COLDWATER, MI (WTVB) – The Coldwater City Council will be asked Monday night to approve over $237,000 from the city CDBG’s Revolving Loan Fund for a proposed inflatable aquatics playground, beach and outdoor recreational facility on the site of a former gravel mine and aggregate plant at 262 South Michigan Avenue in Coldwater Township.
The Aqua Pit, LLC of Quincy has applied through Northern Initiatives, Incorporated for the City’s of CDBG Revolving Loan Fund which will aid in financing equipment and working capital for the project.
City Manager Keith Baker says projects that benefit Coldwater and the surrounding region do not have to be located within Coldwater to be eligible for the funding.
He says the project location still requires further approval for consistency with the Coldwater Township Comprehensive Plan and Zoning Ordinance.
The Aqua Pit would have seven full time employees.
Baker points out in his letter to the Council that the balance of the city’s portion of the CBDG funds is over $583,000 and since there has been no activity of late, the state is proposing to recapture the funds and distribute the money to other communities. If the Aqua Pit project is approved, the city would continue to have access to the funds for another two years. The last time the Revolving Loan Funds were used was for the expansion of the Tasty Twist in 2017.
