HomeMy WebLinkAbout05-24-19 Correspondence - Montana Department of Commerce to Andrus - BSTF Grant Award for Swarming Technology, LLC TARA RC
BULLOCK
D REC O'R E M O N T A N A STEVE GOVERNOR
DEPARTMENT OF COMMERCE
May 24, 2019
Mayor Cyndy Andrus
City of Bozeman
PO Box 1230
Bozeman MT 59771-1230
RE: Montana Department of Commerce, Big Sky Economic Development Program
Contract# MT-BSTF-1-19-25, Swarming Technology, LLC
Dear Mayor Andrus;
As indicated by Governor Bullock's letter dated May 14, 2019, your application to the Big
Sky Economic Development Trust Fund (BSTF) Job Creation Program has been
approved for funding.
The Montana Department of Commerce has tentatively approved an award of up to
$30,000.00 in BSTF Job Creation funding to be used as follows:
• Up to $27,600.00 (or $4,600.00 per net new job) to assist Swarming Technology, LLC
with the purchase of equipment, furniture, fixtures and wage reimbursement.
Swarming Technology, LLC agrees to create 6 net new full time jobs that meet the
BSTF required wage rate of at least $20.23 per hour before the value of benefits is
added. Job creation activities may take place as of May 9, 2019. The contract period
for this project is May 9, 2019 to May 9, 2020. 60 days prior to contract expiration, a
review of the hiring plan will take place to determine the eligibility of a contract
extension. Consideration of the second year hires is also contingent on the availability
of BSTF funds. In addition, a contingency has been placed on this award, pending
receipt of the following financial statements:
2017 - Profit & Loss (P/L) & Cash Flow (CIF);
- Interim Statements -Balance Sheet (B/S); P/L & CIF;
- 24 months of projections - B/S; P/L & CIF (currently have 21 months); and
- All statements must fiscally align.
• Up to $2,400.00 (or $400.00 per net new job) for eligible administrative expenses.
Please contact the Montana Department of Commerce prior to making any public
announcement to the media.
A contract will be sent to you electronically using DocuSign for signature.
COMMERCE.MT.GOV
301 S. PARK AVE. I PO BOX 2005331 HELENA, MT 59620-0533 1 P:406.841.28701 F:406.841.2871 1 TDD:406.841.2702 1
I
Please keep in mind that once information is submitted to the Department, the information
is subject to the public's right to know pursuant to Article II, Section 9 of the Montana
Constitution.
The Department reserves the right to withdraw a commitment of any BSTF funds for
projects that have:
1. Not provided all requested contract information, including the job creation
baseline and certification report within 30 days of the date this letter, and/or;
2. Not returned the BSTF contract to the Department within 30 days of receipt
of the final contract, and/or
3. Are not ready to proceed within 90 days after the date of tentative award.
Alyssa Townsend has been assigned as your BSTF Program Specialist, and she can be
reached at a}hQ- mt.gov or Ny phone at (40EN 841-27_r8.
An onboarding conference call with the assisted business will be scheduled in the next
week. At this meeting, the Department will review the application and the receive
assurance from the business towards committing to the project. Additionally, the assisted
business will need to certify the number of jobs in a baseline job creation report.
If you have any questions, please contact Alyssa. Again, congratulations. We look
forward to working with the City of Bozeman on this project.
Sincerely,
6
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Annmarie Robinson
Section Manager, BSTF and WTG Programs
Montana Department of Commerce
cc: Steve Krezminski, Swarming Technology, LLC
Paul Reichert, Prospera Business Network