HomeMy WebLinkAboutC10. RES 46891
Commission Memorandum
REPORT TO: Honorable Mayor and City Commission
FROM: Brit Fontenot, Director of Economic Development
SUBJECT: Resolution 4689 Supporting the Application to the Big Sky Economic
Development Trust Fund Program Administered by the Montana
Department of Commerce, on behalf of Wisetail.
MEETING DATE: May 9, 2016
AGENDA ITEM TYPE: Consent
RECOMMENDATION: Adopt Resolution 4689 authorizing the City’s application for a Big
Sky Trust Fund Category I job creation grant on behalf of Wisetail 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.
Recently, Wisetail was the focus of various media outlets for their successful business
model and charitable giving program. For the stories, please click on the links below:
Local software company successful with unconventional business model – Bozeman
Daily Chronicle June 24, 2012
Bozeman tech company launches charitable giving program – KBZK, June 23, 2015
UNRESOLVED ISSUES: None
ALTERNATIVES: As proposed by the City Commission
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FISCAL EFFECTS: If the application is successful, Wisetail may be awarded up to $5,000 per net new job with a target of twenty (20) net new jobs over the next 18 - 24 months for a
total grant award, if all twenty proposed new jobs are filled, of $100,000.
Attachments: 1) Resolution 4689
Report compiled on: 4-28-16
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RESOLUTION NO. 4689
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 WISETAIL.
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, Wisetail, 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, supports mid to high wage jobs 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 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 Wisetail 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 9th day of May, 2016.
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CARSON TAYLOR Mayor
ATTEST:
ROBIN CROUGH, MPA City Clerk
APPROVED AS TO FORM:
GREG SULLIVAN
City Attorney
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