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International Paper Preserves Connecticut Open Space Through Sale to Trust

GREENWICH, CT-International Paper Co. and the Trust for Public Land have reached an agreement whereby the paper giant will sell 95 acres of land, known as the Treetops, to be preserved as open space for $11.5 million.

By John Jordan | Updated on October 18, 2000

GREENWICH, CT-International Paper will sell approximately 95 acres of land known as the Treetops along the Mianus River in Greenwich and Stamford to the Trust for Public Land according to an agreement reached between the two parties.

The Trust for Public Land, a national non-profit organization, is proposing to purchase approximately 95 acres and a conservation easement over some 10 additional acres from International Paper for $11.5 million. The Connecticut Department of Environmental Protection has committed $3.5 million to the purchase, and plans to take title to the property once sufficient matching funds have been raised from other sources. International Paper will continue to own and manage the historic 33-room Treetops home and about 15 surrounding acres, company officials say.

Public and private funding commitments must be in place by January 31, 2001 in order for the acquisition to move forward. Greenwich has been asked to purchase a conservation easement over 70 acres for $3.5 million and Stamford has been asked to purchase a conservation easement over 35 acres for $1.5 million. Both municipalities are expected to vote on the project soon. In addition, a coalition of non-profits is launching a $3-million fundraising campaign to save the Treetops property.

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