Jamestown (CSi) The Jamestown/Stutsman Development Corportation (JSDC) Board of Directors this week, approved a Flex pace interest buy down loan for Buchanan Ag.

On Wednesday’s Wayne Byers Show on CSi Cable 2,  JSDC’s Business Development Coordinator, DeAnn Brunner said, the company, which started operations in October of 2012, is expanding its fertilizer and seed operation.

The Flex pace interest buy down reduces the interest of a bank loan and is repaid to the JSDC at the end of the regular loan.

The Jamestown City Council and Stutsman County Commission will look at the acquisition to approved or disapprove.

The Board also approved acquiring 325 acres of land adjacent to the Spiritwood, SEPA industrial park. The land has a purchase price of $6,000 per acre for a total investment of nearly $2 million.

The plan calls for constructing a railroad spur line into the new property from the SEPA rail loop to be constructed this summer.

The purchase would be funded with 90 percent city sales tax funds and 10 percent Stutsman County property tax revenues.

The purchase will come under consideration by the Jamestown City Council and Stutsman County Commission.