- Each approved project will require the execution of a performance agreement with MCDC. The agreement ensures applicant acknowledgement of all requirements and that funds are expended in accordance with conditions outlined and provides recourse to MCDC in the event of default.
- Funds for approved grants will be expended on a reimbursement basis. Copies of paid invoices / receipts, along with a formal letter requesting reimbursement, must be provided to MCDC to ensure compliance with state statutes and the terms of the performance agreement. Once verified, MCDC will process the request for payment.
- Reimbursement requests for advertising, marketing and promotional expenses related to a Promotional and Community Event Grant must include samples of marketing and advertising materials.
- Grantee must maintain financial books and records of the funded Project / Retail Development Infrastructure improvement / Promotional / Community Event and of their operations as a whole for at least two years, should MCDC or the City of McKinney require an audit. The books and records must be available upon request, and create a clear audit trail documenting revenues and expenses of the funded Project / Promotional / Community Event.
- Grantee may be required to provide periodic, written reports on the status of the Project / Retail Development Infrastructure improvement / Promotional / Community Event to MCDC.
- Within 30 days of the completion of the funded Project / Retail Development Infrastructure improvement / Promotional/Community Event, Grantee is required to submit a final report that includes detailed information on the activity; performance against the metrics established in the grant application; visual representation (photos, printed marketing, advertising and promotional materials and collateral, etc.) that fulfills all requirements of the performance agreement; and any outstanding receipts for expenditures included under the scope of the grant. An oral presentation to the board on the completed Project / Retail Development Infrastructure improvement / Promotional /Community Event may be requested.
- Grantee must recognize McKinney Community Development Corporation as a sponsor / funder of the Project / Retail Development Infrastructure improvement / Promotional/Community Event in all advertising, marketing, publicity, outreach and promotional materials, using the following (or substantially similar) verbiage:
“This (Project/Promotional/Community Event) is funded in part by the McKinney Community Development Corporation.”
MCDC will provide camera-ready logo art for placement on advertising, marketing, promotional and publicity materials.
Grantee must submit all advertising, marketing, outreach and promotional materials and items to MCDC for review / approval prior to production.