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Caswell County approves $14,000 local match for prorated Riverside Furniture grant
Summary
The board approved a prorated closeout of a $100,000 grant to Riverside Furniture. Because performance targets were not fully met, the grant was prorated to $56,000 and the county approved a $14,000 local match to complete the disbursement.
Caswell County commissioners voted Jan. 20 to approve a final local match of $14,000 for a prorated grant to Riverside Furniture.
Staff explained the original grant was $100,000, with the state expected to provide $75,000 and the county to match $25,000. Because Riverside did not meet all performance targets tied to job creation, the grant was prorated to a final $56,000 total payout: a $42,000 state share and a $14,000 county share. Staff said the county's funds for the match had already been appropriated in prior budgeting.
Finance staff reported Riverside met roughly "76%" of the grant's overall performance target, which drove the proration. The board moved to approve the prorated grant match and to designate an authorized official to take administrative steps to close out the grant; the motion passed.
Commissioners asked whether the county had previously granted extensions to Riverside; staff responded an extension had been granted but the company still did not reach the 100% target. Staff said they would provide the detailed job target numbers on request.
