HomeMy WebLinkAbout19- Amendments to Business Assistance Agreement - Zinovo, LLC - Big Sky Trust Fund Grant - ORIGINAL SIGNATURES 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.
Zinovo Amended Agreement and Management Plan 1 October 2019
Jonathan Distad, CEO Zinovo Date
Peg Rifleman, COO Zinovo Date
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Mayor Date
for City of Bo eman Commission
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ATTEST:
Legal Review
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Zinovo Amended Agreement and Management Plan 2 October 2019