COLDWATER, MI (WTVB) – Three Coldwater City Council members have been appointed to a committee by Mayor Tom Kramer to look into proposals on the former Lefty’s Lounge property at 10 South Monroe.
Kramer announced during Monday’s City Council meeting that he appointed Council members Michael Beckwith, Travis Machan, and James Knaack to the committee.
Kramer felt it was important for the council to get involved and that any recommendation from the committee would come back to the full Council.
Broadway Grille owner Scott Ladd and Five Star Pizza owner Carl Thornton have expressed an interest in the building. Kramer said Monday night the building has been shown to two other potential businesses.
To see if there was anyone else who might be interested in the property, the Council agreed October 14 to have the two agreements from Ladd and Thornton sit on the table for 42 days.
Coldwater Mayor candidate Dan Corwin blasted city officials during that meeting for not offering the property to the public. He told the Council they were “overstepping their bounds” and that they were “picking winners and losers, who can do what in this city. That has not worked well in the past and it’s not going to work well now.”
Under Ladd’s offer, he would pay $275 a month in rent to the city for two years while the renovations are taking place. The second part of the transaction would be an option to purchase the property after a bar or restaurant had been operating there for six months and at least $75,000 had been invested in the building.
The sale price would be $23,500, which is the same amount of money the city has put into the building.
Lefty’s closed in June 2016, blaming nearby construction for the closure. The city bought the property from the State of Michigan through its Property Tax Foreclosure Project.
