Town Lease Extended For Former UConn West Hartford Campus

WEST HARTFORD, CT — The West Hartford Town Council Tuesday endorsed a plan to extend a municipal lease for the athletic facilities and playgrounds on the former University of Connecticut campus. A series of agreements with owner Fintech Village LLC include a right of first refusal on any sale of the 58-acre property to a third party.

In exchange for more control over any potential sale, the town will temporarily take over maintenance of the landscaping, including mowing grass, trimming trees and bushes, and clearing walkways.

UConn officials said Fintech Village, LLC, a wholly owned subsidiary of Ideanomics, Inc., purchased the property from the university in July 2018 for $5.2 million, when UConn moved its Greater Hartford Campus to downtown Hartford.

According to sale documents, a high-tech firm called Ideanomics Inc. planned to transform the property into a development called Fintech Village.

The entire east side of the land is technically a separate parcel from what's west of Trout Brook at 1700 and 1800 Asylum Ave.

West Hartford officials said the company has since altered its plans to focus on other aspects of its business, and has identified the West Hartford property as a "non-core" asset.

"Consequently, the town is now taking steps to ensure these recreational facilities remain open to the public as it evaluates the potential to acquire the property," West Hartford officials said.

Under the terms of the agreements, Fintech Village, LLC will extend the town's lease for the athletic facilities and playgrounds, which includes the Miracle League Field. The original lease between the town and UConn is set to expire on June 30. The term of the new lease with the private owners is six months with automatic renewal periods.

"The ballfields and playgrounds provide recreational and sporting opportunities for children with physical and cognitive challenges, and making sure they remain open to the community is a top priority for the council," Mayor Shari Cantor said.

The agreements buy the town time to come up with a long term solution for the property West Hartford Town Manager Matt Hart said.

"We appreciate Ideanomics' willingness to work with the town as we evaluate our options," Hart added. "Given the history of this property and its enormous strategic value to the community, we need to take a fresh look at whether it makes sense to acquire it and how we can best make sure any future use is in harmony with the town’s plan of development."

Hart said the town's administration will "move quickly" to assess the financial value of the property and make a recommendation to the Town Council. Hart said the town is exploring ways to mitigate financial liability related to environmental issues on the property.

"Fortunately, we are already very familiar with this property, and the town performed significant environmental assessments and community outreach when we were considering purchasing it from UConn," Hart said. "We will move expeditiously to evaluate it and to identify private and public partners to help redevelop it."