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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: January 29, 2010 Prepared by: Mike Barton 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 the Goomzee Corporation. Timeline: Referral to committee: February 1, 2010 Committee discussion: February 3, 2010 Background and Alternatives Explored: MAEDC is working with Goomzee Corporation, a high-tech company specializing in mobile marketing. The company has patent-pending software and technologies that increase user- access to information via mobile devices like cell phones. MAEDC has prepared an application for $120,000 to the Big Sky Trust fund to support an expansion of the business. The investment will result in 16 new 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: Goomzee Application