Sheriff’s Meadow Foundation and the Martha’s Vineyard Land Bank issued the following press release on September 3, 2020:
Sheriff’s Meadow Foundation, the Martha’s Vineyard Land Bank Commission, and Red Gate Farm LLC are pleased to announce an agreement to conserve one of the most important and ecologically diverse habitats in New England. The 304-acre Aquinnah property, among the largest and most spectacular undeveloped parcels on the island, will be known as the Squibnocket Pond Reservation.
Upon completion of a standard biological species inventory and final management plan, the majestic dunes, windswept beach, kettlehole pond, wooded trails and open meadows will be open to the public.
Proposed trails for Squibnocket Pond Reservation
The below-market transaction is expected to be completed by December 15, 2020. The $27 million purchase price will be paid over a four-year period. “The Martha’s Vineyard Land Bank Commission and Sheriff’s Meadow Foundation are thrilled to collaborate on this project of island-wide significance and we gratefully acknowledge the historic and cultural significance of the land,” said Land Bank Executive Director James Lengyel and Sheriff’s Meadow Executive Director Adam Moore.
“We also thank the Land Bank Commissioners and Town Advisory Board members for their support of this effort, and the Sheriff’s Meadow Foundation donors for their generous financial contributions, and the Kennedy – Schlossberg family for their close cooperation,” said Mr. Lengyel and Mr. Moore.
“Our family has endeavored to be worthy stewards of this magnificent and fragile natural habitat, and its sites of cultural significance,” said Caroline Kennedy.
“We are excited to partner with two outstanding island organizations, and for the entire island community and the general public to experience its beauty. We look forward to many more happy years in Aquinnah.”
Additional remarks by Adam Moore
The conservation of 304 acres of Red Gate Farm and the creation of Squibnocket Pond Reservation is the most significant acquisition in the history of Sheriff’s Meadow Foundation.
Conserving this land, and creating the ability for all the people of Martha’s Vineyard to visit and enjoy this land, for all the generations ever to come, has been the pinnacle of my career in conservation. I thank Caroline Kennedy and Ed Schlossberg and their family, thank our partners at the Martha’s Vineyard Land Bank Commission, and thank all of our generous donors for making the creation of Squibnocket Pond Reservation possible.
Of the $27 million purchase price, $15 million will be paid by the Martha’s Vineyard Land Bank Commission, and $12 million will be paid by Sheriff’s Meadow Foundation. Sheriff’s Meadow Foundation will pay $6 million at closing, and the remaining $6 million over the next four years.
At press time, Sheriff’s Meadow Foundation had raised $10 million toward the purchase price, and has available to it a $1 million match from Hansjörg Wyss and the Wyss Foundation to match gifts from new donors. Sheriff’s Meadow plans to raise a $2 million endowment to fund its share of the stewardship and maintenance expenses.
Sheriff’s Meadow Foundation and the Martha’s Vineyard Land Bank Commission will own undivided common interest in Squibnocket Pond Reservation at the 44:56 ratio, matching the proportion of the purchase price paid by each organization. The two organizations will jointly administer and manage the lands. An ecological inventory has begun, and this inventory will serve as a basis for a management plan and all necessary permits and approvals. It is anticipated that the planning process will be complete, and the land will be opened to the public, in late fall 2021.