HomeMy WebLinkAboutC4. Resolution 4652, DropTrip1
Commission Memorandum
REPORT TO: Honorable Mayor and City Commission
FROM: Brit Fontenot, Director of Economic Development
SUBJECT: Resolution 4652 Relating to the Application to the Big Sky Economic
Development Trust Fund Program Administered by the Montana
Department of Commerce, on behalf of DropTrip, Inc.
MEETING DATE: November 2, 2015
AGENDA ITEM TYPE: Consent
RECOMMENDATION: Adopt Resolution 4652 authorizing the City’s application for a Big Sky
Trust Fund Category I job creation grant on behalf of DropTrip, Inc. and administered by The
Prospera Business Network.
BACKGROUND: The Montana Department of Commerce administers the Big Sky Economic
Development Trust Fund Category I job creation program. This State-funded program is intended
to incentivize the creation of net new higher paying jobs; also a Bozeman City Commission
priority. The local governing body is required to apply for the grant on behalf of the business
recipient as a co-applicant with the local Certified Regional Development Corporation (CRDC).
The Prospera Business Network is local CRDC which includes Gallatin County. Should the grant
be awarded, staff recommends that the City Commission appoint The Prospera Business Network,
our local CRDC, to administer all aspects of the grant on behalf of the City of Bozeman.
UNRESOLVED ISSUES: None
ALTERNATIVES: As proposed by the City Commission
FISCAL EFFECTS: If the application is successful, DropTrip, Inc. may be awarded up to
$7,500 per net new job with a target of six net new jobs over the next 18 months for a total
grant award, if all six proposed new jobs are filled, of $45,000.
Attachments:
1) Resolution 4652
Report compiled on: 10-22-15
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RESOLUTION NO. 4652
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF BOZEMAN,
MONTANA, RELATING TO THE APPLICATION TO THE BIG SKY ECONOMIC
DEVELOPMENT TRUST FUND PROGRAM ADMINISTERED BY THE STATE OF
MONTANA, DEPARTMENT OF COMMERCE, ON BEHALF OF DROPTRIP, INC.
WHEREAS, the Bozeman City Commission is committed to facilitating economic
diversification in the City and the region; and
WHEREAS, the Bozeman City Commission is committed to facilitating mid- and high-
wage job creation and expansion, thus positively impacting the economy of the entire region; and
WHEREAS, DropTrip, Inc, 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, 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 Category I grant and provide administrative support and other
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responsibility for the management and appropriate reporting to the Montana Department of
Commerce.
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 Montana Department of Commerce, Big Sky Economic Development Trust Fund
Program to assist DropTrip, Inc 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 November, 2015.
____________________________________
JEFFREY K. KRAUSS
Mayor
ATTEST:
STACY ULMEN, CMC
City Clerk
APPROVED AS TO FORM:
GREG SULLIVAN
City Attorney
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