Amagansett Voters Say Yes to Purchase

    The Amagansett Fire District will acquire a two-acre parcel at 415 Main Street, next door to the firehouse, following a public referendum on Tuesday night.
     Amagansett residents agreed to buy the property, the site of the former Pacific East restaurant, by a vote of 140 to 102. Their approval was needed before the $2.8 million purchase could proceed.
     Fire district officials had estimated that a house assessed at $7,950 a year, the median for the hamlet, would pay $87.92 more each year in taxes to cover the cost. The district expects to assume a 15-year bond obligation but hopes to pay it off much sooner.
     The Pacific East parcel was sold at a public auction in Yaphank in May for $500,000. It was incorrectly reported earlier to have been a foreclosure sale.


Comments

This purchase is crazy. The village does not need this property for anything useful. What is the proposed use? The residents do not need a tax hike. And who just pocketed $2.3 million profit on this sweetheart deal? A little better reporting here please, to cast some light on this waste of taxpayer money.
I agree with Rod. And who just pocketed $2.3 million profit on this sweetheart deal? A little better reporting here please, to cast some light on this waste of taxpayer money.