COLDWATER, MI (WTVB) – After a discussion that lasted for over an hour, all of the Coldwater City Council members voted Monday night to table the introduction of a draft sales agreement for nine acres of city property at the former Federal Mogul site on West Chicago.
Coach Road Capital, LLC of Spring Lake, Michigan has made an offer to buy the property on the west side of the city with the intent of turning nine acres of land into a multiple family apartment complex. The developer is seeking an exclusive purchase option on an additional three acres on the north side of the original nine acres.
Coach Road developed the 210-unit Apartments at Sauk Trail north of the Home Depot on the east side of Coldwater.
Council members felt they needed more time to review the proposed agreement. They also raised several environmental concerns about the old Federal Mogul site and wondered if such a development would be the proper use of the land. The need for additional housing in Coldwater and the surrounding area was also brought up during the discussion.
Developer Chad Bush told the Council this is the right location for this project.
The Council is tentatively scheduled to hold a special meeting next Wednesday to discuss things further.
Since it’s an offer to purchase City owned property, if the sales agreement is introduced by the City Council it has to stay on the table for public review for thirty days prior to final action.
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