Farmington board approves seven-year RSA 79-E tax relief for Central Street redevelopment

The Farmington Board of Selectmen voted unanimously on Jan. 5 to find the public benefit met for a Community Revitalization Tax Relief (RSA 79-E) application for 4 Central Street and directed staff to draft a recorded covenant granting seven years of tax relief beginning April 1 of the tax year after rehabilitation is completed.

Architect Kreg Jones described plans to convert the former Farmington Bank building at 4 Central Street into mixed use, noting "9 apartments on the upper level, 3 apartments on the main level and a commercial space on the main." Jones told the board the building has been vacant since 2021 and emphasized the project’s downtown location and historic footprint as public benefits under RSA 79-E.

Planning Director Kyle Pimental told the board the application met the town and statutory criteria and recommended a seven-year relief period as reasonable given the scope of the rehabilitation and the proposed addition of 12 residential units. Pimental told the board the relief period would "begin on April 1 of the first tax year commencing immediately after completion of the rehab work," and recommended the covenant include standard protections such as Planning Board approval contingencies, a completion deadline, casualty insurance and documentation that the project conforms to the plans presented to the town.

In a motion, Selectman John Scruton moved and Vice Chair Charlie King seconded that the board "deem that the public benefit has been met for a seven year starting April 1 of completion and that there be a draft that includes the items that were mentioned in the letter by the Planning Department dated January 5, 2026 including the lien with that draft covenant coming back to the board." The motion passed 5-0. Board members debated whether the board should require a lien on casualty-insurance proceeds; some members said casualty insurance alone might suffice while others wanted lien language preserved as an option for catastrophic loss.

Owner Glenn Nazarian and contractor Adam Danis were present and expressed commitment to completing the project on an ambitious schedule; Nazarian said he expected the work to be finished by late summer. Pimental cautioned that the covenant should be flexible to account for construction delays that are not the applicant’s fault, while preserving the town’s ability to rescind relief if agreed project terms are not met.

The board left the public hearing open earlier in the meeting and later closed the hearing; staff will prepare the draft covenant for the board’s review and recordation with the Registry of Deeds if the covenant terms are finalized. The covenant will specify the public benefits to be maintained, the effective date (April 1 following completion), and expectations for restoration after any casualty event, per RSA 79-E and the town’s planning memo. The board’s direction clears the way for the applicant to proceed to the Planning Board and for staff and counsel to draft the recorded agreement.