The mill was contrctured circa 1810 as a single-story structure and enlarged to four floors later in the nineteenth century.  The mill was first used to process wool, but later it became a grist mill, flour mill, graphite mill and finally during the early twentieth century it produced talc.  In 1960, five citizens, known as the "Red Mill Five," purchased the property to save it from deterioration due to neglect. The mill opened as a museum in 1963 and is currently open to the public for tours and exhibits.

The grant helped fund the replacement of the cedar shingle roof.