COLDWATER, MI (WTVB) – The Coldwater Downtown Development Authority Board approved changes on Wednesday morning to its two year old Building Improvement Programs which includes rebates and a low interest loan pool to help spur downtown development.
Economic Development Coordinator Audrey Tappenden says the changes were made in order to make the program work more easily and to provide incentives to the kind of projects they want to see downtown.
She says 18 applicants have been approved for funds at 17 buildings so far.
Tappenden said applications have to be filed before work begins on a project and applicants can not alter plans without a resubmittal and approval.
Online applications will also be available.
She said nearly $300,000 has been awarded from an $800,000 loan pool set up by local financial institutions.
One change would be the uses of the loan pool in which business specific equipment would be added to the list of items that maybe financed.
Comments