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agreement. This may be originated by the Grantee and provided to the City. A copy of Grantee's <br />Certified Payroll for the period immediately prior to executing this Agreement must accompany <br />the Baseline Employment Summary; <br />ARTICLE 11 - THE GRANT <br />Section 2.01 The Grant and Rebate Structure <br />AMOUNT OF FINANCING: Rebates up to 25% of total eligible costs, not to exceed a maximum of $100,000. <br />ELIGIBLE USE OF PROCEEDS: Permanent building repairs /renovations and interior improvements to bring the <br />space into compliance with building code. Eligible improvements shall include: <br />structural repairs /renovations, electrical, plumbing, and HVAC work. <br />OTHER CRITERIA: - Demonstrated ability to complete project. <br />- Grantee must complete all improvements within five (5) years of <br />approval. <br />- Grantee may submit invoices for eligible improvements and certified <br />payroll up to once a year. Rebate will be issued based on project costs <br />and job creation since the last rebate issuance. <br />- All property taxes must be paid up to date at the time of each rebate <br />application. <br />- Project space must be inspected by the City prior to each rebate issuance. <br />Section 2.02 Disbursement of Grant Funds <br />A. Requirements for Disbursement: <br />(i) The grant funds shall not be disbursed until Grantee has submitted to the City, and had <br />accepted by the City, any certificates, documents and instruments required by this Grant <br />Agreement or Documents in forms satisfactory to the City and its attorneys; and <br />(ii) The grant funds shall not be disbursed until Borrower has submitted to City, and had <br />accepted by the City, evidence of payment or an invoice for materials or services in <br />connection with the Project. <br />B. City to Disburse Funds to Borrower: <br />Upon receipt of the above information required in Section 2.03(A)(i)(ii), and any other requirement set <br />forth by this Agreement, the City shall disburse Grant Funds to the Grantee for eligible costs, as listed in <br />Section 1.02. <br />C. Disbursement Checks: <br />The Rebate disbursement check shall be mailed to the following address until otherwise specified by <br />the Borrower: <br />Page 4 of 22 <br />