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Home My WebLink About274~IS~ND'S END G~LF CLUB 4274 _ ~ ~ay 19, 1960 Page~ ~3 ~ran%~d p~rmission for a ~emporary s~gn for one~ year. ......... LE~G AL NO'~ICE NOTICE -OF HEARING Pursuant to Sectlon 267 of the Law and the provisions of the Amended Building-Zone ~dinance of the Town of Southold, Suffolk County, New, York, public he~gs will be held by the Zoning Board of Appeals of the Town of Southold at the Town Olerk Office. Main Road. Southold, New York, on May 19, 1960, on the following appeals:. 7:30 P. ~vl. (E~.S.T.), upon applica- tio~ oi Frank W. Abrams, Jr., for a special exception in accordance with the Zoning Ordinance, Article IV, Sec- tion 408, for permission to erecl~ and maintain two (2)~,dditional advertis- ing sign,.on the premises located on the suuth side Middle Road a~nd west side Youngs Avenue, Southold, New York. ?:45 P. ,M, (E~D.S.T.), upon aP~plica- tion of Charles Corniburt, a/c End Golf and Country Club, Inc., for a speciai exceptio~ in acco. rdance ~t~ the Zoning Ordinance, Article III, S - tion 300, Subsection 11; for per~hission ~ to erect and maintain an advertising ~sign on the premises on north side ,~Vlain Road (Route 25), Greenport, ~New York leased by applicant, bounded ,north by lands of applJcant, east by !Browns Cabins, south by Main Road, :and west by W. Critchlow a~nd appli- cant. 8:30 P. ~. (E.D.S.T.), upon applica- ti~ of Crabtr~-O'~eeI~ Chevrolet, Inc. (tenant) and Fanning & Hoasner l(ow~er), East Main Street and 209 Flshel Avenue, (respectively) l~ver- head, New ¥o~k, for a special excep- ~tion in accordance with the Zoning Ordinance,' Article IV, Section 400, 'Subsection 9~ for pern~ssion t~ use premises as a public garage. Location of property: North by now or formely of Gagen, east by now or formerly of Gasen. ~auth by Middle Road (Route Avenue, Southold, New York. Any person de~iring 'to be heard on the above applications should appear at the time and place above specified. DATED: May 9, 1960: By Order of the Southold Town Board of Appeals. COUNTY OF SUFFOLK ~ss. STATE OF NEW YORK! Frederick C. Hawkins, being duly sworn, soys that he is the owner and publisher of THE LONG ISLAND TRAVELER - MATTITUCK WATCHMAN, a public news- paper printed at Southold, in Suffolk County; and thor the notice of which the annexed is a printed copy, has been published in said Long Islond Zraveler-Mattituck Wotch* man once each week for ~..,~..~E..~..~.,~. weeks/ successively, commencing on the ........... .,~....~. ................. day of .~.~.~E'. ........ 19.~'~ ........... ~.~...~.~.~. ...... : ............................................. Sworn to before me this ....... .,~.....:~.. ....... day of ......... ......... . ...... ADELE ~ota~ Public, State of New Yore Residin§ in Sullol~ County ~,emmissionNo. 52-3041000 EXpires March 30, 19~/ FOP~M NO. I TOWN OF SOUTHOLD BUILDING DEPARTMENT TOWN CLERK'S OFFICE SOUTHOLD, N. Y. Examined .................................... , 19 ........ Approved .................................... , 19 ........ Permit No ................................. Disapproved a/c ........................................................................................... Application No ................................. (Building Inspector) APPLICATION FOR BUILDING PERMIT INSTRUCTIONS ........... a. This application must be completely filled in by typewriter or in ink and submitted in duplicate to the Building I.nspector. b Plot plan showing Iocat on of at and of buildings on premises, relationship to adjoining premises or public streets or areas, and giving a detailed description of layout of prope`rty must be drawn on the diagram which s part of this location. c. The work covered by this application may not be commenced before issuance of Bui!ding Permit. d. Upon approval of this application, the Building Inspector will issue a Building Permit to the applicant. Such permit shall be kept on the premises available for inspe.ction throughout the progress of the work. e. No building shall be occupied or used in whole, or in part for any purpose whatever until a Certificate of Occupancy shall have been granted by the Building Inspe.ctor. APPLICATION IS HEREBY MADE to the Bu Iding Department for the issuance of a Building Permit pursuant to the Building Zone Ordinance of ~he` Town of Southold, Suffolk County, New York, and other applicable Laws, Ord nantes or Regulations, for the construction of bui d ngs, additions or alterations, or for.removal or demolition, as herein described. The applicant agrees to comply with a applicable lows, ordinances and regulations:' (Signature of applicant, or name, i.f a corporation) (Address of applicant) State whether applicant is owner, lessee, agent, architect, engineer, general contractor, electrician, plumber or bu der If applicant is a c~p~te, signatdre'of duly authorized officer. (~ome ond title of corporote~ officer) 1.. kocotion of I~nd on which proposed work will be done. ~op ~o: ............................................ Eot ~o: .................... 2. State existin~ use ond occuponcy Of premises ond intended use ond occu~oncy o{ pr~osed construction: · . ~xistin~ use ~nd occuponcy '. .......................................................... ~ .................................................................... ' b. Intended use ond occuponcy ........................................................................................ ' ........... : ..................... .'. ...... Repair .................... Removal .................... Demolition .................... Other Work (Describe) ~lli~lt~Jt,:e~' 4. Estimated Cost ......j..~....0~..:...(~.. ...................... ~:!!.~.~.~!i.'~.~..!.1.~:!~:~'.~ ............................................ ~. ......... ~ .................... : ~J:,M.~ JU~q;wJ D;~,~J ,:(to be paid on filing this application) un ts .......... .::.:..~,..,.Numben of;~well ng units on each floor .................................. 5. If dwelling, number of dwelling ' ~'~?~ ~ .......... ~ if garage, number of cars ............................................................................................................................................. 6. If business, commercial or m xed occupancy, specify nature and extent of, each type of use ................................ -, 7. Dimensions of existing structures, if any: Front ............................ Rear ............................ Depth ..............~'....: ............ Height ............................ Number of Stories ............................................................................................................. Dimensions of some structure with alterations or additi'o'ns:'Eron~':;::;;:::'.z;;;,;;....; ......... RelY'.'.;.;...' ............... ~.:~..~-" Depth ................................Height .................................. Number. of. Stories .................................... 8. Dimensions of entire new construction: Front ............................ Rear ............................Depth .......................: .... Height ............................Number'of'Stories::::::;::..::...,.:.:~',..;.::;;.. 9. Size of lot: Front ............................ Rear ............................ Depth ............................ 10. Dote of Purchase .......................... ~a~e o~,~ormer ~ner ........................................................ 11. Zone or use district in which premises are situated .................................................... ................................................. 12.., ~,~o~ proposed construct on .~ o ate .a~y zoging law, ordinance or regulation? ................ : ....................................... 13, Nome of ~ner of premises ........................................ Address .................................... ~ ..... Phone NO ..................... Name of Architect ............................................... ]].~,,~dd?e~; .......................................... Phone NO ..................... Nam~ or, Contractor ~ .., ......... Address ..................... · ..................... Phone NO. .................... PLOT DIAG~M , Locate ~leorly agd,~distinc(~y ali, bg ~ng~, ~hetber,~sbpg, ~riproposed~ and ind~cate,all set-back,,d~mens~ons from p~operty nes ~ ye street a~d block numbers or description ocEor~igg to dee~ and show street ~omes and indicate whether mter~or or corne, r Jot. .... '" "" ...... ;"~ ' STATE OF NEWpYO~J~,~, ) S S ..... ';:',-':i .... ~ ~~-~' ~ be n~ duv sworn, deposes and soys that he is }h~ applicant above named. He is h ..::.~ ......... ~ ....... ~.~ .................... ; ....................... ~....: .......... ~ '~'"~"; ........... , ~ ~ ~,f~ . (Contractor~ agent ~rpor~teq c .) of s,i own, s,' e' d is perfo ha e p rfo? ed"the ,,id work d'to this application; that al statements contained in this application are true to the best of hi% knowledge and belief; and'Th'6¥'Th'~"~6Fk"~ilf'Sb'~kT6'r~d' i~"J~"~t fo~h"in"t~'applic~'ion filed therewith. /~~/~// ~--ntv '~ (S anature of a licant) Not~ ~blic~ .~d..:..~.~.:x .............................. ~u_ , _ PP eOWN OF SOUTHOLD, NEW YORK APPLICATION FOR SPECIAL EXCEPTION TO THE ZONING BOARD OF APPEALS, SOUTHOLD, N. Y. APPLICATION NO.~- ?Z./ DATE.../~.?..~.~ //~ ~O I, (We) Island's End Golf & Count..r~. Club,~f~c. P.O. Box 83~ Name Street end Number Greenport, L.I. New York Municipality State hereby apply to THE ZONING BOARD OF APPEALS for a SPECIAL EXCEPTION in accordance with the ZONING ORDINANCE ARTICLE III SECTION .300 SUBSECTION II THE SPECIAL EXCEPTION IS REQUESTED BECAUSE In the interest of developing a Golf & Country Club in this area, numerous promotional efforts have been ~udertaken to publicize tho forEation of Is- landis End Golf & Co~try Club, Inc. In ~h~effort to further publicize our umdortaking and, to encourage membership we feel it would be most beneficial to errect an appropriate ei~n designating tho sight of tho proposed Golf and Cauntry Club. It should be noted, that the proposed siva if approved: ,,'M_ll not be a pormm~ent fixture since upon fulfillment of our nembership limit~ it will no longer be necessary te solicit same. In an effort to gai~ msxim~tm adv-~ntage of the proposed sign, it would be loc- ated at least thirty feet from tho ~rA~Sbt~ line (away from road) so that it coald be ~iewed by persons traveling in either direction on tho read. Because ~5o sign will be a considerable dist~uce from tho road, we request permission to increas9 ~llowabl~ di~.onsie~s to those indicated below[ GEORGE ~; McMANN NOTARY PUBLIC, State ~[o 52-2633535 Saff0h~ Commission Expires Marcil FOR2~ZB2 ~outhold ~Tc~n ~oa~d o£ ~e~al~ -~, May 19, 1~.0 hav~nq 1~ cons~derod at Public ~e~x~ No. ~,73 on ~ay 19, 1960, and the no.rd £~nd~nq that the puI01~c eouven~enee and ~el~are and Justice ~tll be ~ereed and the leqa~ly est~lbl:L~hed o~ per~t~ uso of neic~bo~hood propeFtlf ~11 not ~e eubstant~fall~,.or ~Jured and ~he ~p:Lr~t o£ th~ ordJ~an~8.~:i~l ~ CF~A~t~ X9 ~he~e malone L~em~nt ~ho ~A~hes ~o ~ £~r thio a~l~ca~ton? the applA.¢atton on behal£ o~ M]:o ¢ozn~urt ~ho ~J unabXo to taken UP m~mb~z~hXt:~ and bough~, bonds. ~ ~z~-C~, ~e Xeaeed ~ ~lgg/ns doee not. go,tug to be a ~rlvat~ cXub? Would ~hat be on the basls that thls ts ~o be a non-pro£1t oz~n~at/on ? (The ehal=man discussed with ~r. Lev/ne the tax s~at~s ~uestlon a~d the ~aXe of ~on~s. ) ~ C~11~U~, ~hat arrangemen~ ~o ~ou have wl~h t~e ~ner of the property? -~ou~oLd ~ ~a~d of Appeals -5- ~y 19, 1960 We have £izst. refusal a'c the end o£ the lease. We have land ~s invo:Lved? ~R. ~.~V~ ;10 ac=es. We a].oo hav~ an opal. on oF spoken agre(Jmen~ fo~: about 40 aczes no2~e. much land belongs ~,o W~gglns ? LR'VI~ OE the 100 oz' 110 acm'es D~.gg/ns o~n, abouD. 30 the r~na:Lnde~. TI~ C~A~ ~:4os~ of the Land ~ould b2 north of the that ~£ght? .~one woulc~ belong to Mit. L~Vi~: Presently none belongs ~o ~1:. Corn~. ~ CHA,,T.R.4A~a The ~uzpoae o£ ?,h:&s club .ts to L"~ca-eat, lonal fac~.lltles. £oz' the a.~ea and fo= guest~ ~.n the MR. L~V~=~ Yes, that is correct. Also pro~e=ty owners the area and ~o~le who w~sh to b~ ho~s ~n the a.rea w~tl ~robebl2f be a~.~acted by the clubo the z~al estate ~axes o~' the proper~y? Tm CHAilUtA~ ~ow ~any ~b~rs' a=e th~=e at the '~esent time? MR. L~VI~E~ %~e have 51 bonds at th/~ t~me but e~ of then multiples, we actually have 40 bond hol~exa. 100 bond h~ers wiX1 the hall roll/rig. That w111 make a pledge of $50~ 000. There be 300 m~s when the club ~ underway. T~ CBIA,II~: Az'e you 9h~ng to bulld a club house;' ~. LBVL~E~ Ortg~nally we ~ere go~ to have the oXd Fordham house, but t~ ~s $olc~, now~ are go~ng to use ~he old ~nce dwell:Lng for c. tub facAl~ties, o££~e~, etc. We are then going ~o buil~ a ~nack baF an~. loc~e~ room. "-'he barn ~ the back o£ the THE ¢~I~, X~ ~hexe anyone els~ present who wishes to a~eak fo= thAs ap~iicat/en? (There was no response,, ) ~ c~t'.~'h Aze there any ~uestions members of the Board would l~:e to ask? ~R. P.=$~E~: Is this lea~e in £or~e n~w? MR. ~.~:VL~: MR. DOSE~ERG~ Are you familiar with the' application of a right t~ have a )~r? ~. LEVII.~E~ All of the activities that W~Uld go wi~h'a' club. MR. ROS~/~ER~t Private club or club? ~. ~i~: ~nat ls the dlfference~ MR. RO~EK~ERGs A ~lvate club i~ not o~ated fo~ a gain. ~ LEVX~Et ~O, At will not be ol~ezatad ~or a ga/ri. We wi11 ~o~ ~a~ve meals. ~. ROBE~E~ WAll At be o~en to the public? Southola Town board of ~ppeals -?- 1960 ~. ROSE~RG~ .,~re ~/~e bond holsters members oF subscribers? ..~R. I~-W/~: There a=e $500.00 bonds. At ~resen~DSt o£ the bond ~tders intend ~o becc~w members. They a~ no~ members a~ this ~R. ~.OS~.~BF/~ Is the Planning Board faa iliar ~h th~s opera.ton o.~ yours? Is the :To~n ~oard familiar w~th i~? ~ th~ ~l~n~ng Board. What do you mea~ ~hen, you say you think so~ ~4R. l~II~,. Well, there has been no xeques~ ~r~m us to them to ~o ~.nyl~hing on that 8core, bu~ there has been quite a bi*. of ~liClty about this. I believe they have ~_~a_~d of MR. Z~OSE~ERG: ~u make the ata'i:.~'ue, nt: now that this is T~E c~I~-t~= Are there ~%ny other questions anyone else like to ask? Mc. L~Vine. ~ am not aura you are ea-/liar with F~S~ }latOna1 ~k of G~n~ ~s ~en ~d ~ ~ ~ ~ ~ ~=~ 'T~oX~ ~ Gre~J~l~e had ~d ~d ~ ~mttted a st~ at ea~ ~d of ~e ~ ~d Ma~ Roa~. If this sigh you sro xeafueating ~-ce permitted it ~ottld have ~ ~ a ~¢ ~a~ Sage ~a~l Se~i~e ~ula ~ ~ ~e ~e ~te~ry as ~e F~t ~ to h~v~ as far am ~. ~%VY~ 2 f~el that this is a special r~quest for an unusual spechal occasion. I ~eel the namem of Sage T~avel Sezvice Southolcl To~n Board of app~al~ -8- 19, 1960 The add~esa and t~lephone numbe= of Sage T~aveL ~(The Cb~tzman discussed with Hr, Le~Xne fur~hez ~easons PXrst Nat. tonal ~ank wouXd not be allowed ~o have ~hel~ name on the ~t. L~V/L~0 '~hen ~ou ~ay smaXXer At wiX1 be Inadequate. The largest slg~ ~t~Xtted Xna business area L/ne. ~4R. X~Xt~l~ AXso, thls sign Xsa 't:~ozaz~J' one to ~ ~ ~11c ~e l~at~-n of the c1~. ~ e~ as t~ ~se 1~ ~1 ~ ~en d~. ~ ~ not a ~~1 It ~ a ~t~ ~ptl~l st~. ~ ~ not a ~~1 1~ ~ ~11c ee~X~ t~ of a~e=tls~. Xf ~ c~ot ~1~ as It 18 appXted for ~ w111 ~ ~ ~le ~ ~t X~ up a~ a11. ReaolutZon ~s offered by ~:-tr.. ~11:l~pie, seconded, by ~. Rosenberg, and carried, ~ applLca~on Of Charles ¢oznLbu~, a/c Xsland's Bnd GOl~ and ¢ount.-y Club, ~Co having been considered at Public H~aring ~gOo 274 mi May 19, 1960 and the BOard f/~nd~ng that Southold ~ ~oa~d o£ A[~eala -9- the ~abl~ convenience and u, elfar~ and Justlce ,~,/11 be sezved and the legally eetablXshed oz' 9em~.tted use o£ neighborhood the sp~r~t o£ the Ord/~ance ~ ~e otme~ved, the~e£oze ~e ~t R~SO~-VZD that the application be cj~ant~l fo~ ~e ~s~ct~ and ~~e o~ a ~, no ~y ~ ~& Vote o£ the ~oard: Ayest-- Mro Glll~pl~, Mr. ~rgen, Mr. Rosenberg, ~4r. ~r~gon~s, and Mr. DOl~n. ~n~LX¢ ~J~R~t 8t30 ~.~. (E.D.S.T.), ~p~eal ~o. 275 - F~g & i~o~ner (~r), ~aet ~ $~et ~d 209 F~she~ (~c~tvely) Rl~rhead, ~ York, ~= a s~c~l ~on acc~ce wl~ ~e. Zon~g ~d~c$. ~tcle ~, Se~lon 400, ~ o~ ~o~ ~o~ ~ now or ~o~rly of Ga~, now or ~o~rly of ~g~, s~ ~ f~e noaa~ou~ 27-A The Chalr~.an opened ~he hea~J,ng by reading application for a specJ~l exception, leg&l not~ce of heax~ng and afEl~avlt attesting to its l:mbl:t, cation In the of£~c/al newspaper. T~ ¢~mUU~ ~ a~ sure you are all aware an applicatXon o~ a a~ ~e for ~e ~e o~ ~ ~ for a ~XXc gange ~ rejected ~ ~y of 1959 ~d Xt ~ul~ ~ ~ss~le. ~X~OU~ ~ges ~ ~ Ord~ce, f~ ~ B~d to ~t ~ appl~ca~on for a ~!t~ ~rage ~leso ~e~ is s~ dinner,ce ~ city,noes ~X~ Xsn't ap~ren~, f~ ~e appl~t~. ~ ~ pre~c~g ~e a~plicat~n wl~ ~ose r~ ~e it ~ght ~stst ~ght s~ for ~z~ ~d O*Keefe. ISLAND'S END GOLF' AND COUNTRY CLUB May 1960 We are taking the liberty of writing to advise you, a Southold Town Property Owner, of the formation of Island's End Golf and Country Club, Inc. It is our sincere hope that your familiarity with our area may impress you, as it has us, with the need of a facility of this type. The creation of Island's End has not been a spur-of-the-moment idea. Its need has been carefully and conscienciously determined through exhaustive surveys. Such factors as accessibility from this area to courses now in existence, specific demand for golf facilities by visitors to this area, availability of an attractive location, the economic effect on the entire locale, and many other factors directly and indirectly associated with an undertaking of this nature have been investigated. Based upon our survey evaluation, it was evident that the formation of a golf and country club was of paramount importance to the con- tinued prestige development of our natural dignified vacationland. The result of this overwhelming mandate was the formation and incor- poration of Island's End Golf and Country Club, and the consumation of a long term lease agreement for a most desireable site approximate- ly one mile east of Greenport, between the Main Road and Long Island Sound. Our ambitious undertaking will cost a considerable sum of money. How- ever, unlike many fund-raising ventures, we do not seek gifts or non- revenue producing loans; we do seek interested investors, people like yourself, aware of the appeal of this area and concerned with its ad- vancement. The investment referred to is in the form of six per-cent interest bearing bonds of $500 par value. Since the inception of our program we have received bond pledges from a considerable number of our local residents. However, to make Island's End the success we know it can be, we need and want your interest and support. Won't you serious4y consider joining us as a founder of Island's End Golf and Country Club ? Thanking you for your consideration and hoping you will call upon us for any additional information you may desire, I am Very truly yours, Charles A.Cornibert, President Office: 325 Main Street Greenport, N.Y. Telephone: GReenport 7-0777 ISLAND'S END ?-OLF AND E:OUNTRY DLUB ~REENPORT, N.Y. BOND SUBSCRIPTION hereby subscribe for .................... bonds of Isbnd's End Golf and Country Club, Inc., and agree to pay therefor in bwful money of the United States of America the sum of Five hunclced ($50(~.00 per bond. Said bond is to be for a term of fifteen (I 5) years with interest af (6%) per annum. In the event the full value of the bonds subscribed herein is not paid af the signing hereof, J agree to pay 25% of the amount subscribed on the signing of fhls subscription and 25% quarter- annually after fha date hereof until the full value of the bonds shaJl be paid, at which flme a certificate or certificates shall be issued fo me for the number of bonds substribed for. Dated this day of 960. ~otLce o£ ~ear:~,ng Pursuant; to Section 267 o£ the ~ Law ~ o~ ~e ~nded BulldOg ~ne O~ce ~ '~e ~ o[ ~u~old, Suffo~ CO~y, New York, ~1~C hear~g~ W~11 Z~g Board of A~ of ~e ~' of Sou~l~ at Cl~k O~f~ce, ~ Road, Sou~old. N~ York, on ~y 19, 1960, on ~e fo11~g Jr., for a s~c~al ~c~ion ~ ~ccor~ce w~ Offence, ~cle ~ Section 4~, fo= ~Ss~n ~n~ ~ (2) add~o~ advert~g s~s on l~ated on ~e ~ou~h ~e M~le R~d ~d ~s~ s~ Yo~gs SOU~Old~ N~ York, 7:45 P.M. (E;D.B.T.), v~On a~J~l~cat~Lon of ~ha~les Corn~burt, a/c Island's End Golf ~d Co~y C1~, ~c., fo= a s~c~l ~cep~on ~ accor~nce w~ ~ Zon~g OrdUre, ~t~cle III, Sec%~on 300, S~ect~on 11, ~r ~ss~on ~o erec~ ~d ~ ~ a~t~g s~ on' ~e pr~ses on nor~ side~ R~d (ROute 25), ~reen~z~ N~ Yo~ l~sed by ap~l~c~t, ~d noz~ by lands o~ applicant, e~t ~ Bras C~s, e~ ~ ~ Road, ~d ~at by l~d of H. C=ltchlow ~d appll~nt. 8530 P,M. (~.D.S.T.)', u~on apl~lication of Crebtree-O*Keefe ~olet, Inc. (~t] an~ ~g ~ ~o~ne= (~U=), East Street an~ 209 F~hel Avenue, (res~utively) R$~=heaa, New York, for a s~c~l ~cepk$o~ ~ ac~r~nce w~ ~ Zonhng Or--Ce, ~lcle ~, Section 400, S~secktcn 9, for ~lss~on ko ~ now or formerly o£ Gagen, east b¥..now or ~r Avenue, So~ld, Any peraon ~esiztng tO l~ heard on, the above applications ,should appear at the time and place~Ove s~ecified. May 9, i960, By order o£ the ;outhold Town Board o£ AppeaLs. PLEA~ PUBLISH OI!~E, HAY 12,, 1960, AND FORI~/) AFFIIDAVIT IMtt~IATI~LY TO Ti~ SOUTHO~ TOWN BOARD OF CL~RK OFFXCIi, /4AIN ROAD, SOUTHOLD, Copiee mailed to the ~olloWtng ohM ay 9, 1960~ Thomas M. Stark, a/c Crab~rae-O'Keef% 'Chevrolet, Lnc. & Fanning & Houaner. Long Island Traveler-Ma~ituck W&tchns~ SOMEONE.SHOULD APPEAR AT THE HEARIN/? ISLAND'c~ ENO GOLF AND CDUNTRY CLUB PROSPECTUS Preliminary Estimate on Cost of Construction for 18 Hole Course: Caplfal Required: Consfrucflon Water System Club House and Snack Bar Maintenance Equipment Parking Area Miscellaneous Equipm6nt Organization Expense, Fees, Design, Supervision TOTAL Working Caplfal ............................................... $ 100,000.00 ............................................... $ 45,000.00 ................................................ $ 35,000.00 ................................................ $ 7,000.00 ......... t ..................................... $ I ,000.00 ......... :: ..................................... $ 2,000.00 Total Required (see note) ........ '! ..................................... MOTE: Part of this may be finenced by Contractors end Suppliers of equipment. ........ i .............. ........................ : $ I0,000.00 ......... r ..................................... $200,000100 I $ S0,000.00 $250,000.00 METHOD OF FINANCING Sale of Debenture, Bonds, 500 Bonds @ $500.00 ea. $250,000.00 Description of Debenture Bonds: Original issue price $560.00 with linferesf @ 6% Cumulative payabie beginning September I st, 1962 (or' sooner if funds available) One year after Club has been in o~eration all members must purchase a Bond. Bonds will be redeemed at this point by the Club from Bond holders and sold to new members, iThe anticipated price will be $750.00. 'Tax Status: In fha opinion of our bccountanfs, this Corporation will be exempt from Federal Income Taxes. (We are in fha process of obtain- ing a ruling from the Internal Revenue Service). ISLAND'S END GOLF AND r~OUNTRY rtLUB ~REENPORT, N.Y. SECOND YEAR FULL OPERATION ESTIMATED INCOME * EXPENSE EXPENSE DUES AND OTHER INCOME 300 Members @ $200.00 per year Green Fees Cart, Locker fees, etc. Snack Bar, Seasonal Beer & Liquor (estimated) TOTAL INCOME INCOME $ 60,000.00 17,000.00 1,000.00 12,000.00 $ 90,000.00 EXPENSE Green Keepers and Helpers $ 20,000.00 Supplies 3,500.00 Wafer (pumping), Gas and Oil 1,000.00 Oil',er salaries 3,000.00 Repair & Maintenance on House 1,000.00 Rent and Real Estate Tax 8,000.00 Snack Bar & Bar Payroll 5,200.00 Golf Pro. 1,000.00 Club Director 5,000.00 Insurance , 1,000.00 Accounflng, legal fees 1,000.00 Heat I ,500.00 Electric[fy 1,000.00 Miscellaneous 800.00 !nteresf on Bonds (September I st, 1962) 15,000.00 TOTAL EXPENSE $ 69,000.00 Sinking fund for purchase property or Bond Redemption Surplus available for improve- ments and replacement : TOTAL $ 21,000.00 $ 90,000.00 NOTES: Income from other proposed facilities not included, Tennis Trap Shooting Bridle Path, etc. $ 90,000.00 · I ...... I I (~) COUNTY OF SUFFOLK I_T_e_~pz SOUTH,)CD _ ......... I~- I'~ .-.' ,~ _'t~lReal PropertyTax Service AgencyJ ............. I 055