COLDWATER, MI (WTVB) – The Coldwater Downtown Development Authority board approved its 2026-2027 fiscal year budget on Wednesday morning.
D.D.A. and Main Street Director Kristen Johnson said their end-of-fiscal-year fund balance is estimated to be over $186,000 which she says reflects all known and expected costs and revenues tied to their programs and projects.
Most of the budget has the same numbers as last year but there are several exceptions.
Tax Increment Finance revenue is expected to total $122,000 which would be a $10,000 increase from 2025-2026.
TIF Revenue is primarily used for downtown maintenance, promotion and marketing of the downtown and a rebate program tied to facade improvements and building renovations.
Johnson says a budget of $50,000 for the rebate program is being proposed for the fiscal year ending in June of 2027. This amount was increased from $20,000 for 2026 due to the surplus and carry over of funds not spent in the 2025 budget year. According to Johnson, this surplus is due to several factors, including several months without an acting director, followed by a new individual in the role of director for much of the budget year.
She feels the rebate program is a central piece of the D.D.A.’s role in incentivizing redevelopment and maintaining the district’s historic character.
In addition, a budget of $14,286 annually for seven years is proposed for a total contribution of $100,000 towards the downtown streetscape project.
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