December STAR Fund Allocations total $297,000
Williston, ND - The Williston City Commission has allocated up to $297,000 in STAR Fund incentives in December. The projects include one Flex PACE Interest Buydown grant and one Community Build grant.
The Flex PACE grant will help Realty One Group Caliber purchase the building they currently lease at 1418 2nd Avenue West. The buydown is for $47,000. Meanwhile, the Links of North Dakota will receive up to $250,000 over four years from the Community Build program.
Barb Peterson, Williston Economic Development Marketing and Small Business Development Coordinator, said the Realty One Group Caliber project highlights the success of the STAR Fund program.
“The expansion of Realty One Group Caliber is a testament of our strength in business retention and expansion in the community,” said Peterson. “The new firm has experienced success and now it’s purchasing a brick-and-mortar facility.”
The Flex PACE Program combines funds from the Williston STAR Fund and the Bank of North Dakota to buy down the interest on a project’s commercial loan. The STAR Fund contributes roughly one dollar for every two dollars provided by the Bank of North Dakota.
Peterson, who is taking an expanded role in business retention and expansion efforts for Williston Economic Development, said the Links of North Dakota project is a good quality-of-life endeavor.
“The Links is an important venue that draws economic development to our region,” she said. “The Williston STAR Fund is happy to support their efforts. As many know, the Kasmer and Aafedt Classic has raised roughly a million dollars for nonprofit organizations in the area. That is a definite return on investment for the Williston STAR Fund.”
The following are the STAR Fund recipients for the month of December.
Flex PACE Grants totaling $47,000
Realty One Group Caliber: The existing real estate business is purchasing the building they are currently renting at 1418 2nd Avenue West in Williston. The buydown request is for $47,000
Community Build Grant totaling $250,000 over four years
The Links of North Dakota: The golf course will receive $250,000 over four years to upgrade the course. The annual allocations will be $62,500.