JAMESTOWN, N.D. (NewsDakota.com) – The Jamestown/Stutsman Development Corp. (JSDC) approved a PACE interest buydown for the Pingree Transload Facility during its meeting on Monday.

The planned facility will be located on 63 acres of land just north of Pingree. Once completed, the project will accept specialty and identity-preserved crops from farmers for shipment worldwide.

The Pingree facility will generally accept truckloads of wheat and soybeans, which will be shipped by bulk rail to buyers.

Stutsman County will pay 80%, or $171,000, of the interest buydown, with the city of Jamestown covering 20%, or about $43,000. The PACE program, administered by the Bank of North Dakota, can reduce the interest rate for the business by as much as 5%.

The approval now moves to the Stutsman County Commission and the Jamestown City Council for consideration.