Mad River Corp Land Sale

As many of you are aware the land the tennis club sits on is being sold by Mad River Corporation. Betsy’s children Amanda and Pratt secured a P&S on October 16th for the 1100 acres at 2.5m. The land is being purchased by Lyme Mill Brook LLC which is an anonymous family foundation with a conservation commitment to put all land into a perpetual easement. Lyme Timber Co. is managing the purchase and its being handled by Peter Stein. The Mad River Glen Cooperative has ROFR on the sale of the parcel by November 15th this needs to be approved by the Coop Board first and then voted on by shareholders in 30-60 days if the Coop decides to purchase the land. There are pros and cons on both sides and I’m not going to speculate until the purchase is completed on what the future holds. That being said.

Amanda and Trux discussed the MRTC lease with the purchasers of the land and worked so we have a year to plan for “life after Mad River Corp. as the landowner”. Our lease is being assigned to the buyer as part of the sale agreement. Beyond next year we do not know what a future lease will look like for the club. Once the purchase goes through with either Lyme Mill Brook LLC or the Coop we’ll look to secure an extension on our current lease.

Below is a link to the presentation from the Coop’s emergency meeting on October 29th.

October 29 MRG Board Meeting Presentation & Recording – Google Drive