, Salem, MA


November 15, 2012

Letter: Little Neck sale upholds intent of trust

To the editor:

It is unfortunate that a group of Ipswich citizens decided to throw stones and cast misdirected blame when they finally realized that their legal challenge to a settlement between the Little Neck Feoffees and Ipswich schools had no merit (“Little Neck sale opponents stop appeal,” Nov. 8).

This ends a costly battle that delayed much-needed funding for the local schools. The court-approved settlement will ensure that the Ipswich schools now have a stream of revenue for years to come as always intended. Our office, and three different courts, all agreed that the primary goal of the trust was to benefit the Ipswich schools, something that had not occurred for years.

The approved agreement allows for the sale of the Little Neck land to the tenants to set up an investment fund, while overhauling the selection and duties of the trustees to create transparency of the fund’s management and use. This is why the School Committee reached the settlement with the Feoffees and why the attorney general assented.

Mary Beckman

Chief, Nonprofit Organizations/Public Charities Division

Office of Massachusetts Attorney General Martha Coakley

Text Only | Photo Reprints

AP Video
Raw: Families Travel to Taiwan Plane Crash Site Arizona Execution Takes Almost Two Hours Gen. Odierno Discusses Ukraine, NATO at Forum Gaza Fighting Rages Amid Cease-Fire Efforts Mint Gives JFK Coin a Face-lift Creative Makeovers for Ugly Cellphone Towers Ariz. Inmate Dies 2 Hours After Execution Began Crash Kills Teen Pilot Seeking World Record LeBron James Sends Apology Treat to Neighbors Raw: Funeral for Man Who Died in NYPD Custody Migrants Back in Honduras After US Deports Israeli American Reservist Torn Over Return Raw: ISS Cargo Ship Launches in Kazakhstan Six Indicted in StubHub Hacking Scheme Former NTSB Official: FAA Ban 'prudent' EPA Gets Hip With Kardashian Tweet Bodies of MH17 Victims Arrive in the Netherlands Biden Decries Voting Restrictions in NAACP Talk Broncos Owner Steps Down Due to Alzheimer's US, UN Push Shuttle Diplomacy in Mideast
Comments Tracker
Roll Call
Helium debate