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Fri December 23, 2011
Northern Pass Offers $850,000 For Balsams Conservation Easement
The Northern Pass hydro-electric project says it would like to buy a conservation easement at the Balsams if the Forest Society doesn’t. NHPR’s Chris Jensen
Earlier this month the controversial Northern Pass project lost in its bid to use land near the Balsams resort for its power lines.
The Tillotson Corporation rejected Northern Pass’ $2.2 million offer.
Instead it agreed to sell a conservation easement for $850,000 to The Forest Society.
That easement covers about 5,800 acres. It seems to have effectively blocked Northern Pass in that area.
But now Northern Pass says it will pay the Tillotson Corp. $850,000 for that conservation easement if The Forest Society can’t raise the money and doesn’t go through with the deal.
Earlier this week Northern Pass asked the state’s charitable trust section to reject that deal.
Northern Pass argued Tillotson failed in its fiduciary responsibility by not taking the extra money.
Tom Deans is the president of the Tillotson Corp.
“We feel very strongly that we have acted properly. We do not have to sell to the highest bidder. Our charge is to distribute to charity the assets that Mr. Tillotson accumulated.”
The charitable trust section has yet to rule on Northern Pass’ complaint.
For NHPR News this is Chris Jensen
To see the Northern Pass offer: http://www.northernpass.us/project-journal/wp-content/uploads/RPI-Tillotson-LOI-12-23-11.pdf
To see The Forest Society's response: http://savethebalsamslandscape.blogspot.com/2011/12/northern-pass-interference-in-balsams.html