Is This The Best Deal

We Can Get?

To the Editor:

After listening to commentary about the proposed Fairfield Hills, Woodbury Hall lease agreement at the public hearing last Tuesday evening, I left with a number of concerns and more questions. As I listened to the public commentary portion of the hearing it was clear many citizens have reservations as to the economic benefit of this potential lease to our town. I, too, have concerns about the transaction as it relates to our town’s interest.

Some would argue getting business going on FFH campus is vital; I agree, but not at the expense of the Newtown taxpayer. Not only current expenses related to lease performance but, more importantly to Newtown, the potential lost income for the next 50 years! Why not a lease with some kind of “participation”? To enter into an agreement seemingly so one-sided smacks of desperation on the part of our town. Are we that desperate? I don’t know, but the negotiation process seems skewed in a way that may preclude Newtown’s long-term financial interests.

Anyone who attended the hearing knows the best case for the developer was made by one of our town’s representatives; a bit unsettling. Who is charged with the fiduciary duty of representing Newtown’s financial interests? Remember, along with fiduciary duty rises the grave specter of personal liability. I would suggest to all parties they very carefully reevaluate their fiduciary duties. If this is the best deal we can come up with in this economic climate, then perhaps sometimes it is better to do nothing at all.

John P. Hughes

4 Grand Place, Newtown                                            January 21, 2009