COLDWATER, MI (WTVB) – Coldwater Community School Superintendent Terry Whelan said during Monday’s Board of Education meeting that MVAH Partners of Butler County, Ohio are still optimistic about getting Michigan State Housing Development Authority tax credits to help fund Coldwater Senior Villas at the site of the former Fremont School Building.
Whelan says they found out about a month ago MVAH missed out in this round of M.S.D.A. grants by one point but they will resubmit their application and will try again in the next round which has a deadline of April first. The awards will be announced in July.
She pointed out MVAH got a grant awarded for a project in Grand Rapids in this round after previously being denied.
The nine-and-a-quarter acres of land has been conditionally rezoned by the City of Coldwater. Contingent on the awarding of the tax credits from MSHDA, the property will be rezoned from A-1 One Family Residential to A-3 Multi Family Residential.
MVAH Partners want to buy the property for $220,000 and convert the land into the senior housing development.
One of the seven conditions for the development from the City of Coldwater calls for construction to start by June 30, 2021.
