GREENFIELD — As the Greenfield Redevelopment Authority drafts a request for proposals for the former First National Bank building on Bank Row, potential uses range from a boutique hotel to a concert venue.

With plans to publish its RFP in the early summer, authority members drafted a range of options for the building last week. The authority clarified that a developer could either purchase the 1920s bank or lease with the intention of purchasing by a certain deadline.

“Property acquisition can include a lease-to-own [option] within a set deadline,” Community and Economic Development Director Amy Cahillane said. “So we won’t include, just to be clear, the option of strictly leasing, the property. … I think it’s unlikely that somebody’s going to want to come in and just lease.”

Since the quasi-public Greenfield Redevelopment Authority acquired the bank in 2017, two potential buyers have shown interest in redeveloping the property, and both have visited the site.

Cahillane previously said one architectural firm would like to transform the property into a food court and the other is considering a second-floor recording studio for music or podcasts, with a first-floor, cafe-type food establishment that could accommodate small or “informal” live performance acts.

She said the building does not have the “load-in access” necessary to accommodate a full band.

In discussing development guidelines, Cahillane said that the project must “activate the building, support downtown revitalization efforts, contribute to the character of downtown,” and “honor and preserve” the building’s historic facade.

Cahillane also reviewed acceptable uses for the building, drafted in accordance with the city’s Bank Row Urban Renewal Plan.

She listed a retail establishment, including bars and restaurants, a theater or gallery, business offices, open space such as a pedestrian plaza, or a creative space as among those uses.

She added that the space could also become a craft or makerspace workshop, boutique hotel, food hall or pop-up shop, or residential complex.

“I’d like to suggest that we add something that is arts and culture supportive, but not a performing arts space,” Cahillane said. “If we wanted to add something like a gallery.”

Greenfield Redevelopment Authority member Otis Wheeler stressed that with the Hawks & Reed Performing Arts Center located in close proximity to the former bank, adding “arts and innovation space” to the list of acceptable uses could help attract alternatives, as opposed to a performance space that would compete with Hawks & Reed.

The First National Bank was last in operation in 1976, and consists of 6,600 square feet on both the ground floor and basement levels, along with a 670-square-foot mezzanine.

It still features several elements of its earlier days, including a circular check-writing kiosk, doors to the bank safe and a corner-office fireplace.

Given that initial RFPs in 2022 have failed, Cahillane said the Greenfield Redevelopment Authority is prioritizing development over profit in the sale.

“Our goal is not to make a ton of money on it. Our goal is to see the property put back into active use and not sit there vacant,” Cahillane said previously. “It has had two failed RFPs already, or one failed RFP that maybe was modified and re-released.”

Anthony Cammalleri can be reached at acammalleri@recorder.com or 413-930-4429.