JM ChamberJamestown (CSi) The Jamestown/Stutsman Development Corporation (JSDC) Board has offered to purchase a share of the Center for Economic Development building owned by the South Central Dakota Regional Council.

The agreed on price is $125,000.

The JSDC owns 50 percent of the Center for Economic Development, the Regional Council owns 32 percent, and the Jamestown Area Chamber of Commerce owns 18 percent.

JSDC CEO Connie Ova, says the building was appraised at $470,000. The co-owners of the facility, the JSDC, SCDRC and the Jamestown Area Chamber of Commerce, have about $532,000 invested in the building.

She says, “The 32 percent owned by the regional council would be valued at about $150,000,”

Regional Council officicals are adding staff and has outgrown its space within the building.

The completion of the sale will require the approval of the SCDRC Board of Directors, the Jamestown City Council and the Stutsman County Commission.

In other business:

The JSDC Board approved a jobs incentive fund grant to Dakota Spirit AgEnergy of up to $682,500. The grant amounts to $17,500 for each job with a wage above $15 per hour to a maximum of 39.

Ova said the funds will be paid to DSA upon proof of hiring and wages for the new employees. The 39 new jobs created at DSA range in wages from $17 per hour to $38 per hour.

The JSDC a Flex Pace and a Pace interest buy down for RealTruck.com. Ova says the loan of $80,000 from the JSDC would be used along with a grant of $175,000 from the Bank of North Dakota to reduce the interest rate on an expansion loan.

The jobs incentive fund grant to DSA and the Pace interest buy down loan to RealTruck.com must be approved by the City Council and the County Commission before going into effect.