Full Text
City of Missoula, Montana Item to be Referred to City Council Committee Committee: Administration and Finance Item: Montana Department of Commerce Big Sky Trust Fund Award Contract on behalf of InterMedia Outdoors, Inc. Date: Friday, September 24, 2010 Prepared by: Cindy Wulfekuhle, Office of Planning and Grants Initiated by: Cindy Wulfekuhle Action Required: To authorize the Mayor to sign the attached contract between the State of Montana Department of Commerce and the City of Missoula and to sign subsequent documents required by the State for Big Sky Trust Funds on behalf of InterMedia Outdoors, Inc. Recommended Motion: I move the City Council approve the Mayor sign the contract between the Montana Department of Commerce and the City of Missoula and subsequent documents for $367,500 on behalf of InterMedia Outdoors, Inc. Timeline: Referral to committee: Friday, September 24, 2010 Committee discussion: Wednesday, September 29, 2010 Council acts to set hearing: N/A Public Hearing: N/A Deadline: October 27, 2010 Background and Alternatives Explored: The Missoula Area Economic Development Corporation (MAEDC) worked with InterMedia Outdoors, Inc., a local video production firm that was purchased by a larger entity. MAEDC is working with the parent company to consolidate its operation and relocate to Missoula. The investment will result in 49 new jobs. MAEDC prepared an application to the Big Sky Trust fund to defray some of the costs associated with that move and the purchase of additional equipment. Council approved submitting the grant request in December, 2009. Per the Agreement with the State, MAEDC will administer the grant. The request was approved for funding in May. We received the contract from the State on September 20th. Financial Implications: There are no direct budgetary implications for the City. Attachments: InterMedia Outdoors, Inc. contract