HomeMy WebLinkAbout19- Amendment A to Business Assistance Agreement - Department of Commerce - Big Sky Economic Development Trust Fund MT-BSTF-1-19-06 - Profitable Ideas, Inc. (PIE) - DOCUSIGNED DOCUMENT1 of 2
City of Bozeman Business Assistance Agreement
MT-BSTF-1-19-06, Profitable Ideas, Inc. Amendment A
MONTANA DEPARTMENT OF COMMERCE
BIG SKY ECONOMIC DEVELOPMENT TRUST FUND
MT-BSTF-1-19-06, Profitable Ideas, Inc.
Amendment A to
Business Assistance Agreement
The parties to this contract (the Contract) are the City of Bozeman 121 N. Rouse, Bozeman,
MT 59715, (the “City”), and the Profitable Ideas, Inc., 815 Manley Rd., Bozeman, MT 59715,
(the “Assisted Business”); Tax identification number: 81-0543156.
Effective May 15, 2019, the City and the Assisted Business mutually agree to amend the Business
Assistance Agreement, executed by them as follows:
I.
Section B. PURPOSE: The purpose of this Contract is for the Assisted Business to use up
to $100,000 in Big Sky Economic Development Trust Fund (BSTF) grant funds, to be used
as follows:
Up to $55,200 to assist with reimbursement of wages.
a. The Assisted Business has agreed to create 20 eligible net new jobs at the
project site located at Profitable Ideas Inc. (the “Assisted Business”) in the City
of Bozeman within the Contract time period. An eligible net new job is defined as
one that is new to the company and has not been filled on or before July 19, 2018.
Eligible new job criteria is a full-time job, meaning a predominantly year-round position
requiring an average of 35 hours of work each week; and
b. Pays wages that meet or exceed $19.58 per hour, excluding benefits.
c. In addition, the Assisted Business have agreed to a total new investment at the
Project Site, which is equal to or greater than $1 for every $1 of BSTF financial
assistance received, within this Contract time period, to satisfy the required match
ratio for the grant.
II.
Section B.3. COMPENSATION AND CONSIDERATION: The total amount to be
reimbursed to the Assisted Business under the Contract shall be up to $100,000 less grant
administration fees per eligible net new job created by the Assisted Business for
documented costs with reimbursement not to exceed a total of $100,000 dollars for the
entire Contract.
III.
Section B.4. PERIOD OF CONTRACT: The Contract will be in effect for the period
commencing July 19, 2019 and ending July 19, 2020 unless otherwise terminated by law or
in compliance with the terms of the Contract.
DocuSign Envelope ID: 54663199-10F2-4289-80FF-84B8131555BF
2 of 2
City of Bozeman Business Assistance Agreement
MT-BSTF-1-19-06, Profitable Ideas, Inc. Amendment A
IV.
Section B 6. SIGNATORY JOB CREATION REPORTING: The persons responsible for
approving and signing the Job Creation Certification for Assisted Business are Renee
Storm, Senior Project Coordinator, Profitable Ideas Inc. or successor and, Andi Baldwin,
Managing Director and Partner, Profitable Ideas, Inc., 406-582-7826.
V. All other provisions of the Contract remain in full force and effect.
________
Tom McMakin Date
CEO
Profitable Ideas, Inc.
________
Renee Storm Date
Senior Project Coordinator
Profitable Ideas, Inc.
________
Andi Baldwin Date
Managing Director and Partner
Profitable Ideas, Inc.
________
Cyndy Andrus, Mayor Date
for City of Bozeman Commission
ATTEST:
Legal Review
DocuSign Envelope ID: 54663199-10F2-4289-80FF-84B8131555BF