Putnam's expansion project granted tax incentive
GOFFSTOWN — A proposed restaurant expansion project was approved for a tax incentive on Monday.
The Board of Selectmen voted unanimously to grant the 79E Community Revitalization Tax Relief Incentive Program for the owners of Putnam’s Waterview Restaurant on Main Street.
The tax incentive allows business relief on any improvements that they make to their property.
This means that although the owners will be taxed on the current assessed value of the building they won’t be charged extra if the value increases for five years after the upgrades are made.
More time can be added, however, at the municipality’s discretion. For residential properties, this period lasts seven years and up to nine years if it’s affordable housing.
Though there is technically a residential part of the building on the upper level, owner Patricia Putnam said they were only seeking the five years they were approved for.
“Its been an office and storage,” she said of the residential space.
Owners are looking to add just under 400 square feet to the front of their building for some additional dining space.
“We’re going to add 20 seats to the dining room when we’re done,” said Alan Yeaton, the architect for the project.
The outdoor patio would also be spruced up as well, said owner John Putnam. The picnic tables would be replaced with cafe tables and the gravel would be replaced with more solid stone.
“It will be seasonal seating out there,” he said.
Putnam said that he decided to pursue the addition to coincide with the Main Street paving project currently underway. He said the addition won’t dramatically change the site, but will help to improve the businesses’ “curb appeal”.
“I think we’re not going to impact a lot, but make it a lot nicer downtown,” he said.
Plans still need to be approved by the Planning Board. The Putnams met with them twice already for a conceptual discussion about the proposal and will be back before that board again next week with a site plan.
“We’re almost there,” said Patricia Putnam.