In 1970, Monahan retired, and cutting operations were suspended while a committee, named by the Trustees of the College in 1968 in anticipation of Monahan's retirement, evaluated the existing policies. The Prentiss & Carlisle Company of Bangor, Maine subsequently prepared a management plan which was transmitted to the college by the committee in early January 1970. This was adopted and referred to as the 10-20 Year Plan with provisions for an annual sustained yield cut of approximately 4,000 cords per year for the following twenty years. The Seven Islands Land Company of Bangor was retained by the college to oversee forestry management and to implement the Prentiss & Carlisle plan.