GREENFIELD — Planning for redevelopment of the long vacant First National Bank is inching forward.
After receiving funding from MassDevelopment for a technical assistance grant this summer, the plan for a consultant to conduct a new study of the Bank Row building was delayed for internal administrative reasons, Greenfield’s Community Development Coordinator MJ Adams said.
The project also received $3.5 million of potential state capital bond money, which is not guaranteed, but awarded on the merit of a proposed redevelopment plan.
While the initial hope was for the state-run study on the potential uses of the building, which is in need of hefty repairs particularly to the roof, to be finished by the fall, the new timeline is much more conservative.
“I’m a little frustrated it’s taken this long to get going on the technical assistance grant,” Adams said at a Greenfield Redevelopment Authority meeting, “but we really need to work with MassDevelopment.”
A consultant is expected to begin a study of the 1929 building in January, which may be done around late May, early June. From there, the Greenfield Redevelopment Authority can decide what plans it can afford to move forward with, which will dictate what the building can be used for in the years to come.
Possible uses of the bank has been the subject of a lot of speculation in the community for years. This has included talk of a black box theater or, more broadly, a culture center, which can hold pop-ups and shows.
Conversation has leaped forward since the Greenfield Redevelopment Authority took hold of it last year, acquiring it from the nonprofit Franklin County Community Development Corp., which had owned the property for the last 15 years. The CDC had spent close to $1 million to stabilize the bank, but in 2017 Executive Director John Waite said he estimated it would cost another $1.5 to $3.5 million to finish the restoration.
Greenfield buying the building allows more opportunities to access state or federal funding, according to Mayor William Martin. So far that’s working.
Adams said she and the authority are not making an active call for suggestions on potential uses of the building, because it is very early in the planning stages, but they welcome any suggestions.
In the meantime, Adams and the redevelopment authority board hope to work closely with MassDevelopment, while they know people working there and before any shifts in government leadership. The re-election of the governor helps to keep some stability with the state’s economic development and finance agency, the board said.
“I rather we do it thoughtfully and carefully, rather than shooting from the hip,” Adams said, and the authority “needs to be in strong partnership with MassDevelopment.”
You can reach Joshua Solomon at:
jsolomon@recorder.com
413-772-0261, ext. 264