Jamestown (CSi) The Jamestown/Stutsman Development Corporation (JSDC) Executive Committee Monday, approved a sales agreement for one and a half lots in the I-94 Business Park to Allen Enterprises.

The JSDC Board approved the sale in January. The sale was also approved during the February City Council and Stutsman County Commission meetings.

The property transfer had been delayed while a finalized version of the sales agreement was prepared.

The document for real estate, and, an economic is  development agreement.

The lots, appraised at $3.50 per square foot, are being sold at $1 per square foot. The difference of $2.50 per square foot is considered an economic development grant from the JSDC to Allen Enterprises.

The economic development portion of the agreement includes requirements that the buyer employs 10 full-time workers and sets a minimum value of the structure that must be built on the lots within two years.