Jamestown Approves $500,000 for 2026 Flex PACE Program

The Jamestown Stutsman Development Corporation board voted unanimously on December 9 to fund the 2026 Flex PACE program at $500,000, a step officials say will help local companies afford capital projects by reducing interest expense on loans. The board recommended a city county cost share of 80 percent and 20 percent respectively, which would allocate $400,000 from the city and $100,000 from the county if both governing bodies approve the proposal.

Flex PACE operates as an interest rate buydown administered in partnership with the Bank of North Dakota, where local public contribution reduces the effective rate for qualified borrowers at participating lenders. The program uses a community match structure so public seed funds can leverage private bank lending to finance equipment purchases, facility upgrades, and expansion projects that may otherwise be deferred or scaled back. JSDC has participated in Flex PACE loans in recent cycles and officials note the program has helped attract private investment into local projects.

At the same meeting the board approved deobligation of certain earlier funds, a move that reallocates unused or returned program dollars back into the available pool for 2026 activity. That step increases the effective capital JSDC can deploy through Flex PACE without requiring additional new revenue. The combination of the new $500,000 commitment and deobligated funds is intended to improve the program s capacity to support more or larger projects in the coming year.

For Stutsman County residents and business owners the program could lower effective borrowing costs, making investment in equipment and building improvements more financially viable. From a municipal finance perspective the proposed 80 20 split concentrates short term budgetary exposure in the city while leveraging county participation to expand program reach. Economically the program aims to multiply public dollars with private lending, improving the return on public investment through increased business activity and a stronger local tax base.

City and county officials must now weigh the budget implications and expected outcomes before final approval. If approved, the 2026 Flex PACE funding could accelerate local capital projects and support job retention and growth by lowering a key cost of borrowing for Stutsman County businesses.