- 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 invoices / receipts must be provided to MCDC to ensure compliance with state statute and the terms of the performance agreement. Once verified, MCDC will process check requests for payment. Grantee must maintain financial books and records of the funded Project / Promotion / Community Event and of their operations as a whole for at least two years after the conclusion of the Project / Promotion / Community Event 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 / Promotion / Community Event.
- Grantee may be required to provide written quarterly reports on the status of the Project / Promotion / Community Event to MCDC.
- Within 30 days of the completion of the funded Project / Promotion / Community Event, Grantee will submit a final report that includes detailed information on the performance of the Project / Promotion / Community Event; performance against the metrics established in the grant application; visual representation (photos, printed promotions and collateral, etc.) that documents all requirements of the performance agreement were fulfilled; and any outstanding receipts for expenditures included under the scope of the grant. An oral presentation to the board on the completed Project / Promotion / Community Event may be requested.
- Grantee must recognize McKinney Community Development Corporation as a sponsor / funder of the Project / Promotion / Community Event in all advertising, publicity and promotional vehicles, using the following (or substantially similar) verbiage:
“This (Project / Promotion / Community Event) is funded in part by the McKinney Community Development Corporation.”
MCDC will provide camera-ready logo art for placement on promotional and publicity materials.