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Home My WebLink About2019 CPF e_ OFFICE LOCATION: MELISSA A. SPIRO ,0F SO(/jTown Hall Annex LAND PRESERVATION COORDINATOR �0� Ol0 54375 State Route 25 melissa.spiro@town.southold.ny.us (corner of Main Road& Youngs Avenue) Southold, New York Telephone(631)765-5711 N ,e MAILING ADDRESS: www.southoldtownny.gov CoUf��, P.O. Box 1179 Southold, NY 11971-0959 DEPARTMENT OF LAND PRESERVATION TOWN OF SOUTHOLD RECEIVEU March 11, 2021 Mf~! 2 2021 Thomas P.DiNapoli Southold Town Clerk New York State Comptroller ----1-1-0-State-Street------- Albany, -.1-10-State_Street_ - _ --Albany, NY 12236 Re: NY Town Law—Chapter 62,Article 4,Town Board § 64-e Peconic Bay Region Community Preservation Funds Dear Mr. DiNapoli: In accordance with paragraph 12 of§64-e Peconic Bay Region Community Preservation Funds,NY Town Law Chapter 62,Article 4,I submit to you herein a copy of the independent audit of the Town of Southold Peconic Bay Community Preservation Fund Financial Statement for the year ended December 31, 2019 as prepared by Rehn&Maresco,Certified Public Accountants. A legal notice of the completion of this audit has been posted in the Town's official newspaper and on the Town Clerk's bulletin board.The audit is available for public review at the Town Clerk's office and on the Town's website (www.southoldtownny.gov). Sincerely, Melissa Spiro Land Preservation Coordinator /md encs.: 2019 CPF Financial Statement Legal Notice cc: Elizabeth A.Neville, Southold Town Clerk w/o encs. Kristie Hansen-Hightower,Town Comptroller w/o encs. SUFFOLKTIMES.COM I MARCH 11, 2021 1 45 -LEGAL NOTICES iday at 3 p.m. Submit notices to quickadcreator.com Information:NYPublicNotices@ny�ewspapers.coiTi.*.,.%,.,.;,e..,,,...,.,",,,- Notice of Formation of 614 Notice of Formation of C5 'Notice of Formation of D&D Dunne Notice of Formation of Heirloom SAGTPK LLC.Articles of MCGIBBONS LLC.Articles of Construction LLC.Articles of Taste LLC Articles of Organization Organization filed with Secretary of • Organization filed with Secretary of Organization filed with Secretary of- filed with Secretary of State of NY State of NY(SSNY)on 1/25/2021. State of NY(SSNY)on 1/25/2021 State of NY(SSNY)on 1/20/2021. (SSNY)on 1/4/2021.Office -Office_location:,Suffolk_County._,^---Office•loCation:Suffolk County.--------Office-location:-Suffolk-County--------location:Suffolk County._SSNY.______.___ SSNY designated as agent of LLC SSNY designated as agent of LLC SSNY designated as agent of LLC designated as agent of LLC upon upon whom process against it may upon whom process against it may upon whom pror.Pgg a0ainat it may whom process against it may be be served.SSNY should mail be served-SSNY should mail be served.SSNY should mail served.SSNY should mail process process to;51 Division Street,PMB process to;8400 Main Road process to; 145 Grange Road to;735 Flanders Rd Flanders NY 186 Sag Harbor NY 11963. Mattituck NY 11952.Purpose:Any Extension Southold NY 11971. 11901.Purpose:Any lawful Purpose:Any lawful purpose lawful purpose Purpose:Any lawful purpose purpose Notice of Formation of New Lens Photography.Articles of LEGAL NOTICE NOTICE IS,HEREBY GIVEN that' Notice of Formation of Paddock on Organization filed with Secretary of NOTICE OF SPECIAL MEETING the Town of Southold Peconic Bay Fl,LLC.Articles of Organization' State of NY(SSNY)on 1/21/2021. NEW SUFFOLK ' Community Preservation pund filed with Secretary of State of NY Office location:-Suffolk County. COMMONSCHOOL DISTRICT Financial Statement for the Year (SSNY)on 1/28/2021.Office SSNY designated as agent of LLC SUFFOLK!OUNTY,NEW YORK Ended'December 31,2019 is on file location:Suffolk County.SSNY upon whom process against it may (Cutchogue-New Suffolk Library' in the Southold Town-Clerk's Office, designated as agent of LLC upon be served.SSNY should mail District Southold Town Hall,53095 Main whom process against it may be process-to;-24 Adams ave- - :`Road,Southold,New York-,,-and is__.._ served.SSNY should mail-process Wyandanch NY 11798:Purpose: The Board of Trustees of the Now- - available-for public inspection and to;c/o J:Christopher Wilmerding- Any lawful purpose Suffolk Common School District, copying during regular business 8309 Stenton Avenue,Wyndmoor Suffolk County,New York,HEREBY days and:hours Monday through PA-1 9038.Purpose:Any lawful Notice of Formation of SIMPLY& - GIVES NOTICE to the qualified .,Friday,8:00 A.M.to 4:00 FW.and purpose SINCERELY SIMON LLC.Articles voters residing in the New Suffolk is also available for viewing on the' of Organization filed with Secretary Common School District that. Town's website: of State of NY(SSNY)•on -. • balloting will be meld at the, www.southoldtownny.gov, ' NOTICE'OF PUBLIC HEARING 1/22/2021.Office location:-Suffolk •Cutchogue-New Suffolk Free:' Dated:March 2,2021 • , - 'VILLAGE OF GREENPORT' County:SSNY designated as agent Library,27550 Main Road;' ELIZABETH A.NEVILLE ZONING BOARD OFAPPEALS ,of 1,1_6upon whom process'against Cutchogue,New York,on Tuesday, SOUTHOLD ToWK-CLERk NOTICE IS HEREBY GIVEN that t may be served.-.SSNY should mail April 6,2021 at 2:00 p;m.;.pr,, pill g pursuarit to.Chapter 150,Zoning; process to;77-8th'ave•Huntington time,for-the'purpose'of voting upon - Article V,'Section 15047A of the Station-NY 11746.Purpose:Any- the proposition hereinafter set - ANNUAL ELECTION-OF THE, Greenport-Village Code,the Zoning lawful purpose - forth:.Polls for the purpose,of ., SOUTHOLD PARK DISTRICT Board,of ApgeaIs will,conduct a voting will be-kept opento qualified' • -Oq April-1 13;2021. .public,hearing at the Station One Notice of Formation of.Ampere voters residing in the f�ew'Suffolk ` `: 'NOTICE IS HEREBY, Firehouse located at Third and Aerial-Systems,LLC.Articles of Common School District.between GIVEN-thatthe AnnualcBleotion of ,y, -South Streets;'Greehport;N.Y. Organization filed with Secretary of the hours•of_2:00.p.m.and BOO,' the Southold Park District will take 11944 on Monday,March 15,2021 State of NY,(SSNY)on:2/9/2021. p.m.,prevailing time. place-on April 13,2021'between the ; co'mmencing at 6:00 p.m.regarding Office location:Suffolk Couhty•- Hours of 6}:00 PM and 8:30 PM at the following application'or matter: SSNY designated as agent of LLC = =the Southold'Fark District=offices Jenna and Donald Williams upon whom process against it may PROPOSITION located in the'Wharf House,1025 511 Carpenter Street be served.SSNY should mail Terry Lane,Southold,New York-for- Greenport,NY 11944 'process to;4 Cedar Ln Manorville, -Shall•the-Board of Trustees of the.; the purpose of electing one SCTM,#10014.-3-32 NY 11949.•Pu�pose:,Any lawful New Suffolk Common School' Commissioner for a three`(3)year' , The'applieanf proposes,to connect, purpose District be'authgrized to,request__ term commencing April 13;2021 twq'buildings to be classified as: an appropriatioo-of X214;118.79` "_ '•ahci ending-AApri(A4'2024. All-' one, and'make,alterations/changes Notice,is hereby given:to all"-. for tlie;periocl of July.1,2021"to persons residing fn the;District,at• to the `building.This-"property is residents within the Southold Park. June 30,2022,an increase of ilea6t'$0 days prior-tdAtie,election , ,located in the R-2"(Orae and Two- District that.Kayak Slips at South ' $6,718.17,for the beriefitpf the, ; - and,registered to votewith`the • Family),District and is•located in the -.Harbor:Beach will available in 2021., Cutchogue-NewSuffofk Free•,- Suffolk CountyBoard pf;elections "Hi9toric District.-•: This, property- -Only roperty-•Only one application for ONE.Kayak. Library by levy of a tax upon,the at least,23 days beforej6e;electton requires area-and use variances. -will be accepted,per houseFiold•' = -taxable-property of the,New shalC be;eligible to vote.M, 1,Building Height-Requirements. Tfie 2021 fee for use of the sbps:will Suffolk Common ScFiool District? _Candidates fol=bistrict 150-12 District Regulations be$60.00.and the seasonwi[I run =Office shall have iid'es filed'in;' " " One-Family_•dwelling:'-Maz. Height,, `- etition forrn,'si ned b` twee five + 'from Friday.IVIay28tti,202'1 through- , --• '--'' -'` •` - - p,_, 9 Y,. ty-• 35',oC•2 /z Stones'(R-2).The plans• - Monday'October I ith,'2021.- NOTICE�IS-F•URTHER GIVEN that' qualifigd voters of the distrfcf,with = show a, proposed third floor The following'-'letters of intent" •_absentee'ballots shall be made the Secretary of the'Southold Park addition."This would require an area must be submitted in writing stating-• zavailable in accordance with the District,on(?r before March 23, variance for a third•story: the following information: provisions of,Section:2018-a•of 202.1.=The form,of petitionds -Z Lot=Cbverage•Requirements. • applicant's name(residing the Education,La�w. Applications -_.available from the-District•Secretary '150-12 District Regulations_ ' in Southold Park'District) for such absentee ballots-may',be' afSouthBox One-Family otd Park District,=P.O. -dwelling: Max. lot • street address(Southold' obtalned•by mail or in person .,959;Southold--NY 11971"(631)765-_ cb'verage: 1,437 SF dr 30%"(R-2). ' Park District resident from the District Clerk,Jana 6019. The plans show the lot coverage is address) Pdndle at P.O.'Box 51,New 2.525- SF -or 52%. This would •-mailing-address- _Suffolk,NY 11956=0051. Such 'Board of Commissioners Southold require an area"variance of a-22% • telephone numbers application, tie received by Park District lot covera9e increase. p (.) ' the District Clerk at least seven Daniel Hagerman 3. Front - Yard Setback• " • ' Applicant"must also'submit (7)days before the vote if the 'Thomas Helinski Requirements: ' a filing fee in the form of a ballot is to be ma0ed to the voter, William Byrnes 150-12 District.Regulations check or money order in or the day before if the ballot is to By: Eileen Sayre,Secretary/ One-Family dwelling: Front Yard the amount of$60.00 made be delivered personally to the-- Treasurer "` Setback:,30-feet (R-2). The plans, payable to"Southold Park Voter. A list of.all persons to show the front yard of the 2-story District"which will be whom absentee ballots have building setback of 1-foot, 6-, applied to the rack fee if been issued will be-posted at the inches. This would require a front' the applicant is a lottery polling place. - yard setback area variance of 28- winher or will be,retumed if feet,6-inches. the applicant is a non- By Order of the Board of Trustees 4.- Side Yard Setback. winner. Filing•fees for Jana Prindle,District Clerk _ ,^' ; ' ,_ Requirements., lottery winners who do not New Suffolk Common School fi4 150-12 District Regulations use the winnind slips will nict,,ict rinn-Fnmih. H—fli.,.,• Q,A_ 'vim.,+ TOWN OF SOUTHOLD PECONIC BAY COMMUNITY PRESERVATION FUND FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31,2019 HEMMED FEB - 8 2021 LAND PRESERVATION DEPT Town of Southold TOWN OF SOUTHOLD PECONIC BAY COMMUNITY PRESERVATION FUND TABLE OF CONTENTS DECEMBER 31,2019 Page INDEPENDENT AUDITOR'S REPORT........................................................................................... 1 FINANCIAL STATEMENTS BalanceSheet.......................................................................................................................................2 Statement of Revenues and Expenditures............................................................................................3 Notes to Financial Statements.............................................................................................................4-5 Kelm ® Maresco EPA's INDEPENDENT AUDITOR'S REPORT Southold Town Board Town of Southold Southold,New York 11971 We have audited the accompanying financial statements of Town of Southold Peconic Bay Community Preservation Fund which comprise the balance sheet as of December 31, 2019, and the related statement of revenues and expenditures for the year then ended,and the related notes to the financial statements. Management's Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement,whether due to fraud or error. Auditor's Responsibility Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to entity's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Opinion In our opinion,the financial statements referred to above present fairly,in all material respects,the balance sheet of Town of Southold Peconic Bay Community Preservation Fund as of December 31, 2019, and the revenues and expenditures for the year then ended in accordance with accounting principles generally accepted in the United States of America. December 13,2020 East Setauket,New York 1 286 Main Street•East Setauket•New York•11733•T:631-751-3886•F.631-751-2740 TOWN OF SOUTHOLD PECONIC BAY COMMUNITY PRESERVATION FUND BALANCESHEET DECEMBER 31,2019 ASSETS Restricted cash $ 8,589,563 Due from other governments 1,272,461 Accounts receivable 978 Prepaid expense 6,893 Land and development rights 124,149,106 TOTAL ASSETS 134,019,001 LIABILITIES Accounts payable 21,228 Bonds payable 18,838,335 TOTAL LIABILITIES 18,859,563 FUND BALANCE Fund balance-restricted 115,159,438 TOTAL LIABILITIES AND FUND BALANCE $ 134,019,001 See accompanying notes to financial statements. 2 TOWN OF SOUTHOLD PECONIC BAY COMMUNITY PRESERVATION FUND STATEMENT OF REVENUES AND EXPENDITURES FOR THE YEAR ENDED DECEMBER 31,2019 REVENUES Community Preservation Fund transfer taxes $ 7,666,589 New York State grant 11,714 Interest income 184,120 TOTAL REVENUES 7,862,423 EXPENDITURES Land acquisition costs 13,285,836 Stewardship management 4,892 Stewardship supplies 11,139 Administrative management 343,855 Administrative expenses 4,000 Serial bonds,principal 1,490,846 Serial bonds, interest 655,172 TOTAL EXPENDITURES 15,795,740 EXCESS OF EXPENDITURES OVER REVENUES $ (7,933,317) See accompanying notes to financial statements. 3 TOWN OF SOUTHOLD PECONIC BAY COMMUNITY PRESERVATION FUND NOTES TO FINANCIAL STATEMENTS DECEMBER 31,2019 NOTE 1 -NATURE OF ACTIVITIES AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Nature of Activities In 1998, the Peconic Bay Community Preservation Fund (the "Fund") was established by voter referendum. The Fund is financed by a 2% real estate transfer tax through 2050. The overall goal is to preserve open land and farm land by purchasing open space and environmentally sensitive lands. Funds are also allowed to be used for management and stewardship of the acquired properties. The Peconic Bay Community Preservation Fund is accounted for as a major fund in the Town of Southold, New York financial statements. Basis of Accounting The financial statements have been prepared on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America ("GAAP") as applied to governmental units. The Governmental Accounting Standards Board ("GASB") is the accepted standard setting body for establishing governmental accounting and financial reporting principles. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amount of assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Cash and Cash Equivalents Cash consists of funds deposited in demand accounts and time deposit accounts with maturities of less than three months from the date acquired by the Fund. NOTE 2—BONDS PAYABLE Serial Bonds for $17,023,243 are dated October 4, 2016. Denominations are maturing on February 15' each year through 2030. Interest rate is 4% through 2020. It is 3% in 2021 and then 4% from 2022 to 2025, 2% in 2026 to 2028,2.125% in 2029,and 2.25% in 2030. 4 TOWN OF SOUTHOLD PECONIC BAY COMMUNITY PRESERVATION FUND NOTES TO FINANCIAL STATEMENTS DECEMBER 31,2019 NOTE 2—BONDS PAYABLE (Continued) The maturities of the bonds for the next five years are as follows: Principal Interest 2020 $ 1,088,708 $ 391,830 2021 1,137,599 352,991 2022 1,160,426 312,719 2023 1,194,219 265,626 2024 1,262,892 216,484 2025 and thereafter 8,008,285 525,489 $ 13.852.129 $ 22 06 Serial Bonds for$5,847,244 are dated July 29, 2015.Denominations are maturing on March 1st each year through 2030. Interest rate varies from 2% for 2018, 3% for 2019, 4% for 2020, 4.76% for 2021, 4.88% for 2022,4.57%for 2023, 5%for 2024 until 2027,and 3%for 2028 until 2030. The maturities of the bonds for the next five years are as follows: Principal Interest 2019 $ 419,947 $ 205,485 2020 419,947 187,100 2021 419,947 166,863 2022 467,297 145,946 2023 504,364 126,843 2024 and thereafter 2,754,704 288,658 $ 4.986.206 $ 11 1 NOTE 3 - SUBSEQUENT EVENTS The Fund has evaluated all subsequent events through December 13, 2020, the date the financial statements were available to be issued, and determined that, except as discussed below, there were no events which have occurred that would require disclosure or adjustments to the financial statements. 5