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Technology Dc~ elopmcnt Grant Fund Grant Agreement <br />1 . S? million f~>r the purpose of constructing a business incubator on the lP (ce '~D site <br />2. City to submit Quarterly Progress Reports (to be supplied by 'qD) <br />3. City can Sub-Grant to l~D. but City will remain responsible to State (our Sub-Grant <br />Agreement ~~~ith ND ~a~ill pass on all State requirements to i~'D, so ND «~ill be responsible <br />to City) <br />4. Business incubator constructed ~~ ith State Grant Funds must remain an incubator for <br />the usefid life of the building (as defined by IRS depreciation schedules). and this <br />requirement is being passed on to ND <br />5. City ~~~ill submit claims to State based on claim documentation pro~~ided by 1~'D. and <br />~~-hen City recei~~cs State funds the City ~~~~i11 issue check to ~~D <br />