JSDC approves funding to purchase Sun building for brewery
The Jamestown/Stutsman Development Corp. Board of Directors met Monday, Aug. 8.
JAMESTOWN – The Jamestown Stutsman Development Corp. Board of Directors unanimously approved a Flex PACE interest buydown funding request of more than $68,500 to Grainline Investments LLC to be used toward the purchase of The Jamestown Sun building for a brewery.
If approved by the Jamestown City Council and Stutsman County Commission, the city of Jamestown’s share will be more than $54,800 with Stutsman County’s share being more than $13,700.
“Basically, we are purchasing the building to partner with the brewery crew that's been working for about two years to figure out how we can bring something like this to Jamestown," said Nick Bruns, co-owner of Grainline Investments with Kent Sortland. “(There is) definitely a need in the … community of Jamestown for a space like that but also for the community of Jamestown as a whole to have just kind of a meeting ground space, an opportunity to enjoy beverages -- alcoholic and nonalcoholic -- together and have community space.”
Bruns said the brewery will house about 7,250 square feet of the more than 14,000-square-foot building, and The Jamestown Sun will rent about 2,000 square feet for its operations. Another 2,000 square feet of usable office space also will be available.
Corry Shevlin, JSDC business development director, said other incentives from the state Ag Products Utilization Commission could be available for the brewery.
“ … Depending on how they set up the operation, adding value to agricultural products … if they sold some of their feedstock from inside North Dakota, there is going to be some opportunities for incentives there,” he said. “A majority of those come down in the form of a grant and don't require a local match, which is fantastic.”
The JSDC Board of Directors unanimously approved a Flex PACE interest buydown funding request of more than $54,000 for BJM Properties LLC to be used toward purchasing and renovating a building located at 220 1st Ave. S in Jamestown.
If approved by the City Council and county commission, the city’s share will be more than $43,200 with the county’s share being more than $10,800.
The building will be used to house the staff of Premium Property Management LLC, said Tim Perkins, owner. He said staff has continued to grow and a larger office is needed to operate the Premium Property Management business more effectively.
Premium Property Management manages apartment units, single-family houses and storage units.
In other business, the JSDC Board of Directors unanimously approved moving the Flex PACE and PACE interest buydown funding requests from Applied Blockchain Inc. to a JSDC New Business Attraction Committee special meeting that will be held at noon Wednesday, Aug. 10. The funding requests are for about $217,000. Shevlin said Applied Blockchain will be operating at full capacity of 100 megawatts by next month. The JSDC board will need to schedule a special meeting as well.