JAMESTOWN, N.D. (NewsDakota.com) – The Jamestown Finance & Legal Committee Tuesday considered an application for Renaissance Zone Incentives to be utilized by an existing business in Jamestown.

BJM Properties LLC. and Premium Property Management LLC. have both applied for a 5 year, 100 percent property tax exemption pending approval by the State of North Dakota Department of Commerce.

City Assessor Jamison Veil says the property has not yet been purchased. He explained the Renaissance Zone Incentives purpose is to expand the remaining effective life of a building through investment.

Premium Property Management Owner Tim Perkins explained what he would like to do with the building.

Perkins says they’ll work on the front exterior and replace glass on the property. The committee unanimously approved the Renaissance Zone Incentives for BJM Properties LLC. and Premium Property Management LLC.

The committee also recommended approval of $217,000 PACE Funding for Shocker Hitch, LLC with $173,600 paid by the City Sales Tax Fund. The other percent would be covered by the county.

JSDC Business Development Director Corry Shevlin says the business would be relocating from Arthur, ND into the former Infinity Lumber building.

The committee also recommended approval of $70,680 in New Jobs Training Funds with the city share of $56,544 to be paid by the City Sales Tax Fund. The rest would be covered by the county pending approval.