Jamestown (CSi) The Jamestown/Stutsman Development Corporation (JSDC). Board of Directors has denied a request from Kal Patel to reduce or eliminate the amount in repaying loans he had received as part of an economic development package.

JSDC CEO Connie Ova said, Patel had received Flex PACE interest buy down loans from the JSDC for the Cherry Berry frozen yogurt operation and the Bison Inn Jamestown amounting to about $40,000.

Patel has closed the Cherry Berry operation and sold the Bison Inn. Payments on the loan were scheduled to begin November. 1st, but no payment has been received. Patel, who submitted a written request to the JSDC, did not attend the meeting.

Flex PACE interest buy down uses a grant from the Bank of North Dakota and a loan from a local economic development organization to reduce the interest charges on a business loan.

Jamestown Mayor Katie Andersen, a board member indicated that Patel did not violate the agreement, but he is responsible for paying back the community share. She said, the loan from the JSDC can be repaid over a two-year period

Stutsman County Commission Chairman, and board member, Mark Klose agreed.

In other business, the JSDC Board of Directors presented plaques to Gary Riffe, Brent Harris and Eric Tuchscherer, whose terms on the board were expiring and were attending their last meeting.