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In addition to the acres, to be designated open space, Aquarion is proposing to subdivide and sell two, four-acre single family residential building lots.
A Newtown resident, Morrissey has been executive vice president and CFO of Aquarion since 2012.
The event has grown from a handful of participants and awards to one that this year featured hundreds of attendees and the recognition of 57 companies throughout New England.
"The tone of the town has changed" for the better since Vicki Tesoro took office in December, according to Aquarion Water Co. executive Bruce Silverstone.
The deal makes Eversource the only U.S.-based electric utility to also own a water utility.
The deal still faces approval from Massachusetts’ Public Utilities Regulatory Authority.