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N.D.–An application of a tax exemption was on the Jamestown City Council agenda last night.  The request came from the Super 8, which will be adding additional rooms in the near future.  Mayor Katie Anderson said “One of the requirements for this particular tax exemptions is that we notify all the competing businesses…and we did have some objections to this.  Overall as a council we did vote unanimously not to approve this particular tax exemption.”
Mayor Anderson added that even though they weren’t awarded the exemption, plans for the rooms will still go ahead as scheduled. 
At a previous committee meeting, the Jamestown City Council allowed the Super 8 to take advantage of the flex pace interested buy down program through economic development.  Mayor Anderson said “What this does is it buys down the interest rate on their loan by five percent.  That five percent is split.  Sixty percent is paid for by the Bank of North Dakota and that portion is a grant to the company.  And the other portion is a loan from Jamestown/Stutsman County economic development funds and that is paid back after the completion of their loan date.”
Mayor Anderson added that the program allows economic development to trickle further down than the primary sector.