HomeMy WebLinkAbout21- Contract Amendment #MT-BSTF-1-21-09A - Montana Department of Commerce - XY Planning Network, LLC - DOCUSIGNED DOCUMENT1 of 3
Big Sky Economic Development Trust Fund Contract Amendment #MT-BSTF-1-21-09
Montana Department of Commerce City of Bozeman
COMMERCE CONTRACT #MT-BSTF-1-21-09
MONTANA DEPARTMENT OF COMMERCE
CONTRACT AMENDMENT # MT-BSTF-1-21-09A
This Contract Amendment is entered into by and between City of Bozeman, (“Contractor”) and the
Montana Department of Commerce (“Department”). Program funds have been awarded to assist the
Contractor and XY Planning Network, LLC.
The Contractor and the Department mutually agree to amend Contract #MT-BSTF-1-21-09
(“Contract”), executed by them on January 27, 2021, as follows:
1. Section 1. Purpose of the Contract is amended to read:
The purpose of this Contract is to provide funding for Big Sky Economic Development Trust
Fund (BSTF) Program (the Program) Economic Development Job Creation Project activities
approved by the Department which the Contractor has applied for project funds pursuant to
Sections 90-1-201 et seq., Montana Code Annotated (MCA).
Program funds have been awarded to assist the Contractor and XY Planning Network, LLC,
24 E Main Street, Bozeman, MT 59715 (the “Assisted Business”) with purchase of computers,
equipment and for wage reimbursement and the creation of jobs in Montana.
The Assisted Business has agreed to create 50 eligible net new jobs at the project site located
at Bozeman, Montana (the “Project Site”) in the Contractor’s jurisdictional area 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 before October 8, 2020. 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 $20.88 per hour, before the value of benefits is
added.
In addition, the Contractor and 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.
2. Section 6. Effective Date and Time f Performance is amended to read:
(a) This Contract shall take effect on October 8, 2020 and will terminate upon completion
of the final closeout by the Department, or by October 8, 2022, whichever comes
first, unless otherwise terminated in accordance with the terms of this Contract. The
employment level of XY Planning Network, LLC one day prior to the contract effective
date is 36 permanent, full-time employees onsite, per the certified baseline job report.
DocuSign Envelope ID: 34214072-7312-434C-B5B4-D32657E2A5B9
2 of 3
Big Sky Economic Development Trust Fund Contract Amendment #MT-BSTF-1-21-09
Montana Department of Commerce City of Bozeman
(b) All Program award monies must be expended by the Contractor within the timeline
specified in the Contractor’s application, which by reference is made a part of this
Contract. The Contractor may modify the implementation schedule set forth in the
Contractor’s application only upon obtaining prior approval of the Department.
(c) Each party, after termination of this Contract, remains subject to and obligated to
comply with all legal and continuing contractual obligations arising in relation to its
duties and responsibilities that may arise under the contract including, but not limited
to, record retention, audits, and indemnification.
(d) The Department reserves the right to extend this Contract based on but not limited to
the Contractor’s performance of the contracted activities, the Contractor’s compliance
with program requirements and the availability of program funding.
3. Section 7. Budget is amended to read:
(a) The total amount to be awarded to the Contractor under this Contract will not exceed
$250,000 to be used as follows:
• Up to $230,000 (or $4,600 per job) to assist the Assisted Business with the
purchase of equipment and for wage reimbursement; and
• Up to $20,000 (or $400 per job) for eligible administrative expenses.
(b) The Project budget is set forth in the application, as submitted by the Contractor and
approved by the Department, and as specifically incorporated by this reference. The
Department must approve budget adjustments to the Project in advance. To obtain
approval of a budget adjustment, the Contractor shall describe the rationale for a budget
adjustment in writing to the Department.
(c) Any Project expenses the Contractor fails to incur on or before October 8, 2022, will
revert to the Big Sky Economic Development Trust Fund.
(d) The total amount to be awarded to the Contractor under the Contract shall be up to
$5,000 pe eligible net new job created by the Assisted Business for documented costs
with reimbursement not to exceed a total of $250,000 for the entire Contract. The
Department will not reimburse the Contractor for any costs incurred prior to October
8, 2020, nor for any expenses not included in the approved budget or not clearly and
accurately supported by the Contractor’s records.
DocuSign Envelope ID: 34214072-7312-434C-B5B4-D32657E2A5B9
3 of 3
Big Sky Economic Development Trust Fund Contract Amendment #MT-BSTF-1-21-09
Montana Department of Commerce City of Bozeman
4. All other provisions of the Contract remain in full force and effect.
By: ________________________________________________________________
Cynthia Andrus, Mayor Date
City of Bozeman
ATTEST:
_______________________________________________________________
Mike Maas, Clerk Date
City of Bozeman
By: ________________________________________________________________
Adam Schafer, Deputy Director Date
Montana Department of Commerce
DocuSign Envelope ID: 34214072-7312-434C-B5B4-D32657E2A5B9
12/15/2021
12/15/2021
12/16/2021