COLDWATER, MI (WTVB) – The Coldwater City Council passed a resolution Monday night which would establish a Commercial Rehabilitation District on the south side of the city.
The action came after a public hearing was held. The district would be along Division and South Clay Streets and connect two groups of properties zoned highway commercial.
Economic Development Assistant Audrey Tappenden said properties have to meet one of the five criteria.
Under a state law passed in 2005, Commercial Rehabilitation Districts encourage projects by enabling land and business owners to seek abatements of up to ten years on taxes generated from new investment.
All of the certificates for the district would be first approved by the City Council allowing members to use the information in the application to determine its significance to the district and how long the abatement should be.
