COLDWATER, MI (WTVB) – The Coldwater City Council advanced two separate housing requests during its meeting on Monday night, aiming to pave the way for major renovations at a pair of affordable housing complexes.
The first measure introduced Ordinance No. 887, which proposes a 10% Payment In Lieu of Taxes (PILOT) agreement to assist Woda Cooper Companies in rehabilitating the Tibbit’s Greene Apartments.
Craig Patterson with Woda Cooper addressed the council and says the 24-unit affordable senior housing community, located at on Northshore Drive, requires extensive updates for which they plan to invest $1.8 million dollars beginning with re roofing each unit.
Patterson also said all the carpeting would be replaced with LBT flooring.
By paying an annual service charge instead of traditional property taxes, the developer can pursue a state housing tax credit from MSHDA, with the city experiencing an annual tax difference of only about $2,000 spread across local jurisdictions. A second reading and potential adoption for this ordinance is scheduled for September 28.
In a related move, the council introduced ordinance amendments granting a one-year extension to Pedcor Investments, LLC for the Whispering Pines housing complexes.
The developer is working to re-syndicate the properties to finance critical renovations across its 156 low-income housing units but requires more time to navigate the ongoing Michigan State Housing Development Authority (MSHDA) approval process.
A Pedcor representative in attendance at last nights meeting said the planned renovations would be extensive
The amendment pushes back a previously established sunset clause from ordinances approved in November 2024.
Following this successful first introduction, the extension amendments will move forward and are expected to be eligible for formal adoption via a roll call vote at the council’s meeting on October 26, 2026.
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