COLDWATER, MI (WTVB) – City of Coldwater Economic Development Coordinator Audrey Tappenden brought the Historic District Commission up to date Monday night on a pair of programs designed to stimulate business improvements in the downtown area.
A local incentives program that would feature low interest loans and rebates for downtown economic development was announced over two years ago.
The Downtown Development Authority board decided at that time to contribute $10,000 annually to the rebate program for three years.
In addition, Century Bank and Trust and Southern Michigan Bank and Trust designated $800,000 towards a low interest loan program
Tappenden said $290,000 has been approved from the loan pool for work on 17 buildings.
Tappenden said one of the larger recent projects was at 8 South Monroe which will feature a full commercial space renovation and five upper story apartment units.
She said another large project is the renovation of the former Gillespie Funeral Home into a building that will offer seven unit housing complex.
Tappenden said the D.D.A.’s initial application to be a Michigan Main Street Community was submitted in July.
Following a site visit, an updated application and video has to be submitted by Wednesday.
The proposed Main Street area would generally cover the area bordered by Pierson, Washington, Jefferson and Taylor.
Part of the application included draft resolutions of support from the City Council and the D.D.A. as well as other letters of support from the community.
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