JSDCJamestown (CSI) The Jamestown/Stutsman Development Corporation (JSDC) will be reviewing a proposal to transfer 320 acres of property it owns to the Spiritwood Energy Park Association.

The land is located south of the SEPA rail loop and could be used for industrial development.

JSDC CEO Connie Ova says the talks are in the preliminary stages

She says JSDC could transfer the 320 acres it purchased this summer to SEPA for about $2 million.

SEPA ownership is split based on the percentage of investment by the JSDC and Great River Energy. Now, the JSDC share is about 60 percent.

She estimated the JSDC share would increase to 90 percent if the organization transferred the property to SEPA.

JSDC and Great River Energy are partners in the Association, which is in the process of completing a rail loop which offers access to real estate parcels available for sale within the industrial park.

In other business the Executive Committee Monday, approved a Flex PACE interest buy down for Ben Pesek of up to $43,000, who has purchased the former Hobby Tire building and is planning to add another building including additional shop space, planning to rent shop space to other businesses.

A Flex Pace interest buy down reduces the interest costs for a real estate loan by 5 percent. The money is repaid to the JSDC over a two-year period at the end of the real estate loan.