COLDWATER, MI (WTVB) – The Coldwater City Council introduced an ordinance on first reading Monday evening that would conditionally rezone nine-and-a-quarter acres of land at the site of the former Fremont School Building on South Fremont Street.
Contingent on the awarding of Michigan State Housing Development Authority tax credit, the property would be rezoned from A-1 One Family Residential to A-3 Multi Family Residential.
MVAH Partners of Butler County, Ohio wants to buy the property from Coldwater Community Schools and convert the land into no more than 48 ground level senior one and two bedroom apartments for those 55 years and over that would be called Coldwater Senior Villas.
Among the conditions approved by the Planning Commission was that construction would have to start by June 30, 2021.
The second reading and adoption is scheduled to take place during the Council’s next meeting on September 9, 2019.
The Council also introduced an ordinance that would implement a Payment in Lieu of Tax Policy for the proposed development. Under the policy, the developer would pay a percentage of the net revenues instead of the standard property tax millage rate. Such a policy has been used for two phases of the Whispering Pines Apartments and at the Meadowview Senior Apartments.
