FAQ's
Who owns
the building?
The Gray Building Coalition, a non-profit organization, recognized
by the Internal Revenue Service, purchased the building in July
2003 with a grant from the Vermont Housing and Conservation Board.
The Coalition has 11 local members on the board, and other community
members serve on advisory committees.
How much
will it cost to restore the building?
The total renovation will cost about $1.4 million. The first phase,
which was completed in September 2004, cost a little over $1 million.
What work
still needs to be done to the building?
We have secured the "envelope" (clapboards, doors, windows,
roof), replaced the infrastructure (plumbing, heating, wiring)
and replaced water mains, the parking lot and exterior lighting.
By September 2005 we will finish the second floor, pave the driveway
and finish the exterior and landscaping.
Is there
asbestos in the building?
Not any more. There was asbestos in the basement insulating pipes
and in the linoleum throughout the front hallway but the Coalition
had the asbestos completely removed by a licensed hazardous waste
abatement company.
Who will
use the building?
The Gray Building will be rented to non-profit organizations and
small businesses. Current tenants are: The Northfield Boys &
Girls Club, Headstart, White Pines Middle School, and A Step Above
Dance Studio. The 8th classroom will be reserved as a community
room, available for public use.
How will
the project be funded in the future?
Rental income from seven of the eight 900 square-foot classrooms
will offset annual operating costs. The four classrooms on the
first floor are rented and in September 2005, three more classrooms
will be rented. The interior of the cupola can be rented to a
cell tower company, which will bring in additional revenues. These
monies will be used to fund a reserve for future depreciation
and maintenance needs.
Will you
be asking the town to contribute?
No. Our capital campaign will raise the monies needed to renovate
the building. Campaign monies include federal and state grants,
as well as corporate and individual gifts.
Will the
building pay property taxes?
Yes, the Gray Building has been on the tax rolls since 1998, when
it was sold by the school district.
How much
has the Coalition raised so far?
As of October 2004, the Coalition has raised just over $1 million.
Another $400,000 is needed to complete the project.
