Maximizing community control has been a main part of the CDC’s mission since 1979. It is with that in mind that encouraged us to accept ownership of the First National Bank Building in downtown Greenfield in November 2002 when Sebastian Ruggeri offered to donated it to the CDC.

The building, erected in 1929 and vacant for more than 25 years, is a key component in the revitalization of downtown. It is located at an important commercial site on Bank Row facing the town common at Court Square and directly opposite the town hall, and is a part of the Main Street Historic District. The building was named as One of the Ten Most Endangered Historic Resources in MA. During the past 20 years the building has deteriorated to a point that private developers did not want to take on the renovations.

However, downtown Greenfield’s potential for a more vibrant economic and social culture hinges on this area. Making this building a productive, and even beautiful, structure will encourage the development of other underutilized buildings and provide the community with a strong sense of moving forward.

Since taking ownership the FCCDC has worked with many partners and has secured $950,000 for stabilizing and renovating the property. Since June 2003, the parapet, which the Town had determined to be in danger of falling, was removed and stored, all the hazardous materials have been removed and the inside cleaned out, the windows and doors have been secured for security and against the weather and a new roof has been installed. In addition, temporary lighting and ventilation have been installed to further protect the building as it awaits the next phase of renovation. All barricades and scaffolding has been removed from in front of the building.

The town of Greenfield used $551,100 of Community Development Block Grant funding to pay for the majority of the work and the CDC used a $80,000 loan from the Franklin Regional Council of Governments through the Environmental Protection Agency’s Brownfields Loan Fund to ensure that all the work was completed in this phase. In the spring of 2004, Congressman Olver announced that a $200,000 grant from HUD had been secured to continue the renovations. This next phase of renovations will begin when the building has had a chance to dry out further, and additional funding is secured.

During the fall of 2004 the CDC started showing the building to the public and potential tenants. The current vision is to have several retail shops and possibly a restaurant in the building. This is in keeping with the CDC’s goal of assisting local small businesses. The CDC will continue seeking a combination of grants and debt to complete the renovations.

This is a significant building in terms of location and historic value and the CDC plans to develop it with that in mind. The eventual reuse of this building will also make it a centerpiece of commercial activity in downtown and hopefully prompt the renovation and reuse of the other Bank Row and downtown properties.

Other partners in this project so far include:

• Greenfield Historic Society
• Massachusetts Historic Commission
• Greenfield Redevelopment Authority
• Franklin Regional Council of Governments
• Local Initiative Support Corporation