JAMESTOWN (AP) - Stutsman County officials have given developers of a nearby ethanol plant a June 1 deadline to start construction if they want to keep financial support.
The Jamestown-Stutsman Development Corp. board voted 8-1 to back out of its financial agreement with the Newman Group if construction on Spiritwood plant does not start by June. Jamestown Mayor Clarice Liechty cast the only no vote.
The resolution by the JSDC board acknowledges that its commitments for a $4 million incentive grant and a $2 million equity investment in 2007 did not include a construction start date. But the resolution says the Jamestown-Stutsman Development Corp. "is charged with the responsibility of promoting economic development and cannot commit its funds indefinitely."
Attempts to reach developer Harold Newman for comment after the meeting were unsuccessful.
Posted in Local on Monday, December 15, 2008 6:00 pm Updated: 2:27 pm.
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