HomeMy WebLinkAbout19- Amendments to Business Assistance Agreement - MT-BSTF-1-18-16 - Zinovo, LLC - Montana Department of Commerce Big Sky Trust Fund Grant
Zinovo Amended Agreement and Management Plan 1 October 2019
MONTANA DEPARTMENT OF COMMERCE
BIG SKY ECONOMIC DEVELOPMENT TRUST FUND
MT-BSTF-1-18-16
AMENDMENTS TO THE BUSINESS ASSISTANCE AGREEMENT
The parties to this contract (the Contract) are The City of Bozeman, located at 121 N. Rouse
Ave. Bozeman, MT 59715 (the “City”), and Zinovo LLC located at 1010 E. Main St. in Bozeman,
MT 59715 (the “Assisted Business”); Federal Employer Identification Number (FEIN) 82-2712996.
The City and the Assisted Business mutually agree to amend the Business Assistance
Agreement, executed by them as follows:
1. B. PURPOSE: The purpose of this Contract is for the Assisted Business to use up to
$50,000 in Big Sky Economic Development Trust Fund (BSTF) grant funds, to be
used as follows:
• Up to $50,000 to assist with purchase of equipment, software and lease rate reduction.
a. The Assisted Business has agreed to create 10 eligible net new jobs at the
project site located at Zinovo LLC (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 December 1,
2017. 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
Section 3. COMPENSATION AND CONSIDERATION: The total amount to be
reimbursed to the Assisted Business under the Contract shall be up to $50,000 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 $46,000 dollars for the entire
Contract.
a. The City will authorize the Assisted Business to draw up to $46,000 (total BSTF
grant award minus administration fees) against the funding reserved for the Assisted
Business by the Department. In drawing against the reserved amount, the Assisted
Business shall follow the instructions supplied by the City. Unless otherwise
authorized by the City, the Assisted Business may receive grant funds periodically
over the Contract period only upon documenting the expenditure of the required
matching funds and the creation of the eligible net new jobs by the Assisted
Business, and after incurring eligible expenses. Upon reasonable request, the
Assisted Business shall provide substantiation of its investment in capital in excess
of the required $46,000 new investment at the project site.
Section 4. PERIOD OF CONTRACT: The Contract will be in effect for the period
commencing December 1, 2017 and ending December 1, 2020 unless otherwise
terminated by law or in compliance with the terms of the Contract.
2. All other provisions of the Contract remain in full force and effect.
DocuSign Envelope ID: 159B3C60-BA40-4F52-9E65-5A4DD2D72518
Zinovo Amended Agreement and Management Plan 2 October 2019
________
Jonathan Distad, CEO Zinovo Date
________
Peg Rifleman, COO Zinovo Date
________
Cynthia Andrus Mayor Date
for City of Bozeman Commission
ATTEST:
Legal Review
DocuSign Envelope ID: 159B3C60-BA40-4F52-9E65-5A4DD2D72518
12/12/2019
12/12/2019
12/16/2019
12/21/2019
12/21/2019
Zinovo Amended Agreement and Management Plan 3 October 2019
Exhibit A
MANAGEMENT PLAN
This Contract Amendment is entered into by and between the City of Bozeman, (the “City”) and
Zinovo, LLC (the “Assisted Business”).
1. All partied mutually agree to amend the Management Plan (“Plan”), executed by them on
June 8, 2018 as follows:
A. ADMINISTRATIVE STRUCTURE
2. Prospera Business Network, (PBN)
a. Alexa Freeburg, Grant Coordinator, will serve as the Project
Administrator and will be responsible for overall coordination for all
official contacts with City of Bozeman on behalf of PBN. Telephone:
(406) 587-3113.
3. Zinovo LLC, the Assisted Business
The Assisted Business has agreed to create 10 eligible net new jobs at the project
site located at Zinovo LLC, located in Bozeman Montana (the “Project Site”). An
eligible net new job is defined as one that is new to the company and has not been
filled before December 1, 2017. 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 pays wages that meet or exceed $19.02 per hour, excluding benefits.
B. PROJECT MANAGEMENT
2. Alexa Freeburg, Prospera Business Network, Project Administrator is
responsible for the following project activities and will:
C. FINANCIAL MANAGEMENT
As designed in the BSTF contract, the total amount of the BSTF award will not exceed
$50,000 less grant administration fees.
2. Assisted Business – Project Funds
a. As outlined in the BSTF Contract, the Assisted Business will receive
up to $4,600 per eligible net new job created by the Assisted Business
for documented cost with reimbursement not to exceed a total of
$46,000.
b. An eligible net new job is defined as one that is new to the company
and has not been filled before December 1, 2017. 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 pays wages
that meet or exceed $19.02 per hour, excluding benefits.
2. All other provisions of the Contract remain in full force and effect.
DocuSign Envelope ID: 159B3C60-BA40-4F52-9E65-5A4DD2D72518
Zinovo Amended Agreement and Management Plan 4 October 2019
WE HAVE READ THE MANAGEMENT PLAN AND ARE AWARE OF THE RESPONSIBILITIES FOR THE
MANAGEMENT AND OVERALL SUCCESS OF THE BSTF PROJECT AS THE DESIGNATED LIAISONS FOR THE
PROJECT:
CITY PROJECT MANAGER CITY FISCAL CONTACT
Brit Fontenot, City of Bozeman Kristin Donald, Finance Director
Date Date
PROSPERA BUSINESS NETWORK ZINOVO LLC
PROJECT ADMINISTRATOR PROJECT REPRESENTATIVE
Alexa Freeburg, Prospera Business Network Jonathan Distad, Zinovo LLC
Date Date
DocuSign Envelope ID: 159B3C60-BA40-4F52-9E65-5A4DD2D72518
12/16/201912/17/2019
12/21/201912/21/2019
Zinovo Amended Agreement and Management Plan 5 October 2019
IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the 9th day of
December, 2019.
City of Bozeman Commission
Cynthia Andrus, Mayor
Date
Prospera Business Network
Paul Reichert, Executive Director PBN Carolyn Murry, Accountant PBN
Date Date
Zinovo LLC
Peg Rifleman, Zinovo COO
Date
DocuSign Envelope ID: 159B3C60-BA40-4F52-9E65-5A4DD2D72518
12/12/2019
12/21/2019
12/21/201912/23/2019