Barney House Sale Generates
The $1.52 million sale last April of the 21-room Barney House on Mountain Spring Road has resulted in the creation of new scholarships for students to attend the University of Connecticut and the release of an endowment fund to benefit the Farmington Village Green & Library Association.
During a ceremony Oct. 24 at the Farmington Library, President Philip E. Austin announced the transfer of endowment funds to the library and the establishment of two scholarships, including a Nutmeg Scholarship in honor of the Barney family.
"The Barney family has played an important part in the life of the Farmington community, with a special commitment to education and health care," said Austin. "It is particularly appropriate that we recognize their contribution by using a significant portion of the resources generated by the sale to the establishment of a scholarship in their honor."
The Barney House was built in 1832 on an estate once home to former Gov. John Treadwell. The Barney family acquired the property in 1890 and kept it as a private residence until 1974, when they donated it to UConn.
The University of Connecticut Foundation Inc., which conducts private fund raising and manages investments on behalf of the University, operated the home as a conference and banquet facility. The house was placed on the market in October 1999.
The sale of the house has enabled the University to establish an endowment to fund an additional Nutmeg Scholarship named for the Barney family. The scholarships, UConn's most prestigious, honor the exceptional academic accomplishments of Connecticut high school seniors. One outstanding student from every Connecticut high school may be nominated to apply for a Nutmeg Scholarship, valued at $12,500 annually.
The sale also released two other endowments, one to establish a new scholarship for Farmington area students to attend UConn and the other to benefit the Farmington Village Green & Library. The latter, valued at more than $307,000, was a bequest established by Sarah Lefferts, Austin D. Barney's sister.
UConn is engaged in a $300 million fund-raising
campaign. In June, the University passed the
halfway point of Campaign UConn, with more than
half the amount already raised in gifts and
commitments. The University is seeking $75 million
each in support of scholarship and faculty
endowments and $150 million in program support.