Jamestown Residential Lot Development Program
The JSDC will provide up to 20% of the required 25% cost share for the city to bond for infrastructure for the development of residential lots within the Jamestown City limits.
Terms:
- No principal or interest payments and non-interest bearing for 5 years (deferment period)
- To be repaid over 2 years following the deferment period. The JSDC can establish a quarterly payment required at the of the deferment period.
- An interest rate of 2%
- JSDC would take a position on the property and calculate a per-lot cost that will be decoupled upon the sale of the lot.
- A minimum of 10 lots are to be developed
Category: Financial
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