COLDWATER, MI (WTVB) – Two downtown properties are on the agenda for Monday night’s Coldwater City Council meeting.
The Council will be asked to approve the introduction of sales and development agreements in regards to the former Lefty’s Lounge property at 10 South Monroe.
The City of Coldwater bought the property in 2019 from the State of Michigan through its property tax foreclosure process for $23,500.
Scott A. Ladd, who owns the Broadway Grille on South Monroe, entered into a lease with and option to buy the property.
City Manager Keith Baker says Ladd needs a sales agreement or current ownership to move forward with the application process with the Community Revitalization Grant program administered by the Michigan Economic Development Corporation.
On another matter, the Council will be asked to approve a resolution authorizing the advancement of $350,000 to the D.D.A. for the purpose of completing the renovations at 60 West Chicago to facilitate the relocation of the Branch County Children’s Museum as a tenant for the property.
The D.D.A. intends to repay the loan primarily from the rental income of the property.
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