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</o:shapelayout></xml><![endif]--></head><body lang=EN-US link=blue vlink=purple><div class=WordSection1><p class=MsoNormal>Let me say that I, too, have loved walking by the property, loved the mystery of it, and the concept of it. <o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal>But I also consult on business plan and fundraising development for nonprofit organizations, including land trusts, historic houses, and am somewhat familiar with other estates.<o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal>Here are some things to consider:<o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal>The $5million price tag should not at all be out of reach for Blackstone area residents. However, I’m pretty sure the city cannot afford to take on the maintenance of another major park. So if the neighbors are serious about buying the property, it should come with a significant endowment to allow for ongoing maintenance of any buildings, gardens, landscapes, etc. The property could be public, or it could be private, but parks require a big investment in ongoing stewardship. In some ways, raising the money to purchase the land is the easy part. How much car traffic from visitors to the park are neighbors interested in seeing? <o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal>Blithewold Mansion, Gardens and Arboretum in Bristol, which was saved by its community supporters, requires full time staff and a huge investment in weddings and other functions to make its approximately $1.7 m annual budget work (from its 2013 990). Site rentals bring in about $488,000 a year. Fundraising more than that. Then there are group tours, etc. Site rentals are a critical part of the income stream of most historic properties. Is the neighborhood interested in seeing major weddings or other functions virtually every weekend in the spring through the fall? With other indoor functions throughout the year? <o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal>While I am also very supportive of urban farming and incubator farms and model farms and farming apprenticeships etc. etc, and think that it is an imperative for our food security, again, I wonder how interested the neighborhood is in living near all that farming entails (manure, heavy equipment, dust, maybe animals like chickens and goats)? Just trying to get community gardens into the area has been a controversy.<o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal>Gardening/ farming itself is not a lucrative business and places like Stone Barns and the Intervale Center require a creative mix of market gardens, other earned revenue streams and major fundraising to make them work financially. (And both started with a major philanthropist as investor).<o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal>The Aperion Institute for Sustainable Living in RI has had a rocky road finding a financial model that works. <o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal>So I would strongly suggest that neighbors do some research on other properties, develop some business models and check in on the impacts to the community that those other models might bring. <o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal><b>Gayle L. Gifford, ACFRE<o:p></o:p></b></p><p class=MsoNormal>President<o:p></o:p></p><p class=MsoNormal><a href="http://www.ceffect.com/"><span style='color:blue'>Cause & Effect Inc. ®</span></a><o:p></o:p></p><p class=MsoNormal>401.331.2272<o:p></o:p></p><p class=MsoNormal>Sharing hope, tips and resources on our blog <a href="http://www.ceffect.com/blog"><span style='color:blue'>The Butterfly Effect</span></a> and on Twitter @gaylegifford<o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p></div></body></html>