Jon Faria/TSM

The Rogers School consulting group continues their work narrowing down the possibilities for the historic Fairhaven building's future.

At Thursday's meeting at town hall, consulting group Kirk and Company spoke about how town demographics along with certain tax credits could affect the potential uses for the Rogers School.

Real Estate Counselor Brett Pelletier said the town's medium age of about 42 years-old and a projected population decline makes certain options less viable.

With the population expected to shrink, and less young people staying around, there might not be the demand for previous ideas like additional housing, or even making another school.

"It also points toward, really, not an additional need for school buildings. If populations aren't growing, and the cohorts that are growing are older than 55 years-old or 45 years-old, you're outside of the window of school-aged children production," Pelletier told WBSM News.

Kirk and Company also said the cost to bring the old school building up to modern school building codes would be much higher than other project ideas, making that proposal even less likely.

The final step in Kirk and Company's study is making sure the building's revenue can pay the bills. Whatever they recommend, Pelletier said the money the Rogers School creates, whether through tenants of a mixed use building or other means, has to cover the remaining cost of the project after tax credits.

Simply put, it has to make more than it costs if you want investors.

Kirk and Company expects to present their final recommendation to the town and residents by late February.