The 72 acres are part of the approximately 240 acres of land that WPI had owned for more than a century and used as the Alden Hydraulics Laboratory. Since 1988 approximately 27 acres of this property has been used by Alden Research Laboratory and taxed as a for-profit company. The acreage is still used by the WPI cross country teams and several other college cross country teams each fall.
Last year about 120 acres of land (that had previously been subdivided into potential residential lots) were sold to C.B. Blair Development Corp. for an estimated $2.2 million.
Last week's agreement also grants a total abatement of $140,000 to WPI for real estate taxes assessed on the subdivided lots by the Town of Holden for the fiscal years of 1991, 1993, and 1994. This abatement will be made to WPI by reducing by 80 percent the real estate taxes assessed by the town on WPI's real estate taxes in Holden until the entire abatement is credited.
WPI will convey the approximately 72-acre parcel to Holden Youth Sports, Inc. no later than 30 days after the execution of this agreement or such other mutually agreeable time. The agreement also calls for Holden Youth Sports, Inc. to present a development plan for athletic facilities within 15 months to the Holden Board of Selectmen for their review and approval.
"This agreement was reached because of the vision of Holden Town Manager Brian Bullock and the entire Board of Selectmen and Holden Youth Sports President Tom Jordan. We at WPI believe that the citizens of Holden are the real beneficiaries," says Robert Gailey, WPI Vice President for Business Affairs.
Besides Jordan, other officers of Holden Youth Sports are treasurer Joseph Marzilli and clerk Robert F. Dore, both of Holden. Jordan notes that with more than 1,100 children playing soccer, softball and baseball the development of this complex will fill a need within the community. "I hope to present our plans to the Board of Selectmen at the first possible opportunity and take those next important steps of making this sports complex a reality," Jordan said. "And I'll be looking for help to aid in this endeavor." Jordan can be reached at 508 422-0204.