At its May 1 meeting the Select Board heard from the Historical Commission about available CPA funds and a plan to pursue a National Register listing for the Townhouse building.

Why it matters: An individual National Register listing could make the Townhouse eligible for federal and state historic tax credits that developers can use to underwrite rehabilitation costs, the commission said. That could alter the economics of any future sale or reuse.

The commission reported that state reviewers have asked for a full-town survey before approving a district nomination, which would be much more expensive. As an alternative, the commission proposed pursuing an individual National Register nomination for the Townhouse, which staff said is likely eligible on its own. The commission noted that the National Register process typically takes a couple of years to complete and that the listing could improve developer interest by providing tax-credit eligibility.

Board members discussed pros and cons. One board member said listing could limit future options for the building, including demolition, and asked whether listing would prevent later changes. Staff replied that an individual listing does not legally prevent demolition; if the town were to demolish a listed building it would be removed from the register. A commercial realtor who met with staff recently said the building may not attract strong market offers in its current condition, but board members discussed creative incentives for redevelopment, such as temporary tax abatements or incubator space, and suggested forming a development committee to study options.

No formal action was taken. The board and commission agreed the topic will reappear at or after town meeting as the larger decisions about the Townhouse (reuse, sale, demolition) are tied to other warrant items and funding decisions.