ITEM TITLE:
Discussion Item: Childcare Operating Grant
SUBMITTED BY: Martha Barberio, Economic Development Director
FISCAL NOTES:
Expenditure Required: $200,000
Unencumbered Balance: Click here to enter text.
Funding Source: THREAD INNOVATION GRANT
RECOMMENDATION:
Approve
SUMMARY STATEMENT:
Child Care Operating Grant Program:
In collaboration with Blue Shibler, the EDC will develop an outline for a Child Care Operating Grant Program. This program will provide start-up and monthly grants to licensed childcare providers based on a per-child and per-employee stipend amount. The initial funding for this program will be sourced from the INNOVATION grant funds, focusing on immediate implementation while identifying sustainable revenue sources. Attached is the Alaska True Cost of Childcare study that was done by McKinley Research. On page 42, starts the section on Operating Cost scenario analysis for some guidance.