HomeMy WebLinkAboutC2 Resolution 4582
Commission Memorandum
REPORT TO: Honorable Mayor and City Commission
FROM: David Fine, Economic Development Specialist
SUBJECT: Resolution 4582 relating to the application to the Big Sky Economic
Development Trust Fund Program Administered by the Montana Department of Commerce, on behalf of Montana Instruments Corporation.
MEETING DATE: March 2, 2015
AGENDA ITEM TYPE: Consent
RECOMMENDATIONS:
Staff recommends adoption of Resolution 4582 authorizing the City’s application for a Big Sky Trust Fund Category I job creation grant on behalf of Montana Instruments Corporation.
BACKGROUND:
The Montana Department of Commerce administers the Big Sky Economic Development Trust
Fund Category I job creation program, which is a state-funded program to incentivize the creation of net new higher paying jobs. The local governing entity is required to apply for the grant on behalf of the
business recipient as a co-applicant with the Certified Regional Development Corporation (CRDC) for the
area. Prospera Business Network is the CRDC for Gallatin County. Should the grant be awarded staff recommends that the local governing entity appoint the local CRDC to administer the grant on behalf of
the city.
“Montana Instruments specializes in precise and innovative optical measurement solutions for
research and industry.” They are a member of the City supported Montana Photonics Industry Alliance (MPIA). To learn more about Montana Instruments visit http://www.montanainstruments.com/. To learn more about the MPIA, visit http://www.montanaphotonics.org/.
UNRESOLVED ISSUES: None at this time.
ALTERNATIVES: As determined by the Commission.
FISCAL EFFECTS: If the application is successful, Montana Instruments Corporation may be
awarded up to $7,125 per net new job with a target of 10 new jobs.
Attachments: Resolution No. 4582
Report prepared on February 23, 2015
RESOLUTION NO. 4582
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF BOZEMAN, MONTANA, RELATING TO THE APPLICATION TO BIG SKY ECONOMIC DEVELOPMENT TRUST FUND PROGRAM ADMINISTERED BY THE STATE OF
MONTANA, DEPARTMENT OF COMMERCE, ON BEHALF OF MONTANA
INSTRUMENTS COPORATION.
WHEREAS, the Bozeman City Commission’s committed to facilitating economic
diversification in the City and the region; and
WHEREAS, the Bozeman City Commission is committed to facilitating job creation and expansion, thus positively impacting the economy of the entire region; and
WHEREAS, Montana Instruments Corporation, desires to expand their business and
create additional technology-related jobs in Bozeman; and WHEREAS, the City Commission has determined that the technology sector has high
growth potential and supports economic diversity; and
WHEREAS, the Montana Department of Commerce administers the Big Sky Economic Development Trust Fund Category I job creation program; which is a state-funded program to create good paying jobs for Montana residents, promote long-term, stable economic growth in
Montana, create partnerships, expand existing businesses and provide a better life for future
generations through greater economic growth and prosperity in Montana; and
WHEREAS, the City Commission hereby authorizes and appoints the Prospera Business Network to administer, on behalf of the City of Bozeman, all aspects of the Big Sky Trust Fund
Economic Development Grant and provide administrative support and other responsibility for
the management and appropriate reporting to the Montana Department of Commerce.
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NOW, THEREFORE, BE IT RESOLVED by the City Commission of the City of
Bozeman, Montana, the City agrees to submit an application, through the Prospera Business
Network, to the Big Sky Economic Development Trust Fund Program to assist Montana
Instruments Corporation in their expansion project and that the Prospera Business Network will manage all aspects of the grant.
PASSED AND APPROVED by the City Commission of the City of Bozeman,
Montana, at a regular session thereof held on the 2nd day of March, 2015.
JEFFREY K. KRAUSS Mayor
ATTEST:
STACY ULMEN, CMC
City Clerk
APPROVED AS TO FORM:
GREG SULLIVAN City Attorney
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