After what Manchester town officials deemed a successful first two years of downtown investment and growth, combined with recent uncertainty amidst COVID-19, the Downtown 2020 Initiative has been extended two years to 2022.
The board of directors this month unanimously voted to extend the program, which was set to expire at the end of the year. Initially approved by the board in 2018, the program touts a three-pronged approach toward investment in the downtown area.
For one, the program offers interest-free loans to help bring some of downtown’s older buildings up to code and modernize them. There have also been a series of capital projects in the Main Street area to improve walkability and the general look of the area.
The third aspect of the program has been restructuring the relationship between the town and the Downtown Special Services District regarding tax rates for downtown property owners.
General Manager Scott Shanley said during the Nov. 10 Board of Directors meeting that the idea for an extension came in part because more than half of 2020 has been a “lost year” in terms of investment because of the novel coronavirus.
Gary Anderson, the town’s director of planning and economic development, said during the board of directors meeting this month that the initiative focuses on “economic growth and downtown vibrancy.” He said the loan program and capital improvement elements of the program have really been hit hard by COVID-19.
The newly extended program will now have a focus on COVID-19-related improvements as well, Anderson said.
Anderson highlighted businesses such as the Firestone Art Studio + Café on Main Street as examples of those that have used the loan program to completely revamp an old downtown building. Before becoming Firestone, Pinewood Furniture called the 1115 Main St. building home for decades.
“Firestone is hanging in there, and it’s really helped accomplish the mission of the program providing some vibrancy and additional activity downtown,” Anderson said.
Anderson said the town is only a few steps into a slate of its capital improvement projects in downtown so far, but additions such as new lights on Purnell Place have been well received so far.
Prior to the board’s action this month, the Economic Development Commission and the Downtown Special Services District expressed support for the extension of the program.