Vision Fund Committee Meeting Agenda April 2026
Flex PACE Buydown Approved for JAB Investments Loan
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Description
The Vision Fund documentation includes a Flex PACE interest buydown for JAB Investments LLC supporting a $590,000 loan amortized over 20 years. The total buydown is $227,977.30, split between Bank of North Dakota and community funds, reducing the borrower’s effective interest cost.
Contract Details
Contract Amount
Interest buydown amount $227,977.30 (BND $148,185.19, Community $79,792.11) on $590,000 principal
Vendor
JAB INVESTMENTS LLC
Agency
Bismarck-Mandan MPO, ND
Contract Type
FINANCIAL_SERVICES
Document Date
April 23, 2026
Contract Term
Amortization 240 months (20 years)
Renewal Info
Flex PACE interest buydown runs for the life of the 240‑month amortization; no explicit renewal options are stated.
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