Microtel1Jamestown, ND (KCSi-T.V. News Oct 14, 2013) — In a unanimous vote, the Jamestown/Stutsman Development Corporation (JSDC) has given final approval to sell a lot in the I-94 Business for the construction of a new hotel, to Shaw Development for $1 per square foot.

The lot is located across the street from Buffalo City Diesel and adjacent to AgCountry Farm Credit Services.

The sale need not be approved by the Jamestown City Council and Stutsman County Commission before it is final, as the panels have previously approved the land issues.

When the sale is approved, Shaw Development has two years to complete its construction plans or it will incur additional costs for the land.

In other business, the JSDC Board also approved a PACE interest buydown for an expansion at Buffalo City Diesel.

The JSDC is to provide a loan of up to $200,000 while the Bank of North Dakota will provide a grant of up to $300,000 to reduce the interest on the loan for the expansion.

The money loaned by the JSDC is repaid after the original expansion loan is paid off. The original expansion loan is about $350,000.

The JSDC Board voted unanimously to approved a $75,000 grant to the Buffalo City Tourism Foundation, to be matched by other BCTF funds.

The dollars are earmarked to provide grants to tourism sites and operations in Jamestown and Stutsman County.