Board discusses performance agreements and oversight for grants
Members reviewed how JEDCO has historically structured grants through economic development agreements requiring documentation of capital improvements and employment targets; members said invoices and pay applications are used to verify progress and compliance.
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Board discussion clarified that JEDCO typically attaches performance requirements to grant awards through economic development agreements that specify capital improvements and employment targets. One board member read from the application materials: "JEDCO will require that the company provide proof of all real and personal improvements that will be agreed to in the economic development agreement."
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