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101411113 t <br />COMPENSATION/PAYMENT <br />ATTACHMENT B <br />COMPENSATION/PAYMENT <br />Santa Ana CARES Small Business Grant <br />AUGUST 1, 2020 - OCTOBER 31, 2020 <br />I. Compensation: This is a cost reimbursement service CONTRACT between the CITY and the <br />CONTRACTOR for Santa Ana CARES Small Business Grant as set forth in Attachment A — <br />Scope of Work. The total CONTRACT amount shall not exceed $2,485,600 ($2,390,000 <br />allocated for Grant Awards and $95,600 allocated for a 4% Service Fee of total grants funds <br />issued) <br />The CONTRACTOR agrees to accept the specified compensation as set forth in this <br />CONTRACT as full remuneration for performing all services and furnishing all staffing <br />labor, insurance requirements and taxes required, for any reasonable unforeseen difficulties <br />which may arise or be encountered in the execution of the services until acceptance, for risks <br />connected with the services, and for performance by the CONTRACTOR of all its duties and <br />obligations hereunder. The CONTRACTOR shall only be compensated as set forth <br />hereinbelow for work performed in accordance with Attachment A - Scope of Work. <br />II. Payment Terms: <br />Upon the effective date of this CONTRACT, CITY shall make payment to CONTRACTOR in <br />accordance with the following payment schedule: <br />A. Grant Award — Payments: At the sole discretion of CITY, payments to CONTRACTOR <br />may be made more frequently than monthly for the distribution of Grant Award funds to <br />businesses, but such payments shall be issued upon application approval but prior to grant <br />disbursement so long as the total Grant Award payments under this CONTRACT do not <br />exceed $2,390,000. The following process of Grant Award payments will be utilized: <br />a. CONTRACTOR will provide an invoice with a list of approved grant applications <br />b. CITY wire funds to CONTRACTOR within one (1) business day <br />c. Contractor will disburse Grants Award to businesses within one (1) business days <br />of receiving funds from CITY <br />B. Service Fee Payments - Services: CONTRACTOR will submit an invoice to receive an <br />upfront payment of $19,120 (20% of the 4% contract service fee). Subsequent invoices <br />will be combined with Grant Award payment request. CONTRACTOR will include a <br />4% service fee based on total disbursement amount for Grant Awards with each invoice. <br />23 <br />