STAR Fund provides up to $184,000 for Five Commercial Projects

The Williston City Commission has approved up to $184,000 in STAR Fund grants for five commercial projects including construction of a state-of-the-art dental office. Dr. Jeremy Messer will receive up to $67,000 from the Flex PACE program to buy down the interest on the $2.3M project. The new facility will be located near the 20/20 Professional Center in Williston.

"The land around the 20/20 Professional Center has seen some nice development. The addition of Messer Dental is a great fit and will be an excellent addition to the community," said Williston Economic Development Executive Director Shawn Wenko.

The commission also approved Flex PACE interest buy down grants for the following projects: Duane’s Radiator Shop - up to $17,000 to purchase a building; Teraflex Group/Tarheel Holdings - up to $72,000 to purchase a building; Fallon Justice - up to $15,000 to purchase Bride to Be; and Northland Line Service - up to $12,000 to offset startup costs.

Wenko said commercial activity has been very strong this year.

"We saw a wide range of projects come through our STAR Fund this past month. Activity has been significant this year," said Wenko. "To date in 2018 we have assisted with $15 million of private business investment into the community."

The Bank of North Dakota and City of Williston provide Flex PACE grants to qualifying businesses for startup and expansion costs. The BND provides about two dollars to every one dollar from the STAR Fund. The grants help buy down the interest on commercial loans.

The Williston STAR Fund has distributed nearly $900,000 to projects in 2018: $423,528 for 12 Flex PACE interest buy down grants; $324,515 for seven Community Build/Growth projects; $120,000 for 24 Mini Match grants; and $20,000 for one C4 Façade project.

STAR Fund applications may be obtained at the Center for Development or online at willistondevelopment.com.

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