JSDC approves affordable housing incentives Monday
The Jamestown/Stutsman Development Corp. will participate in the Flex Pace Affordable Housing Program, its board decided on a 9-2 vote Monday with Mark Klose and Chris Rathjen dissenting.
Final approval to participate in the program now moves to the Jamestown City Council and the Stutsman County Commission.
The JSDC will participate in providing incentives for up to 60 affordable housing units per year in Stutsman County. Each city or township must provide a definition of what constitutes affordable housing in its community.
The city or township would provide about $10,000 in infrastructure such as street, water or sewer for each unit of the development dedicated to affordable housing. The city or township would then place a special assessment for that amount against the property.
The Bank of North Dakota would then provide a grant of $15,000 per unit to reduce interest costs of the project.
Klose said did not speak at the meeting but spoke against the program during the JSDC Executive Board meeting last week, saying local governments should look at streamlining the development process rather than subsidizing it.
David Klein, executive director of the Stutsman County Housing Authority, said the funding could help bring more affordable apartments to Jamestown. He estimated there is a need for more than 300 affordable units in the Jamestown community
“It is a big need, and it is growing,” he said.
In other business, the JSDC approved paying $33,000 in dues to South Central Dakota Regional Council, $75,000 for grants to Jamestown Tourism and $43,000 as its share of a Flex Pace interest buy down for the hangar project at Jamestown Regional Airport.
Connie Ova, CEO of the JSDC, reported on the proposed CHS nitrogen fertilizer plant.
“They are looking for about $100 million in cost reductions,” she said.
CHS announced plans to build the nitrogen fertilizer plant in September 2012, but announced a hold on the project in April.
Ova said CHS construction plans included driving pilings for foundations this winter. If that work could not be started this fall, it may mean the project could be canceled, she said.
Sun reporter Keith Norman can be reached at 701-952-8452 or by email at email@example.com