WMU seeks extension on Cole-Gilmore agreement
May 6, 2008
KALAMAZOO--Acting at their May 2 meeting, Western Michigan University trustees authorized the University administration to begin negotiating an extension to the original property agreement for the former Cole-Gilmore location in downtown Kalamazoo.
When WMU obtained the property in December 2001, a seven-year reverter clause affirmed that it would be utilized in concert with local economic development efforts by Dec. 31, 2008. Because plans for the property's use are not finalized, WMU intends to negotiate an extension that would give the University an additional five years to bring its plans to fruition before the property reverts.
Media contact: Tonya Hernandez, (269) 387-8400, firstname.lastname@example.org