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Coldwater approves Brownfield/TIF plan for Western Meadows to repay $508,000 in infrastructure costs
Summary
After a public hearing, the Coldwater City Council adopted a brownfield/TIF plan covering seven parcels (to become 17 after parcel splits) that will capture incremental tax revenue for seven years to reimburse roughly $508,000 spent on infrastructure for the Western Meadows single-family housing project.
Coldwater Mayor Kramer opened a public hearing and the City Council voted to adopt Resolution 25-35 and approve Agreement 25-13, establishing a brownfield/tax-increment financing (TIF) plan to reimburse the city for infrastructure work tied to the Western Meadows housing project.
The plan covers seven identified properties — which will become 17 parcels after anticipated parcel splits — and is intended to capture tax increment revenues generated as new single-family homes are built. Consultant Connor Zook told the council the infrastructure costs to be reimbursed totaled…
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