JAMESTOWN, N.D. (NewsDakota.com) – The City of Jamestown Finance & Legal Committee moved to authorize their staff to form a tax increment finance (TIF) district for the planned UJ Place on the University of Jamestown campus.

John Shockley with Ohnstad Twtichell represents the city and informed the committee that the University wanted to have developer EPIC Companies own the building for the first 5 years.

Mayor Dwaine Heinrich stated their duty was to just approve or deny authorization of City Administrator Sarah Hellekson, city staff, and Shockley to draft a project plan.

University of Jamestown Executive Vice President Tena Lawrence stated the top four floors would address the student housing shortage on campus.

The building, which has been appraised at $12 million, would be taxable on the 13,000 square foot commercial space and would be able to house 120 students. EPIC Companies estimates to have the building ready by the fall of 2020.

The committee moved to approve forming a plan to draft a tax abatement agreement. Councilmember Pam Phillips was not in attendance.