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Long Lake to receive net proceeds from sale of Whitney Park, Town told
Summary
Supervisor Clay J. Arsenault told the Town Board that representatives for the estate of the late John Hendrickson say the Town is the sole beneficiary of net proceeds from the sale of Whitney Park; the estate will market and sell the property and remit net proceeds after estate obligations are settled.
Supervisor Clay J. Arsenault told the Town Board at a March 7 special meeting that representatives of the late John Hendrickson’s estate explained the estate has designated the Town of Long Lake as the sole beneficiary of the net proceeds from the sale of Whitney Park. "Ed Hendrickson explained that John Hendrickson designated the Town of Long Lake as the sole beneficiary of the net proceeds from the sale of Whitney Park," the minutes record.
Arsenault said the estate will manage marketing and the sale and that the Town will receive net proceeds after the estate’s obligations are satisfied. When asked about the size of the property, Arsenault replied that it is "36 thousand acres." The supervisor cautioned residents not to assume immediate changes: "this is going to take some time to sink in for the Town, and he is sure we will start hearing mountains of requests, ideas, and criticisms." He said the Town will prioritize protections for the gift to ensure it endures.
The Board did not adopt any spending measures or commitments at the meeting. Arsenault said officials will work with financial advisors and legal counsel to determine next steps and to ensure the gift serves the public good. No timetable for distribution of proceeds was provided at the March 7 meeting.
