EWS Alums For Land ORG

Hello Alums!

We are a group of Ethel Walker alumnae concerned about the School’s proposal to sell their land for a housing development. We believe that selling the development rights to a conservation group is a better solution, because it will reap Walker's millions for its endowment yet allow her to retain ownership and use of the land. The Trust for Public Land (TPL), a national conservation group, is offering fair market value for Walker’s development rights. Selling the development rights to the TPL is risk free. Unfortunately, the School seems to be leaning towards the housing development option because of their overly optimistic revenue projections. It is highly unlikely that a developer would pay above market value without transferring the lion’s share of the financial risk to the school. Here is a comparison:

Trust for Public Land option
 Housing Development option
  • EWS retains ownership and use of land
  • EWS loses land forever
  • No risk of receiving less than fair market value for the land
  • Risk of not receiving fair market value
  • All cash received within 12 months
  • Cash payments over a decade (or longer) with the amount dependent on the following:
    • Real estate market fluctuations
    • Changing laws and regulations (aquifer issue)
    • Infrastructure cost fluctuations
    • Developer’s liquidity: If developer runs out of cash or abandons the project, EWS assumes a huge tax liability for the unsold lots
  • No risk of land being taxed
  • Positive impact on equestrian program with ability to expand into 3-day eventing

The school land is atop a drinking water aquifer. Environmental groups such as Sierra Club, Trout Unlimited, Connecticut Fund for the Environment and Farmington River Watershed Association as well as state groups such as the Department of Public Health in addition to citizens groups such as Keep the Woods and Friends of Open Space support conservation of this land. We are afraid that pursuing the housing development option would be an irreversible and regrettable decision for the school both in the short term and in the long term. If you care about the Ethel Walker School and want this land preserved, contact the school and let them know how you feel. In addition, you can submit your contact information here.  The network of alumnae working toward preservation now includes more than 30 different classes.  Together we can make a difference.