COLDWATER, MI (WTVB) – The Coldwater City Council took action on two downtown properties during Monday’s meeting.
They approved 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 Ladd, who owns the Broadway Grille on South Monroe, entered into a lease with the city with an option to buy the property. The COVID-19 pandemic has caused delays in the project. Ladd needed a sales agreement or current ownership to move forward with the application process with the Michigan E.D.C. Community Revitalization Grant program.
In addition, after a potential buyer expressed an interest in the two story commercial building at 71-73 West Chicago that was donated by the Richard A. Kerr family in 2018, the Council introduced purchase and development agreements.
Chad Marsh has expressed an interest in developing the property into a bar and restaurant on the lower level and three apartments on the second level.
His wife Angie told the Council and Mayor Tom Kramer about their plans for the building.
Pending final approval, the agreements will give Chad Marsh the necessary interest in the property for making an application to the Community Revitalization Grant program administered by the Michigan Economic Development Corporation.
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