HomeMy WebLinkAboutLP-07/20/1998LAND PRESERVATION COMMITTEE
TOWN OF $OUTHOLD
Town Hall, 53095 Main Road
P.O. Box 1179
Southold, New York 11971
Fax (516) 765-1823
Telaph~ne (516) 765-1800
AU6 5 - 1998
TOWN OF SOUTHO/D COMMUNITY PRESERVATION PROJECT PLAN MEETING
MONDAY, JULY 20, 1998
Dick Ryan, Brian Murphy, Melissa Spiro, Jean Cochran, Tim Caufield
and Stewart Lower spoke at the meeting. Joe Krukowski, Fred Lee
and Jim Pim from the Land Preservation Committee also attended the
meeting. Brian Murphy was the moderator for the meeting.
Stewart Lowery of the Nature Conservancy explained the 2% Transfer
Tax. There is a lot of misconception regarding this law. The first
$150,000.00 is exempt. Anything over $150,000.00 will be taxed at
2%, which the buyer of the property will pay. This is to create another
source of income to purchase farmland development rights and open space
property. On vacant land anything over $75,000.00 will be taxed at 2%.
Mr. Lowery said that at the present sales in the Town, $1,000,000.00
could be raised.
Dick Ryan informed the audience of the workings of the Land Preservation
Committee and gave a little background of its members. Also, since 1984
$11,000,000.00 by way of six bohds has been used to purchase farmland
development rights and open space land.
Melis'sa Spiro explained the map she has been working on. The green
shows 467 paroles or 6300 acres of protected land. The orange shows
653 parcels or 12,622 acres of unprotected land.
~Tim Caufield of the Peconic Land Trust said that ~e should identify all
options such as:
1. Purchase of development rights.
2. Consel'vation easements.
3. Transfer of development rights.
4. Tax exempt installment sales.
5. Bargain sales.
Jean Cochran said that in addition to the 2% transfer tax, the Town
Board is planning to put another $2,000,000.00 bond issue on the
November ballot. A public hearing on the 2% transfer tax will be held
on August 18th.
The meeting was adjourned at 8:00 p.m.
oy~cPeCt fully submitted~,
e M. Wilkins
Secretary