,00( 525:000 LiiiiiYcliiOOIIita i25.00021 $25,00( $25.000 ? ;21! .00022 llaunch c.npalgn $25,00( $25.000 :25 .00023 ilnltJaltravel $16,00C $16,600 i :15 .000

iins M----+----4--.. +----+ -- --+- == = !.• 00 7 == ----4------ - - r-: === $200 0

26 $1,006 $1,000 S2.00D $1,000 $3,000 16.00027 gei1(JI'alsUDOIIes S100 S1oo 5100 $100 $100 ;100 S600 oeneral auoollea $100 $100 $100 $100 ;100 :100 -1;200rnsun111ce S500 -$500 $500 $600 $500 ;Soo $3.000 liiiiUiiiiiCe $500 $5fl9 - $500 0 SOO 16.000

1nven10rv $1,575 $1,575 -s1.si6 S7.875 -S7.B715 Sf .o25 -S31.500 Iii = 511.025 $115,750 515.750 $_!15,750 S1S.750 S7 a15 s1 r3.40030 postage $200 $200 S200 S200 $200 1200 h.200 oostaae $200 $200 $200 $200 1200 i200 S2AOO3' "- SO naP&Irs SO3; utlltles $300 S300 S300 S3lXl S300 boo f<f.OOO Uilltle&- $300 $300 S300 .$300 $300 $300 $3,600

. 3 : 1 malarial • $700 $700 $700 i2.100 $700 S700 $700 $700 $700 $700 $8,3003< social media S500 $300 $300 $300 $300 $300 i2.000 0 00 $300 $300 $300 $300 $4,00035 .Renl $1,000 $1,000 $1,000 . $1,000 $1,000 $1.000 :A ftM e.;A $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $12,00036 property tax JO PIOllllrtYtax SO

, 37 1 ataff S3,50o S3.t5oo S3,5oo $3,50o S3..500 sa:soo S2f. 1 Siiif sMoo $3.500 $3,500 S3.500 S3.50o $3,1!00 542.000. 38 · ·service staff SO39 Banelil9 $1,000 $1.000 $1,000 $1,000 $1,000 $1.000 $6.000 $1,000 $1,000 $1,000 $1.000 $1.000 $1,000 $12.00040 $135 $135 $136 $675 $675 $945 $2.700 $945 $1.350 _$1,350 $1.350 $1,360 $676 $9.72041 broker ' SO iiitiitiiN SO42 1rade show expense SO $01 SO SO $0 $10.000 'show OXDIII'6G SO SO SO SO $10,000 $( $20.00043 freight $226 $225 $226 $1,126 $1,125 $10,000 $1,575 $2,250 $2.2150 $2,260 $2.250 S1.12l $24,6254, travar sz.ooo 12.000 12.000 S2:ooo ·52.000 sz.ooo nnn ....u..a S2.000 $2,000 .ooo $2,000 52.000 sz.ooc $24,0004J phone $250, $250 S250 5250 $250 $250 $250 $250 _§2e0 S250 $250 $251 13.000

S5.000 se.ooo ss.ooo S5.ooo ss.aoo ss:-ooo s:: .ooo 56.000, ss.ooo ss.ooo ss.ooo ss.IX sa.ooo seo.oooowner's $7,000 $7.000 -S7.00l $7.000 $7.0<10 $7.000 142.000. $7,000 $7,000 $7,000 $7,000 $7,1)( $7,000 $84.000 payroW ex- $4,185 $4,185 $4,18! $4,185 $4,1115 $4,185 $25,110 M. 85 $4,111li $4.185 $.4.18!5 $4,11 $4,185 S61l.220

I?lALCASH. -1: .,. : $27,470· $27 1;.0 ¥?1 135.710 $35,7'10 500.006 S557.238' T0TAI. CASH our $39,780 $45,385 $46,385 $46,3815 $55,31 $36.710 $828.268

: O:,,omlnu• $368.197 -522.970 -$22,770 423.770 :f ;;·.:- : ti 21.sOs :;_. ;;.6Wr1iln'inliS-io): ;280 ,_.,: .$385 .:. ..st38it 1'0.3851.. 6.210' $207.732,53 'ENDINGCA8H(3p1111521 $368,197 $345,2271 $322,457 $298,687 $285,471 $272,287$244,782 lENDING $236, $236,091 _$,712 $234.327' $223,942 $207,732

I 54 Enter loan amount in nne B6Iloan Interest rate I 10.00%I 56 Monthly Periods 3E $145,300

lmontnlw"3$636.323 'X\7 nA7 M

I 57 ;Monthly Loen PI $(1 'staf!'111g I 248.220 5207.067.00

1 staff S3.70C SS ,700 $; >,10( $3,70C 53.700 $3,10(r5ervTc8Siaff :OOC $2.00 $:!.000 $2.00C S2.000 l21IOC

17& &75 $76C $1,440 $1;275 $1.89(S50 $600 $600 S500 S50C

I000

Jr - =r:!upples { : : : : :

s1.ooc s<ooo

ss:oo

A B E F G H I J l N ,. a1 Comcii!'IV Name: . Canyovel 1 3 4 8 SUbtOiDf CoinoariVNama: 7 8 9 10 12 2ndVR

-Stl-i(i IL..oail-

IEaultv SOIEaultv0 !TOTAL CASHIN $0 $25.000 $25.000 $25.000 $48,000 542.600 163.000 S228.500ITOTAL CASH IN ses.ooo soo.ooc soo.()()(l s90.ooo s90.ooo sss.ooa ·s1m50C

IISUM &lhru tl

f2.l:ow: --- .··-·

I_ L ---,.L --·-,..·

I I ., . ,,-..>.. .,.,;c-.': .r:: 1s;;;:;c:t::-··"'4"" ··-:c '"

81! u =·=' =I 55101·500

llestlnii

19 08iWimlsuppl

· ==::i= :j s1. == 1.ooo :;s!.ooo == t= s1.o c t==;;J==;,;J=]- == ooS: :_: :: 1C

20 - ::" Si :mJ $!1.751: Se.750 $1: ,800 $1• S $79.9 lnvenlorv 122.05( S3f iOO $31.500 $31,500 $31]00 SU l5( $2•17.275 costaae S300 S300 SJOO 000 $1.8 DDS1aae S300 S300 S300 S300 S300 13.600 moalrs reiiiii(s- SOutUities S300 saoo 130o S3oo S3oc saoo ff.800 utJIItJes oo 300 Joo i3oo SJoo l3.6oc

25 1 materials S90C S900 "'00 $900 S90C S900 &5.400 1900 00 1900 i900 i90C $900 $10.1!1261Soclal $500 $500 1600 $500 S500 $500 13.000 1500 500 1500 1500 i500 $500 S6.C121tRen• Sf.OOC ST.ooo s·:ooo s1.ooo $f.!iOO S1.00iJ "' "'f :000 s1 m s1.ooo S1.ooo Sff.O

2l IDIO!Wt¥tax 1tax12 I staff $3.700 $3.700 $3.700 $3.7JO $3 "13.700 $44.4

131[3'

3:! limker

Sf2.0001CUsli)mer-aervlceSiitr $2,000 S2.ooo $2,000 $2,0)0 S2llOI: $2]00 52.4]-SB.855 11.890 Si:7 -$2,700 $2,7)0 S2,10C 11.6 U CiSS3.000lbroker S500 $5 lXI $5 $50IJ S500 SII.C

-....,....,expense $C $ f.!]O(J SO SO S10.00C S 1 show expense SO $2.lXI $f[OOij 5Cl S2H.( JO311 frekltlt S1 15C -S1 !50 $1 !50 $2.401 s: S1i i:O il;:ffiO S-4. $4,e 00 $4. S4.50t $2.750 14: 75

travel 11 ;oc 11 ;oo s1 ;oo S1,5C s S1 oo !travel -suloo i1:&i S1 51.5110 51.50< so s11 100:SIchone 10C 100 100 1301 S300 13 MIO 30 $300 S 001 se xx se )()() se )()() sE ,oo1 se 10 s oo 1.ooo S6.oo se se JOO Sf sn.ciOO

144 lENDING CASH (3 Dlua 52) $198-.232 S117.567 $161.62:1 S142.1n $139,34:1 $133.372 $121.237 II!!NDINO CASH (3 plu& 52l $148.057 $165,662 $196,76 $19' 872 S197.52714: IEnter loan amountIn line B8 1.000%

so

_!<Company Name: Cany M r

c 0_1_ 2

F _ G H J K4 ti Sl COITIJIIIIV Nama: 7

M N8 9 10 11

_p Q

TOTAlU1J.._8]2 ..!«!,3n ,!71.699 $18-0-!0- 51 $142,<40' $190,11!5 $181.267 i CASH $208,579 _j2 $326,843 $403,195 $465,747 $5!58,299

l..oan Loan9_IEQ<!ity L10 I TOTAL CASH IN _ $0 $50,000 $50,000 $50,000 $1!58,000 $87,!100 $136,000 S500,!500ITOTAL CASH INI1 ksu1u... .l !cauM•.,...,

$136.000 $220,000 $220,000 $221),000 $220.000 $90,000

$1$1

$1,615,!500

-*l= ts: . ,.. - ...1 -- I---- ,. I T'r:'; (••:r-:··J 1.._..-.;."' ( x;a... ,_p- ;;-'-··--····· --- p .7: ---:-:.;- :-:-=--T-._ -__ i. -

,_- _.1...._ __.. ·-_ _''--_- - _ _...."...

bl siJn!l = I e<ntV"' $10,000lJ, = S1. =

SO==

$0 ¥

51.000 = $0 = $0 $1 000 t $.2,000!500 === :

$0

= $0

: S1.00C =_10: :J $0 $1,000.soo!!

generalSl4lplles $100 $100 .11Q9 J1()() $100 $100 1600 aenarelauDDile& l_ll!l_ DOO $1_() 0 $100 $100 S1Insurance $3,385 $360 $360 $360_ _1360 $311!1 $5,165 _ i!llunlnce _ 110 I3EIQ_ $380 $360 $380tnVIII10rv $17.500 $17,1500 $17,500 $54,600 $23,625 $47,800 $178,325 IIMI"*"Y -7 !00 $77,000 $77,000 $77,000 $77,000 531poetaae $400 $400 $400 $400 $400 WJO $2, 400 p $400 $.400 $400 $400

$01

$5h800

_SOl:Z• oo 531 $301 S300 $300 1.800 o.diHesf2i rmllbll1ats $, 00 S'I,OC $1 $1,001 $1,000 $1,000 i,OC

$300$1,000

$300$1,000 $1, )() $1

_}3,800$1 $' _$12,000

2i social21 Rent28 property tax

S6l $110( $600 $600 6$1 $'1 ,01 51 $1.001 $1,000 $1.000

rime

$8110$1,000

$000$1,000

$1)()$1. s· $1

$7.200$12,0(

29 ISI!IIf.Cuatomer seM;e staff'broiler·

',400 '.400>2,500 1,5()(!>2,000 .000 i2,000 l,OI

$ iS_ ooc $0 .$' 1,01

ill1.alf·Mflliceatslf

$10,001

7.40002.500.000

03,8Xl

;88,9(i30,(

4,1

Iphone

$2,54l s: i2,5()( $7,800 $3,$2,5C s: $: 00 $2,

S4C S• 00

$1C 100s Ill

,phone

$8,8 $11 Ill $ 00 $11,011() $11,00( $4,$2,50 $2,500 00 $: iOO $2, $2.

oc 00

3.1ll,l

$4.800_ s1,oc s: s1 s; SJ s;

owner 's $7,5( f $7 50 S< OQ Sl - lowna sPavro Iaxpense $6,588 se 1188 se ,58 $1 iBII $E S [PexuMonthlY Loan Payment 1!1 l!l t Ill J!l I Monthly Loan Pllymant

$1$1 $1Sl $1

$1 DO $< $7, $7.$1'.5001 _!! iOI $7, $7,1500$11.511111 14 581 _$8, $8,588

JQI Jl 1!1

$84,000$90,0$111,0

14< ENDING CASt!{3 plu$ 621 $186,37: $171,899 $160.051 $142,403 $190,116 $181,267 $208,579 ENDING CASJi (3plu• 52)

$100,-4 $137,4' $143,4-481 $137,448 $147,<1 581.248 $1.246,

. :51- 2 --·si2:s52 - :;2 -w.5s2 'm2 - "'Si7s2'"" .·'· $380,ii7ii

$244,11?1 $326.643 $403.1 $485,74_7 .299 $587,051

noom lnllna1 46 Loan i 10.00%I -47 Monthly Periods 36

_ _ -4---- ----4-------------+----- ---+-------- ---- ---4------

NlmeSill

Size60:

bw-rlllco.t,_..r FII0.!98 0.586

TatiiCOit WLWo..s 1..684

S7.12.2S

liP M12.9.!.

qlllTe% 5000 1420 9llil

conditioner 6oz 0.589 0.586 0.5 1.875 7.1225 12.95 78'16 .5000 8575 9lllGel 6oz 0 11.586 0.5 1.575 7.12.2S 12.95 78% 5000 7875 8M3I.Dtk>ll-est Soz o.ss ll.S86 0.5 1.616 7.12.2S 12.95 77'K 5000 81110 8998SPF 22 for F- 3Ol 2.25 0.571 o.s 3.521 I.SUS uus 114% est 5000 1&605 18000SPF 30 for 8ocly 6 01. 2.75 0.586 0.5 3.836 10.4225 11.95 83'1(. est 5000 19180 21098Up8olm 0.15 0.65 0.51 1.16 3.8225 6.95 10% art 10000 111100 127li0

$80,255.00 8799!1Sa111pleSilasShamJIOO loz O.o9!1666661 0.471 0.3S 0.920667 2.1725 5.95 58% 10000 9Z05.666e67 10127r lot O.O!II166H7 0.471 o.ss 0.919167 3.1725 3.95 511% 10000 1191. 10110

Gel 1oz 0.01115 0.471 0.35 0.9025 2.1725 1.95 58% 10000 9015 9128IDtlon loz O.D91666667 0.471 0.35 0.91.2667 :uns 3.95 58'!1. est 10000 9U6.866H7 10039SI'F 30 for Body 101 !l.375 0.471 0.55 1.196 2.7US 4.95 5&% est 10000 11980 19156

$41!1,510.00 5»60Sola. StTVctuN

Cost Dlsccunr Dflt Wise SRI' $ 128,745.00 1413531.6 4.0404 s.o!05 8.4175 12.95

Millin 00%141353

I'ACXAGINS 101450Min OlY set up Cost/Unit frellht

ltCOtllbes 15000 0 0.47Toml coot Total cmt to purchue 140000

0.04 O.Sl S12.750,011 N500058780!

folseol follobel Frqtlt Total cost per Total cost to pu""-6 az tube 30000 0.131 0.55 0.015 O.D5 0.04 0.586 175803aztube 5000 0.131 0.3 0.05 0.05 D.o4 0.571 28551az be 50000 0.131 O.l D.05 0.05 0.04 0.71 23530

85000 S43,1M.OO

numboraf""""""cmtpert.TotolBlocMcrwcloble T< 7 1100Acpllc Tcodcl) NlotiJI 14 sooPETChllle..... NloafJa 7 350

3

420070002450

$13.e50.00

$30,000.00

lllodeltacfable T ' lnlllll Aqulltlc Tax PETChollenpCltiiOIItlncoral resttna

number of produ cost p.TotoINortt.st Lal 7 600 4200NIAIJI 7 SOD 3500

7 450 31506 3800 221!00

6 3100,...:2iM280ia0

Minimum tw Mob!Mel Purchasesn.m

5000 $15,000.00$ ·u;ooo.io Total Tettlnc $101,450.00

127,370.00 $ 101,450.00

Grant request for

Peace River Paddle Sports & Kuleana Adventures Inc.

We are requesting a $200,000 grant to help us continue to develop and market our line of adventure boats.

Thank you,

"=O'tl::::::::oo"'-/ , <t:..tG fi-""--.I!! : ;.;; ; - ; L .President of Peace River Paddle Sports & Kuleana Adventures Inc.

FinancialRequest

$200,000.00 as an Investment

Breakdown of proceeds:

Equipment $15,000Inventory $48,000Ucense/ fees/ permits $500Renovations $5,000Signage $1,000Utility Deposits $500Website $2,000Marketing and Training $20,000Working capitalfor first three

• Payroll

• Materials

• marketing

$108,000

TotalRequest $200,000

Company background

Business Description

Kuleana Adventures was formed in 2010 as a hobby by Trey Flemer to explore the possibility of developing and marketing a unique type of water craft used for multi-day camping trips.The result has been the Kuleana Expedition Windsurfer and the Kuleana line of expedition stand up paddleboards.

The business intends to design,build and distribute very unique and versatile water craft known as the Kuleana line of adventure paddleboards.

The legalstructure of our company is an S-corp.

Some legalliabilities exist in the form of end-user injury. Thi s liability is addressed through proper liability insurance,proper training of staff and through proper manufacturing processes that ensure a high quality,safe product.

6

· -

A B c D E F G H I1 ComName: STARTUP 1 2 3 4 5 6 Subtotal2 RIV9f' Packfle_SDOfts May ol3 June July August Sept Oct.

- lNG CASH $126,708 $326,708 $303,121 $274,934 $244,747 $217,810 $195,873• CASH JN:·

5 SALES. . : ..·

$06 Rentals $1,500 $1,000 $1,000 $1,000 $2,000 $2,000 $8,5007 Manufacturing $0 $0 $0 $5,000 $5,000 $10,000 $20,0008 Loan $200,000 $200,0009 EquJtt jQ10 TOTAL CASH IN $200,000 $1,500 $1,000 $1,000 $6,000 $7,000 $12,000 $228,50011 (SUM 5 thru I)

13 CASH OUT:T4 Startup Coats:

... .

I I I I I.. .

15 accounting $016 equipment $017 initialInventory $018 licenses/fees $019 renovations $020 sign $021 utility deposits $022 $023 $024 $025 Operating Elg)enses:26 accounting $150 $150 $150 $150 $150 $150 $90027 general supplies $1,000 $5,000 $5,000 $5,000 $5,000 $2,000 $23,000-q, Insurance $387 $387 $387 $387 $387 $387 $2,322

./ inventory repurchases $10,000 $10,000 $12,000 $15,000 $10,000 $4,000 $61,00030 office supplies $100 $100 $500 $500 $100 $100 $1,40031 ge $50 $50 $50 $50 $50 $50 $30032 repairs $1,000 $500 $200 $100 $200 $200 $2,20033 utilities -$600 $600 $600 $600 $600 $600 $3,60034 payroll $8,700 $8,700 $8,700 $8,700 $10,000 $10,000 $54,80035 dues and subscriptions $100 $100 $100 $200 $200 $200 $90036 advertising and motion $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $9,00037 small tools $1,000 $1,500 $1,500 $250 $250 $250 $4,75038 uniforms $100 $200 $100 $100 $100 $100 $70039 automobile fuel $400 $400 $400 $400 $400 $400 $2,40040 $041 ? $042 ? $043 ? $044 ? - -45 ? $046 ? $047 ? $048 owner's draw49 Monthly Loan Payment I IQ JQ JQ 10 .IQ, m lQ

l"OTAL CASH OUT $01 $25,087 $29,187 $31,187 $32,937 $28,9371 $19,937 $167,272(G\1..' .14 ttwu .ct) . .

52..

CASH FLOW (10 minus 50} I. $200,000 ·$23,5871 ..$28,187{ -$30,187 -$26,9371 -$21,937 -$7,9371 -$138,772

ENDING CASH 13 olua A2\.r4 Enter loan amount in line 88

$326,708 $303,121 $274,934 1 $244,747 $217,810 $195,873 $187,936

55 Loan Interest rate 0.00%56 Monthly Periods . 0

I 57 liontl!liLoan Payment I

,. : . .

,.

J K L M N 0 p Q

1 Comllf!I'!Y Name: 7 8 9 10 11 12 1stYR

--!Peace RiVerS-Oorts Nov Dec Jan 'rJI Feb March IApril TOTAL$187,936 $180,499 $168,312 $156,125 $147,938 $139,761.CASH IN• :'' ...".. ..; . •;,(

' .;:!!!'- • • ... .. • •.) • t ·'.,_ .., ·- ,· .. .. ' :::: :· -. ·. - .. ..5 SALES $06 $2500 $3,000 $3,000 $3,000 $3,000 $3,000 $26,0007 $10,000 $10,000 $10,000 $20,000 $20,000 $20,000 $110,0008 Loan $200,0009 Equity 12.10 TOTAL CASH IN $12,500 $13,000 $13,000 $23,000 $23,000 $23,000 $336,00011 (8UM5ChNI)

.. . . .

'•

13 CASH OUT: ·-----·.'·"i)' ..Startup Costa: I I I I I

..i .. .. .\·:

15 accountl_ng $016 equipment $017 initialInventory $018 licenses/fees $019 renovations $020 sign $021 utility $022 ? $023 ? $024 ? $025 Operating Expenses:26 accounting $150 $160 $150 $150 $150 $150 $1,80027 generalsupplies $2,000 $2,000 $2,000 $4,000 $4,000 $4,000 $41,000-q Insurance $387 $387 $387 $387 $387 $387 $4,644

j Inventory repurchases $4,000 $4,000 $4,000 $8,000 $8,000 $8,000 $97,00030 offiCe supplies $100 $100 $100 $100 $100 $100 $2,00031 $50 $100 $100 $100 $100 $100 $85032 repairs $200 $200 $200 $200 $200 $200 $3,40033 utilities $600 $800 $800 $800 $800 $800 $8,20034 payroll $10,000 $15,000 $15,000 $15,000 $15,000 $15,000 $139,80035 dues and subscriptions $200 $200 $200 $200 $200 $200 $2,10036 advertising and promotion $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $18,00037 small tools $250 $250 $250 $250 $250 $250 $6,25038 unifonns $100 $100 $100 $100 $100 $100 $1,30039 automobile fuel $400 $400 $400 $400 $400 $400 $4,80040 ?41 ?42 ?43 ?44 ?45 ?46 ?47 ?48 $049 Monthly Loan Pa nt IQ IQ _J.Q l_O JQ .iQ50 TOTAL CASH OUT I $19,937 $25,187 $25,187 $31,187 $31,187! $31,187 $331,14451(SUII141hru 41) . . .52CASH FLOW (10 minus SO) -$7,437 -$12,187 -$12,187 -$8,187 -$8,187 -$8,187 -$195,144

ENDING CASH (3 plus 62) $180,499 $168,312 $156,125 $147,938 $139,751 $131,564- of

555657

$2.]50

A B c D E F G H I1 ComJ)Sny Name: CanyOver 1 2 3 4 5 6 Subtotal2 Peace River Paddle rts May June July August Sept October... BEGINNING CASH $131,564 $131,564 $119,027 $110,740 $101,453 $97,066 $92,179

ICASH IN:

5SALES' . . . .

$06 Rentals $4,000 $4,000 $4,000 $3,600 $3,000 $3,500 $22,0007 Manufacturing $20,000 $25,000 $25,000 $30,000 $30,000 $30,000 $160,0008 Loan $09 Equity J.Q

10 TOTAL CASH IN $0 $24,000 $29,000 $29,000 $33,500 $33,000 $33,500 $182,00011 (SUM I thna I)12 I13CASH OUT!

14Startup Coats: I ! I I .15 accounting $016 equipment $017 initialinventory --$018 licenses/fees $019 renovations $020 sign. $021 utility deposits $022 food $023 $024 land $025 Operating ExpenHS:26 accounting $150 $150 $150 $150 $200 $200 $1,00027 general supplies 000 $5,000 $5,000 $5,000 $5,000 $5,000 $29,000

" insurance $387 $387 $387 $387 $387 $387 $2,3224 inventory repurchases $8,000 $8,000 $9,000 $9,000 $9,000 $9,000 $52,000

30 office supplies $100 $50 $50 $50 $50 $50 $35031 $50 $50 $50 $50 $50 $50 $30032 repairs $350 $200 $200 $200 $200 $200 $_133 utilities $600 $600 $600 $600 $600 $600 $3,60034 payroll $20,000 $20,000 $20,000 $20,000 $20,000 $20,000 $120,00035 dues and subscriptions $300 $300 $300 $300 $300 $300 $1,80036 EX1vertislng and promo $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $9,00037 small tools $500 $500 $500 $100 $100 $100 $1,80038 uniforms $200 $100 $100 $100 $50 $50 $60039 automobile fuel $400 $450 $450 $450 $450 $45040 ? $041 ? $042 ? $043 ? $044 ? $045 ? I $046 ? $047 ? $048 owner's draw I $049 f.lont ly Loc;ln Payment .JQ 10 Io 10 JQ 10

,so TOTAL CASH OUT I $0 $36,637 $37,2871 $38,287 $37,887 $37,887 $37,887 $225,772

JJ. (8Uf.l1Ulni.O)

5 CASH FLOW (10 minus 50) I $0 -$12,537 -$8,2871 -$9,287 -$4,3871 -$4,887 -$4,387 -$43,772ENDING CASH (3 pluc 52) $131,564 $119,027 $110,740 $101,453 $97,066 $92,179 $87,792

.A Enter loan amount in line 88 II 55 Loan Interest rate 10.00% I

56 MonthlY Periods 36 I

-=- SALES... ..: . ' :·. .. - ·

1-

--

J K L M N 0 p Q1 Company Name: 7 8 9 10 11 12 2ndYR2 Peace River Paddle Sports Nov Dec Jan 15 Feb March April TOTAL

BEGINNING CASH $87,792 $84,605 $81,918 $79,231 $77,044$74,857

cASitiN: . ;: ::i '.i··- ·.··:-t .,{. '., ' : ·- .. r:. - · .J o •·' : (.

5 $06 Rentals $4,000 $4,500 $4,500 $5,000 $5,000 $5,000 $50,0007 Manufacturing $30,000 $30,000 $30,000 $30,000 $30,000 $30,000 $340,0008 Loan $09 Equity IQ10 TOTAL CASH IN $34,000 $34,500 $34,500 $35,000 $35,000 $35,000 $390,00011 (SUM II thru I)

ASHour:·I I I • .

. -:·•:.:...,

- .. ; '·14 Startupeo.ta: I I I I I I15 accounting $016 equipment $017 initial Inventory $018 licenses/fees $019 renovations $020 sign $021 utility deposits $022 ? $023 ? $024 ? $025 Oper tlng Expenses:26 accounting $200 $200 $200 $200 $200 $200 $2,20027 general supplies $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $59,000' insurance $387 $387 $387 $387 $387 $387 $4,644

..J inventory repurchases $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $100,0003D office supplies $50 $50 $50 $50 $50 $50 $65031 postage $50 $50 $50 $50 $50 $50 $60032 repairs $300 $300 $300 $300 $300 $300 $3,15033 utilities $800 $800 $800 $800 $800 $800 $8,40034 $20,000 $20,000 $20,000 $20,000 $20,000 $20,000 $240,00035 $300 $300 $300 $300 $300 $300 $3,60036 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $18,00037 ? $100 $100 $100 $100 $100 $100 $2,40038 ? $50 $50 $50 $50 $50 $50 $90039 ? $450 $450 $450 $450 $450 $450 $5,35040 ?41 ?42 ?43 ?44 ?45 ?46 ?47 ?48 owner's draw $049 Monthly Loan Payment IQ 10 lQ 10 10 IQI IQ50 TOTAL CASH OUT $37,187 $37,1871 $37,18_71 $37,187 $37,187 $ 7,1871 $448,894

(SUII14 thrU 41)I 52 CASH FLOW (10 min•50) -$3,187 -$2,687 ..$2,687' -$2,187 -$2,187l . -$2,1871 -$58,894

ENDING CASH (3 plus 52) $84,605 $81,918 $79,231 $77,044 $74,857 $72,670 o4 I

5556 I

55

.

A B c D E F G H1 Company Name: Canyover 1 2 3 4 5 62 Peace River Paddle Sports May June July August Sept Oct-,

&£GINNING CASH $74,857 $74,857 $76,620 $77,883 $73,383 $73,883 $75,133CASHIN: ., j

TSALES.. .. ..

6 Rentals $6,000 $5,500 $5,000 $5,000 $5,500 $6,0007 Manufacturing $35,000 $35,000 $30,000 $35,000 $35,000 $35,0008 Loan9 Equity10 TOTAL CASH IN $0 $41,000 $40,500 $35,000 $40,000 $40,500 $41,00011 (SUM I thru 8)

..Q. CASH OUT:14 Startu_p Coel: I I I I15 accounting16 equipment17 initialinventory I18 licenses/fees19 renovations20 sign21 Utility deposits22 food2324 land25 Operating : I26 accounting $200 $200 $200 $200 $200 $20027 generalsupplies $14,000 $14,000 $14,000 $14,000 $14,000 $14,000... insurance $387 $387 $400 $400 $400 $400-d Inventory repurchases $1,000 $1,000 . $1,000 $1,000 $1,000 $1,00030 Office suppljes $100 $100 $100 $100 $100 $10031 postage $50 $50 $50 $50 $50 " $5032 repairs $250 $250 $500 $500 $260 $25033 utilities $800 $800 $800 $800 $800 $80034 payroll $20,000 $20,000 $20,000 $20,000 $20,000 $20,00035 dues and subscriptions $300 $300 $300 $300 $300 $30036 advertising and promo $1,500 $1,500 $1,500 $1,500 $1,500 $1,50037 small tools $100 $100 $100 $100 $100 $10038 unlfonns $50 $50 $50 $50 $50 $5039 automobile fuel $500 $500 $500 $500 $500 $50040 ?41 ?42 ?43 ?44 ?45 ?46 ?47 ?48 owne,.s draw49 Monthly Loan Payment iQ JQ to 10 IQ JQ50 TOTM.. CASH OUT $0 $39,2371 $39,237 $39,500 $39,500 $39,2501 $39,250

(SUtl14 thru 48) .52 CASH FLOW_{10 minus 6Ctl_ $0 $1,7631 $1,2631 -$4,500 $500 $1,250 $1,750

ENDING CASH (3 olus 52l $74,857 $76,620 $77.883· $73,383 $73.883 $75,133 $76,883Enter loan amount in line 88 ILoan interest rate 10.00% J

56 Monthly Periods 36

I : ···.'·

··-;·.

I J K L M N 0 p1 Subtotal l\.iOmP8nY Name: 7 8 9 10 11 122 !Peace River Paddle Sports INov Dec Jan r J £ Feb March April

BEGINNINGCASH $76,883 $79,133 $81,333 $83,783 $86,48 $90,083:..'. ·.• :" ,-_. I'&AKIU. .... . :·'' ."-.(·-.'·•·J,

..\ - t: . . -::·-')_:'·!,

$0 SALES6 $33,000 Rentals7 $205,000 Manufacturing_8 $0 loan

$6,500$35,000

$6,500 $7,000 $7,000 $7,000 $7,000$35,000 $35,000 $35,000 $35,000 $35,000

9 IQIEqulty10 $238,000 TOTAL CASH IN11 (SUM 51hru I)

$41,500 $41,500 $42,000 $42,000 $42,000 $42,000

... ·. · OUT: .i .. • -14 Startup Costa:15 SO accounting16 $0 equipment17 $0 initialI,.._,...rt;;.,-118 so licenseslfees19 SO renovations20 $0 sign21 $0 utility deposits22 $0?23 $0 ?24 $0 ?25 Operating26 $1,200 accou $200 $200 $200 $200 $200 $20027 $84,000 generalsupplies $14,000 $14,000 $14,000 $14,000 $14,000 $14,000

' · $2,374 insurance . $400 $450 $450 $450 $450 $450_J $6,000 inventory repurchases $1,000 $1,000 $1,000 $1,000 $100 $1,00030 $600 office suppl_les31 $300

$100$50

$100$50

$100$50

$100$50

$100$50

$100$50

32 $2,000 repairs $25033 $4,800 utilities $800

$250 $500 $250$800 $800 $800

$250 $250$800 $800

34 $120,000 payroll $20,000 $20,000 $20,000 $20,000 $20,000 $20,00035 $1,800 duesand subscription $300 $300 $300 $300 $300 $30036 $9,000 advertising and promo $1,500 $1,500 $1,500 $1,500 $1,500 $1,50037 $600 small tools $100 $100 $100 $100 $100 $10038 $300 uniforms $50 $50 $50 $50 $50 $5039 $3,000 automobile fuel40 $0 ?41 $0 ?42 $0 ?43 $0 ?44 $0?

1 45-- $0?46 $0 ?47 $0 ?48 $0 owner's draw

$500 $500 $500 $500 $500 $500

49 Momh , L --n P.- -- --r--------- =o ---=io ---.m=r-------- 0.. $235,974!TOTAL CASH OUT $39,2501 -$=3=,9-=!30 0=+--- $=3=9-=,550 ----:$=3-=-9,-=3001 ---;$;=38-=---,:40>:0 --:::$3=9=-,30 051 (SUMi41hru .. ) - . · -· .. -52 $2,026ICASH FLOWj10 mlnua 50) $2,250 $2,200 $2,450 $2,700 $3,6001 $2,700

1 "" ENDING CASH (3 plus 52) $79,133 $81,333 $83,783 $86,483 $90,083 $92,783

5556

rst

.

Q

1 3rdYR

.2... TOTAL

{""'"5'=- $06 $74,0007 $415,0008 $09 lg10 $489,00011

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capitalExpense Paddle Board Painting Landscaping Paving

Total

Incubator$ 55,700.49$ 18,000.00

$ 73,700.49

9/3/2014 Incubator - Fill AreaAdditionalEquipment/Supply list

Peace RiverEquipment & Supplies Incubator Fill Une Stream 2 Sea Peace River Bees Paddle Sports

EquipmentBlender Tip for Drill - SS Blades

Small tools and supplies BarrelWarmer

lid for 200 Gal.Kettle {Roman)Lab supplies

Colloid Machine

Trailer

Sails and Supplies

Tools

Equipment

Total

$ 100.00$ 700.00$ 250.00$ 500.00$ 2,500.00

$ 16,900.00

$ $ 20,950.00 $ $

$ 1,000.00

$ 2,000.00

$ 6,298.00$ 15,000.00

$45,248.00

SuppliesDesks $ 150.00 $ 100.00

Computers $ 1,000.00 $ 600.00Phone System $ 7,956.35

ServerMiscellaneous Office Supplies $ 1,000.00 $ 50.00

Business Software $ 2,200.00 $ 200.00Network

Total $ 8,106.35 $ 2,200.00 $

TotalEquipment & Supplies $ 8,106.35 $ 23,150.00 $

2,000.00 $ $ 950.00 $ 13,256.35

2,000.00 $ $ 25,248.00 $ 58,504.35

Overhead Incubator Fill Une Stream2Sea PR Bees PR Paddle SportsUtilities

Water/SewerInsurance $ 15,000.00 "·.•·

J'.: :1_ $ 3,000.00 $ 1,500.00 $ 2,830.00

Maintenance $ 3,000.00 $ 9,000.00 $ 2,000.00Property Tax $ 18,557.52

Security $ 3,600.00Landscaping $ 1,200.00

Garbage $ 3,600.00Pest Control $ 2,100.00

licenses & Fees $ 3,500.00ProfessionalFees $ 3,000.00 $ 6,000.00

Totals $ 68,557.52 $ 18,000.00 $ 12,500.00 $ 1,500.00 $ 4,830.00 $ 105,387.52

Staffing Innovation Place Fill Line Stream2Sea PR BeesSales/Telemarketni g $ 15,000.00 $ 50,000.00Admin/Bookkeeping $ 30,000.00 $ 4,800.00Customer Service $ 18,750.00 $ 20,000.00

Operations Manager (Production) $ 60,000.00Production $ 22,500.00

Production/Facilities $ 40,000.00Management $ 132,000.00

Office Management s 37,500.00Payroll Expenses $ $ 38,125.00 $

Trani ingHealth Insurance ,- - - . - -

Total $ $ 213,315.00 $ 274,462.50 $ 84,600.00

Notes:Offer for 5% commission on sales to be paid by the companies directly;this servci e Is offered as an option*CS and Sales pulled from yr 1S2S budget

*This may not be necessary in yr 1.

Marketing/Sales Incubator Fill Une Stream2Sea PR Bees PR Paddle Sports

Marketing Materials $ 1,000.00 $ 20,000.00 $ 3,000.00 $ 4,000.00

Website/Social Media $ 22,000.00 $ 10,000.00 $ 2,000.00launch Marketing Campaign $ 15,000.00

Advertising /Marketing $ 20,000.00 $ 500.00

Trade Show Expense $ 20,000.00 $ 8,000.00 $ 6,500.00Travel $ 20,000.00 $ 10,000.00

Booth Set up/Design $ 8,000.00 $ 8,000.00

Community Events $ 1,000.00

Total $ $ 1,000.00 $ 105,000.00 $ 59,000.00 $ 14,000.00 $ 179,000.00

Product Development Incubator Fill Line Stream 2Sea PR Bees PR Paddle SportsInventory $ 162,000.00 $60,000.00

Testing $ 85,000.00 $16,000.00Pollen Traps $ 4,000.00

Propolls Traps $ 600.00Venom Collector $ 1,875.00

research and development $12,000.00Manufacturing Supplies $ 5,000.00 $ 20,679.00

Total $ $ 5,000.00 $ 247,000.00 $94,475.00 $ 20,679.00 $ 367,154.00

Total Expenses $ 150,364.36 $ 260,465.00 $ 640,962.50 $ 239,575.00 $ 187,957.00

Budget Incubator Fill Line Stream 2Sea PR Bees PR Paddle Boards

Equlpment/SuppHes $ 8,106.35 $ 23,150.00 $ 2,000.00 $ $ 25,248.00Staffing $ $ 213,315.00 $ 274,462.50 $ 84,600.00 $ 123,200.00

Marlcl!tlng& Sales $ $ 1,000.00 $ 105,000.00 $ 59,000.00 $ 14,000.00

Product Development $ $ 5,000.00 s 247,000.00 $ 94,475.00 $ 20,679.00Overhead $ 68,557.52 $ 18,000.00 $ 12,500.00 $ 1,500.00 $ 4,830.00

capitalExpense $ 73,700.49

$ 1,479,323.86

Remafnl"-Grant Funds $ 20,676.14

EXHIBITC

Criteria for Measurement of Achievement of Terms Agreed to Under theInfrastructure Program

FinancialReporting Procedures for Quarterly Reports and Reimbursement

The financial reporting procedure establishes guidelines for grant funds

disbursed through the EDA. The procedures set forth principles for detennlning eligible

costs, supporting documentation and minimum reporting requirements to assist both

parties in receiving appropriate and timely reimbursement.

Grant funds shall be reimbursed In accordance with good cash management

principles as identified by Jaw. The reimbursement shall include only expenditures

related to the project elements and the period as identified in the agreement. The

Business shall submit the attached quarterly progress report and reimbursement

request forms to request reimbursement on an annual quarter1y basis. The fonns must

contain all the information as requested. Each cost should clearly reflect the project

element and a brief description of work performed. The office shall retain up to 10% of

its obligations to ensure compliance with agreement terms and conditions. Retained

funds shall be released upon satisfactory completion of the project.

Documents that support the reimbursement shall be retained as described in

Section 7.0 of the Agreement.

2

Reimbursement Request Package

Recipient DetailsGrant/Recipient

2. Project Number Date of Request

3. Disbursement Request Number

4. Type of Request: Partial Anal

5. Federal Employer Identification Number

6. Send Remittance to:

Reimbursement Details(Cumulative amounts)

1. Architecturaland Engineering (attach invoices)

2. Permitting (attach invoices)

3. Construction and/or Demolition (attach !nyo!ces)

5. other (list - must be specified in agreement)

6. Total Cumulative to Date

7. Less Retalnage (10%) (not required for government entlties)

8. Less Previous Disbursements

9. Amount requested for disbursement (line 6 minus line 7 & 8) _$;:;...... _

Requests for Invoices already Paid:1) Copy of Invoice2) Proof of Payment

*"SUBMIT ONE ORIGINAL COPY OF THIS FORM AND SUPPORTING DOCUMENTATION TO: **

Hardee County Economic De\lelopment AuthorityC/0 County Manager's Office412 W.Orange St., Room 103

Wauchula,FL 33873863-n3-9430 Phone; 863-n3-0958 Fax

'·

3

Business Agreement AdministratorCertification of Reimbursement Request

(name of Grantee's Business Agreement Administrator designated in the Agreement)

on behalf of ,do hereby certify that:

(name of Grantee/Recipient)

1. The disbursement amount requested on page 1 of this form is for allowable costs for the projectdescribed in the Agreement.

2. Materials,labor, equipment, and/or services representing costs Included in the amount requested have been satisfactorily purchased, performed or received, and applied toward completing the project; such costs are documented by invoices or other appropriate documentation, which are filed In the Grantee's permanent records.

3. The Grantee is required to pay such costs under the terms and provisions of contracts relating directly to the project, and the Grantee is not in default of any tenns or provisions of the oontracts.

4. Allfunds received to date have been applied toward completing the project.

5. All permits and approvals required for the construction, which is underway,have been obtained.

(Signature of Business Agreement Administrator)

(Date)

4

PROJECT STATUS REPORT

ProjectNAME:

Project---------------------------Num :

PROJECT ELEMENTS WORK ACCOMPLISHED %COMPLETED

PROBLEMS ENCOUNTERED/COMMENTS

Period Covered{Check Appropriate Period)

January through March April through June July through September October through December

Due April 15th Due July 15th Due October 1&!' Due January 15111

Business Agreement Administrator:----------=----:---------=- ----Signature Date