The Coldwater Board of Public Utilities voted to move a proposed sale of 20 acres of the utility-held North Willowbrook Road property to the City Council for further action.

Utility Director Jakubzak summarized the property history and the purchase offer: the city and BPU purchased 65 acres in May 2009; the utility previously sold 17.7 acres to Coach Road Capital Partners LLC for the Summit Apartments development. Troutline LLC (identified in the packet as Trotline LLC / Trout Line LLC in draft materials) offered $17,000 per acre for about 20 acres, a total in the packet summarized as $340,000 (purchase agreement draft attached to the board packet), contingent on developer contingencies and permits.

Jakubzak said the parcel is in Coldwater Township and that the sale requires coordination between the city and township under a prior April 25 intergovernmental agreement; the packet also includes a buyback provision and requirements that the developer be responsible for infrastructure improvements, including the lift station, and pursue any applicable brownfield reimbursements and tax increment financing per the draft agreement.

A board member moved to forward Agreement 825-24 to the City Council for final approval; the board voted in favor. Jakubzak said, if the board and council both approve, Troutline would begin permitting and final design work and move toward construction approvals. The packet also included a preliminary site drawing and a buyback provision if developer contingencies are not met.

The board’s motion was to send the draft purchase agreement to the city council; the board approved the motion and the city council is scheduled to consider final action on July 28, according to the materials.