ITEM TITLE:
Approval of Childcare Operating Grant Program in the amount of $200,000
SUBMITTED BY: Martha Barberio, Economic Development Director
FISCAL NOTES:
Expenditure Required: $200,000.00
Unencumbered Balance: $351,359.00
Funding Source: Thread Childcare Grant, 350-3340-49510
RECOMMENDATION:
Approve Childcare Operating Grant Program in the amount of $200,000.
SUMMARY STATEMENT:
A portion of the thread Community INNOVATION Grant funds received by the City of Valdez was requested specifically as seed funding for stabilization and quality improvement initiatives. The City Council tasked the Economic Diversification Commission with designing programs to distribute this portion of the funding. The $500,000 allocated to this purpose is divided as follows:
• $100,000 is being held aside to augment training opportunities in early childhood education and support child development education efforts at PWSC
• $200,000 has been allocated to the already approved Startup Grant Program
• $200,000 is proposed to be allocated to this Operating Grant Program
The proposed operating grant will allow licensed childcare providers to qualify for a monthly stipend based on the number of children served and the staffing requirements of the provider. The aim of this funding is to financially support quality care for children and adequate compensation for staff.
Approval of this grant will ensure that local childcare services remain viable and supported, meeting the needs of Valdez families while contributing to the broader goals of economic diversification and community well-being.
The Economic Diversification Commission voted at their regular January 15, 2025 meeting to recommend approval of the attached Childcare Operating Grant Program. If approved, the program will run until December 31, 2025.