City of Coldwater Downtown Development Authority Agenda April 22, 2026
DDA Continues Loan Repayment to City Under A22-13
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Description
The DDA budget for FY 2027 includes $21,600 in scheduled loan repayments and a $10,000 accelerated payment to the City of Coldwater under loan Agreement No. A22-13. These payments are partially offset by a $2,000 Shackleton Trust beautification grant.
Contract Details
Contract Amount
$21,600.00 annual loan repayment plus $10,000 accelerated payment (net -$29,600 with $2,000 Shackleton grant offset)
Vendor
CITY OF COLDWATER
Agency
City of Coldwater, MI
Contract Type
FINANCIAL_SERVICES
Document Date
April 22, 2026
Contract Term
Loan amortization through at least FY 2028
Renewal Date
2028-06-30
Renewal Info
Loan amortization schedule runs through fiscal year 2028; not a renewable contract but a fixed repayment obligation.
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