COLDWATER, MI (WTVB) – The Coldwater Downtown Development Authority Board discussed but took no action Wednesday on a request from City Manager Keith Baker to make a $150,000 commitment to the Four Corners Park redevelopment project over the next five years.
Baker is proposing the DDA intially allocate $50,000 toward the project, with subsequent annual contributions of $25,000 over the next four fiscal years.
DDA board member Julie Stratos was hesitant to take action after they approved a request last month to contribute $10,000 annually for the next three years to a local incentives program that would feature low interest loans and rebates for downtown economic development. She felt the rebate program would be a more affordable way to bring businesses into downtown Coldwater.
Lisa Miller from the Branch County Growth Alliance said the Four Corners Park is a central focal point when people come into town, and it’s critical the project gets done.
Meanwhile, Baker said in his letter to the DDA board that all of the anticipated revenues have now been received and recorded in the amount of over $87,000 and that the DDA fund has met its budget projections for anticipated revenue in the 2018-2019 fiscal year.
