HomeMy WebLinkAbout05-24-19 Correspondence - Montana Department of Commerce to Andrus - BSTF Grant Award for LumenAd, Inc. 4�
TARA RICE ` M O N TA N A STEVE BULLOCK
DIRECTOR GOVERNOR
DEPARTMENT OF COMMERCE
May 24, 2019
Mayor Cyndy Andrus JS7 `
City of Bozeman
PO Box 1230
Bozeman MT 59771-1230
RE: Montana Department of Commerce, Big Sky Economic Development Program
Contract # MT-BSTF-1-19-24, LumenAd, Inc.
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
$60,000.00 in BSTF Job Creation funding to be used as follows:
• Up to $55,200.00 (or $4,600.00 per net new job) to assist LumenAd, Inc. with the
purchase of equipment, furniture, fixtures and wage reimbursement. LumenAd, Inc.
agrees to create 12 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 items:
- 24 months of projections for the Balance Sheet, Profit & Loss and Cash Flow
Statements ;currently have only 21 months) and all statements must fiscally
align;
- Lease rate reduction is an ineligible use of BSTF funds; and
- Verification when the business officially changed it name. If prior to 111118, the
business must provide the 2017 historical statements.
• Up to $4,800.00 (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.
COMMERCE41T.GOV
301 S. PARK AVE. I PO BOX 2005331 HELENA, MT 59620-0533 1 P:406,841.2870 1 F:406.841,2871 1 TDD:406.841.2702
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 ath(a),mt.gov or by phone at (406) 841-2748.
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,
nn arie Robinson
Section Manager, BSTF and WTG Programs
Montana Department of Commerce
cc: Jeannine Widmann, LumenAd, Inc.
Paul Reichert, Prospera Business Network