SCDRC, JSDC form committee to explore building options [The Jamestown Sun, N.D. :: ]
(Jamestown Sun, The (ND) Via Acquire Media NewsEdge) Feb. 22--Members of the South Central Dakota Regional Council Executive Committee and the Jamestown/Stutsman Development Corp. Board of Directors will form a committee to establish parameters for negotiations for the SCDRC to possibly sell its portion of the Center for Economic Development building.
SCDRC Executive Committee President Joe Neis, Kim Lees, secretary-treasurer, and Executive Director Deb Kantrud will serve on the committee to establish parameters for negotiations. JSDC CEO Connie Ova said she would find two JSDC Board of Directors' members to serve on the committee along with herself. The committee will meet at 11 a.m. Wednesday in the upper conference room of the CED building.
At its meeting Wednesday the SCDRC Executive Committee reviewed an appraisal of the CED building completed earlier this month. The building is appraised at $470,000.
The Center for Economic Development is owned by the SCDRC, the JSDC and the Jamestown Area Chamber of Commerce. The JSDC owns 50 percent of the building, the SCDRC owns 32 percent and the chamber owns 18 percent.
Based on the $470,000 appraisal, the JSDC and/or the chamber would have to pay the SCDRC $150,400 to buy out the SCDRC's share of the building.
Neis said if the JSDC and/or chamber don't buy out the SCDRC, then the whole building goes up for sale.
Ova said the JSDC Board of Directors would consider buying the SCDRC's portion of the Center for Economic Development, but wouldn't want to get another business or group in the building due to its own space needs.
"We need somewhere we can grow, and you can grow," Ova said.
Kantrud said there is no room for the SCDRC to grow in the Center for Economic Development. If plans for establishing a regional building inspections department go through, then more space will be needed.
"We already need more space," Kantrud said.
Ova said she would find two JSDC Board of Directors members to serve on the committee along with herself.
Sun reporter Chris Olson can be reached at 701-952-8454 or by email at email@example.com
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