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September 2, 2010


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The Chance to Make a Smart Move

Published 11/05/2009 12:00 AM
Updated 11/04/2009 01:06 PM

There is a lot of discussion on the old Griswold Airport purchase proposal. Madison has a unique opportunity to get a triple win by voting for the purchase. First, the town will be able to preserve coastal marsh resources that add to the beauty of our town and the health of our beaches. Second, the town will gain several playing fields and boat launch access to the Sound that can be enjoyed for generations, much like the Surf Club. Third, Madison will avoid the mistake of another uninspired shoreline development that damages shoreline ecology and takes away access to it.

The price for a 42-acre turnkey waterfront park next to Hammonasset State Park is $9.7 million, several million of which will be private donations. In 1988 the property was offered to Madison for $4 million. That means that if you take into account a mere five-percent inflation, the property would be priced at $8.2 million. Waterfront real estate has risen far more than five percent annually since 1988. The deal we have on the table today is better than it was in 1988 and it is lower than the appraised value of the land.

But for all the numbers and the hand-wringing, the bottom line of this purchase is that Madison has the chance to make a smart move by adding to the reasons this is a special place to live and conserving resources for which we are stewards.

Keith R. Ainsworth

Madison

Town News

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