ITEM TITLE:
Childcare Operating Grant
SUBMITTED BY: Martha Barberio
FISCAL NOTES:
Expenditure Required: N/A
Unencumbered Balance: N/A
Funding Source: N/A
RECOMMENDATION:
Approve
SUMMARY STATEMENT:
Attached is the draft of the grant forms that programs would submit each month. There is a placeholder for an employee subsidy because is it recommended that it be included.
With these amounts, assumptions can be made about the overall costs to the city. A program with 12 FTE kids and 3 FTE employees will receive $5700/month.
If the Co-Op operates 9 months of the year, that is $51,300/year;
If they operate 12 months of the year, the annual amount increases to $68,400.
The above comparison shows the monthly design allows for the 'tiers' the commission requested.
If Sugar Bear gets licensed for 12 kids, it will also receive $68,400 annually.
If both programs operate year-round and receive grants for Feb-Dec, the total cost will be $125,400. This leaves room for one or two new programs to start receiving the grants in 2025 (assuming any new program will take 2-4 months to get licensed).