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City of Missoula, Montana Item to be Referred to City Council Committee Committee: Administration and Finance Item: Authorization of application to Big Sky Trust Fund Date: March 12, 2010 Prepared by: Cindy Wulfekuhle, Office of Planning and Grants Initiated by: Missoula Area Economic Development Corporation Action Required: City Council is requested to adopt a motion authorizing the Mayor to submit an application to the Big Sky Trust Fund to support business expansion and job creation in a local corporation. Recommended Motion: I move the City Council authorize the Mayor to submit an application to the Montana Department of Commerce Big Sky Economic Development Trust Fund for the purpose of supporting business expansion and job creation at WGM, Inc. Timeline: Referral to committee: March 15, 2010 Committee discussion: March 17, 2010 Background and Alternatives Explored: MAEDC is working with WGM, Inc, a local company specializing in land use planning, engineering and surveying. WGM is seeking working capital for its newly created Industrial Design Division. MAEDC has prepared an application for $46,625 to the Big Sky Trust fund to support expansion of the business. The investment will result in three new engineering jobs. The Administration proposes to have MAEDC administer the grant if the application is successful. Any grant agreement resulting from the application will be subject to City Council approval. Financial Implications: There are no direct budgetary implications for the City. Attachments: Draft application material