COLDWATER, MI (WTVB) – he Coldwater City Council is set to tackle a busy agenda during its t meeting on this evening, highlighted by two major affordable housing requests.
Council members will consider the introduction and first reading of Ordinance No. 887, which proposes a Payment in Lieu of Taxes (PILOT) agreement for Tibbit’s Greene, LLC. The proposal aims to support Woda Cooper Companies in rehabilitating its 24-unit affordable senior housing complex at 124 Northshore Drive, which has experienced standard wear and tear since its construction in 2005.
By approving a 10% PILOT annual service charge instead of traditional property taxes, the city would help the developer secure crucial state housing tax credits from MSHDA.
The estimated tax difference across all jurisdictions is approximately $2,000, and if introduced tonight, the ordinance will move to a second reading and potential adoption on September 28.
In a related housing matter, the council will review a request from Pedcor Investments, LLC for a one-year sunset extension
on existing PILOT agreements for the Whispering Pines I and II developments.
Comprising a combined 156 low-income units, the properties previously operated under a PILOT program from 2000 to 2020 before returning to the standard tax roll.
Pedcor has been working for two years to re-syndicate the properties to fund necessary renovations, but the project remains under review by MSHDA.
The requested extension would prevent the city’s previously approved 2024 ordinances from expiring while the state approval process finishes.
If the council introduces these amendments tonight, the extension will be eligible for final adoption by a roll call vote on October 26, 2026.
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