Franklin’s first 79-E project nears completion as the AW Frost Insurance Agency relocates to downtown Franklin and brings an historic building back to life.

The City of Franklin adopted RSA 79-E back in February of 2013 to spur community revitalization and development. RSA 79-E allows the City Council to grant tax relief for approved improvements to qualifying structures in the core downtown area.

Franklin’s first 79-E project was unanimously approved by the City Council on May 5. The AW Frost Insurance Agency, a division of Davis and Towle Insurance group, has been in Franklin for over 85 years. They recently purchased the former Northway Bank building downtown at 354 Central Street. Extensive interior renovations as well as façade improvements are currently underway. The architects on the project are Wilson and Wilson Architects from Bow.

Prescott Towle stated, “We are excited to lead the way as the first business to take advantage of 79-E in Franklin and kick off what will hopefully be the first of many renovations happening in the downtown area. The process to apply for this tax incentive was made very simple by the great staff in the Planning and Zoning office.”

“The City Council couldn’t be more thrilled to support this project and sees this as an enhancement to the economic vitality of the downtown,” stated Elizabeth Dragon, Franklin City Manager. “The Council thanks AW Frost for improving a centrally located structure that is culturally and historically important.”

The Lakes Region Chamber of Commerce will be coordinating a ribbon cutting sometime in August, when renovations are complete. If you or your business would like to learn more about this tax incentive program, please call the Franklin City Hall at 934-3900.