(CSi) At Tuesday’s meeting, the Stutsman County Commission unanimously approved funding the Jamestown/Stutsman Development Corp. (JSDC) Flex PACE program up to $500,000.

The Jamestown City Council approved funding the Flex PACE program with its share $400,000, with Stutsman County’s share $100,000.

The JSDC participates in the Flex PACE program in conjunction with the Bank of North Dakota. The program is an interest buydown program. JSDC vice president of business development Corry Shevlin said, it’s possible to potentially buy interest rates down by up to 5-percent, no lower than 1-percent.

In 2022, the JSDC participated in six Flex PACE loans totaling about $348,000. He said the investment leveraged more than $810,000 from the Bank of North Dakota in the form of a grant and over $3 million in private investment into Jamestown and Stutsman County.

No action was taken by the county commission on a request to help fund a re-pavement of County Road 68 and County Road 39 in the city of Medina.