Updated: 8/26/2008 11:55:48 AM
Leadership for the fraternity that owns the land under Arrowmont School of Arts and Crafts said selling the land may be necessary to save the schools.
In a letter sent to fraternity membership, the grand council talks about both the school's independence from the fraternity and the school's financial situation.
The council said the school is not currently able to sustain itself financially and that the fraternity's contributions are not able to close that gap. Financial projections give Arrowmont three to four more years of operation before its cash reserves are depleted.
With part of the proceeds of the sale being offered to Arrowmont, however, the council said the new infusion of cash could give the school new life.
The plan is not without its opponents. An online petition aims to discourage the sale, and demonstrators were outside the school Friday.
