Ideas for ways to use Gates bequest

CORNWALL — About two dozen residents attended the town budget meeting May 21. They seemed more interested in a planned discussion of a bequest to the town from Judy and Larry Gates than in the spending plans for the coming fiscal year.

Legally, the $251,000 bequest was left by Judy, who died last year. But First Selectman Gordon Ridgway said he is sure her husband, who died in 1996, was in on the decision. She inherited his assets, with the plan to make the bequest upon her death.

Judy Gates was an English teacher at Housatonic Valley Regional High School. Larry Gates was an actor, best known for his Emmy-winning role on “The Guiding Light.�

Their dedication to the town — they were founders of the Park and Recreation Commission and served on various commissions — has extended beyond their lifetimes.

“As many as eight years ago, Judy came into my office and said they were going to do this,� Ridgway said. “We are blessed to have a generous couple in Larry and Judy Gates to remember us in their will.�

In prior discussions, the selectmen and finance board members reached a consensus to recommend the funds be invested, with the earnings being tapped for things such as scholarships.

Participants in the May 21 meeting agreed — including many people who had known the couple. They liked the idea of letting the money work in less dramatic, but long-term and consistent ways, much in the same way that the Gateses served the community.

The next step, Ridgway said, is to look into investment vehicles, and project how much will be available to spend annually. One resident said that, since people are being asked to submit ideas, they should know that at today’s average investment rates, the annual earnings will amount to about $10,000.

Ideas are already flowing into the selectman’s office — by phone, mail and in person. Ridgway said there have been so many ideas, the money could be spent two or three times over.

Ideas include helping to fund existing scholarship programs, such as the Frost Scholarship at the Cornwall Child Center and the Hepprich Scholarship for children of Cornwall Fire Department members.

Setting up an endowment has been suggested for a variety of uses, including, as one letter-writer put it, “to be used by the Board of Selectmen over time in moments that no one can anticipate.�

Another asked that Cornwall’s affordable housing needs be considered. Yet another suggestion was for radar speed control signs in the center of West Cornwall. It was further suggested the signs, of course, be solar-powered.

One suggestion that will remain in the field of dreams category is the building of a Babe Ruth-sized ballfield and calling it Gates Field.

At the meeting, suggestions included a dramatic arts endowment, to honor Larry Gates, a scholarship fund that focuses on a different field of interest each year and an expansion of town sports offerings.

Katherine Gannett, a long-time friend of the Gateses, said Larry liked to use an expression she hopes the town won’t live by: “Show a man money and watch him act funny.�

Finance Chairman Ralph Gold said the subject is far from closed.

“Keep the ideas coming in. This is quite an opportunity. We want to involve as many people as we can and do it right.�

The goal now is to schedule another meeting in the fall to sort through ideas and look at investment and management options.