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HomeMy WebLinkAboutLL-2002 #08 NEW YORK STATE DEPARTMENT OF STATE Local Law Filing n, STATE STREET, ALBANY, NY 12231 (Use this form to file a local law with the Secretary of State.) Text of law should be given as amended. Do not include matter being eliminated and do not use italics or underlining to indicate new matter, Town of SOUTHOLD LOCAL LAW NO. 8 OF 2002 BE IT ENACTED by the Town Board of the Town of Southold as follows: SECTION 1. Legislative Findings. The Town Board hereby finds that in 1998, the New York State Legislature adopted Chapter 114 of the Laws of 1998, which authorized Towns in the Peconic Bay Region to establish Community Preservation Funds for the purpose of preserving land for open space, farmland preservation, historic preservation and parks and recreation purposes. The revenue for said Fund was to be derived from a two percent (2%) Real Estate Transfer Tax. This Town Board, by Local Law No. 20 of 1998, did implement the provisions of Chapter 114 of the Laws of 1998. Said Local Law was approved by the electors of the Town of Southold in a mandatory.referendum on November 3, 1998. Pursuant to the provisions of said Local Law, the Town of Southold Community Preservation Fund went into effect on April 1, 1999. The Town of Southold Community Preservation Fund had been an unparalleled success in preserving land for parks and conservation purposes. From April 1, 1999 through May 2002, the Community Preservation Fund in the Peconic Bay Region towns has generated $99.28 million for land preservation. The result has been the acquisition of thousands of acres of land for the public benefit. Authorization for the two percent (2%) Real Estate Transfer Tax will ex. pire at the end of the year 2010. The State has enacted Chapter 250 of the Laws of 2002, which authorizes the Towns to extend the expiration date of the tax until the end of the year 2020. (2) The Southold Town Board finds thal~uch an extension is critical to the contii~ed success of the Town's land preservation goals. It is estimated that an additional ten (10) years of the program, at current rates of revenue generation, will provide more than $300 million in additional revenue for the Peconic Bay towns for land preservation. Further, by utilizing the Southold Town Community Preservation Fund Program in conjunction with State revolving loan programs or other conservation strategies, the Town can buy more land now before it is lost to development and before values escalate further. The additional ten (10) years will provide the necessary revenue stream to fund such preservation strategies. This Local Law implements the ten (10) year extension. SECTION 2. Extension of the Expiration Date of the Real Estate Transfer Tax Section 6-175 of ARTICLE IV, Two-Percent Real Estate Transfer Tax [Adopted 8-25-1998 by L.L. No. 20- 1998] is hereby amended as follows: § 6-175. Effective date; referendum requirement This article is subject to a mandatory referendum as set forth in § 1449-bb of Article 31-D of the Tax Law. This article shall take effect on March 1, 1999, after approval at the general election to be held on November 3, 1998, by the affirmative vote of a majority of the qualified electors of the Town of Southold and filing with the Secretary of State; and provided further that the real estate transfer tax imposed by this article shall expire and be deemed repealed as to any conveyance taking place after December 31, 2020. SECTION 3. Proposition. Pursuant to Section 2 of Chapter 250 of the Laws of 2002, this Local Law is subject to mandatory referendum. Therefore, the following proposition shall be submitted to the electors of the Town of Southold at the general election to be held on November 5, 2002: "SHALL LOCAL LAW NO. OF 2002, ENTITLED "A LOCAL LAW TO AMEND § 6-175 OF.L.L. NO. 20-1998 IN RELATION TO EXTENDING THE EXPIRATION DATE OF THE TWO (2%) PERCENT REAL ESTATE TRANSFER TAX IMPOSED IN CONNECTION WITH THE TOWN COMMUNITY PRESERVATION FUND" BE APPROVED?" (3) SECTION 4. Severability. If any clause, sentence, paragraph, section, or part of this Local Law shall be adjudged by any court of competent jurisdiction to be invalid, such judgment shall not affect, impair or invalidate the remainder thereof, but shall be confined in its operation to the clause, sentence, paragraph, section, or part thereof directly involved in the controversy in which such judgment shall have been rendered. SECTION 5. Effective Date. This Local Law shall take effect after filing with the Secretary of State and after approval at the general election to be held on November 5, 2002 by the affirmative vote of the qualified electors of the Town upon the proposition set forth in Section 3 of this Local Law. (If additional space is needed, attach pages the same size as this sheet, and number each.) DOS-239(Rev. 11/99) (4) (Complete the certification in the paragraph that applies to the fding of this local law and strike out that which is not applicable.) 1. (Final adoption by local legislative body only.) I hereby certify that the local law annexed hereto, designated as local law No. of 20 of the "- ~' rTn,~"~ ~~ of SOUTIIOLD was duly passed by the TOWN BOARD on ~ 20 _, in accordance with the applicable provisions of law. 2. (Passage by local legislative body with approval, no disapproval or repassage after disapproval by the Elective Chief Executive Officer*.) I hereby certify that the local law annexed hereto, designated as local law No. of 20 of the (County)(City)(Town)(Village) of was duly passed by the on 20 __~ and was (approved)(not approved)(repassed after disapproval) by the and was deemed duly adopted on 20 , in accordance with the applicable provisions of law. 3. (Final adoption by referendum.) I hereby certify that the local law annexed hereto, designated as local law No. 8 of 20 02 of the x.-u~..r{t"~ .... ""w'tm;4-'a{T/x.~..jl~.* v .... ~,,r~_J_/~.'~/l/';ll~'~. "~ of Southold was duly passed by the Town Board on August 27 ,2002 ~d was (approved)(nct ........ ~r .......~ ~c.~ ~sapprova!) by the Town Board on August 27 ~ 2002 . Such local law was subm~ed to the people by reason of a refermdm, and received the affimfive vote of a mjoriW of the qualified electors voting ~eon at the (general)(~) election held on .. November 5, 2002, in accordance M~ the applicable prohsions of law. 4. (Subject to permissive referendum and final adoption because no valid petition was filed requesting referendum.) I hereby certify that the local law annexed hereto, designated as local law No. of 20~ of the (County)(City)(Town)(Village). of was duly passed by the on 20 , and was (approved)(not approved) (repassed after disapproval) by the on 20 Such local law was subject to permissive referendum and no valid petition requesting such referendum was filed as of 20 , in accordance with the applicable provisions of law. * Elective Chief Executive Officer means or Includes the chief executive officer of a county elected on a county- wide basis or, If there be none, the chairperson of the county legislative body, the mayor of a city or village, or the supervisor of a town where sUch officer is vested with the power to approve or veto local laws or ordinances. (2) 5. (City local law concerning Charte:rr~evision proposed by petition.) I hereby certify that the local law annexed hereto, designated as local law No. of 20 __ of the City of having been submitted to referendum pursuant to the provisions of section (36)(37) of the Municipal Home Rule Law, and having received the affirmative vote ora majority of the qualified electors of such city voting thereon at the (special)(general) election held on 20 __, became operative. 6. (County local law concerning adoption of Charter.) I hereby certify that the local law annexed hereto, designated as local law No of 20 __ of the County of State of New York, having been submitted to the electors at the General Election of November 20 , pursuant to subdivisions 5 and 7 of section 33 of the Municipal Home Rule Law, and having received the affirmative vote of a majority of the qualified electors of the cities of said county as a unit and a majority of the qualified electors of the towns of said county considered as a unit voting at said general election, became operative. (If any other authorized form of f'mal adoption has been followed, please provide an appropriate certification.) I further certify that I have compared the preceding local law with the original on file in this office and that the same is a correct transcript therefrom and of the whole of such original local law, and was finally adopted in the manner indicated in paragraph 1 , above. Clerk of tl~ounty leg~lativ~ body. (~(ty. Town~'~tllage Clerk or officer designated by local legislatix~e, body Elizabeth A. Neville, Town Clerk (Seal) Date: November 25, 2002 (Certification to be executed by County Attorney, Corporation Counsel, Town Attorney, Village Attorney or other authorized attorney of locality.) STATE OF NEW YORK COUNTY OF SUFFOLK I, the undersigned, hereby certify that the foregoing local law contains the correct text and that all proper proceedings have been had or taken for the enactment of the local law annexed hereto. //signature ~ //~ C~"- Kathleen Murray,'F~q., Assistant Towfl Attorney Patricia A. Finnegan, Esq., Assistant Town Attorney Gregory. F. Yakaboski, Esq., Town Attorney Title Town of SOUTHOLD Date: (3) November 25, 2002 STATE OF NEW YORK DEPARTNENT OF STATE: 4 I STATE STREET ALBANY, NY I 2~31-000 I GEORGE E. PATAKI GOVERNOR RANDY A DANIELS SECR~-TARY OF STATE December 19, 2002 ELIZABETH A. NEVILLE TOWN HALL 53095 Main Road P.O. Box 1179 SOUTHOLD, NY 11971 RE: Town of Southold, Local Law 8, 2002, filed 11/29/2002 The above referenced material was received and filed by this office as indicated. Additional local law filing forms will be forwarded upon request. Sincerely, Linda Lasch Principal Clerk State Records & Law Bureau (518) A7A-2755 WWW. DOS, STATE. MY, U S ' E-MAI L: I N FO(~ DOS. STATE. NY. US RECYCLED PAPER :'~EGAI~ NO~ICE -- the, .'their the on STATE OF NEW YORK) )SS: C~ 0/1~ SUFFOLK) ~~.~/~"'~--~ of Mattituck, in said county; being duly sworn, says that he/she is Principal clerk of THE SUFFOLK TIMES, a weekly newspaper, published at Mattituck, in the Town of SoUthOld, County of Suffolk and State of New York, and that the Notice of which the annexed is a printed copy, has been regularly published in said Newspaper once each week for / weeks succes- sively, co_.mmen~ing on the //.E~, day of ~.~--,~"~ 20~.~.., ~ Pl~ncipal Clerk Sworn to before me this 20~-- dayof LAURA E. BONDARCHUK Notary Public, State of New York No 01 B06067958 Qualified in Suffolk County 20_Qj~" My Commission' Expires Dec. 24, STATE OF NEW YORK ) SS.: COUNTY OF SUFFOLK) ELIZABETH A. NEVILLE, Town Clerk of the Town of Southold, New York being duly sworn, says that on the !/~ ~ day of ~ ,2002, she affixed a -- notice of which the annexed printed notice is a true copy, in a proper and substantial manner, in a most public place in the Town of Southold, Suffolk County, New York, to wit: Town Clerk's Bulletin Board, 53095 Main Road, Southold, New York. NOTICE OF PUBLIC HEARING: 2% Community Preservation - ~l~z~beth ~,. N~vilt~ Southold Town Clerk Sworn before me this ]~'~/day of ~ ~ ,2002. 0 LYNDA M. BOHN NOTARY PUBLIC, State of New Yor~ No. 01 BO6020932 Qualified in Suffolk Countl/ Term Expires March 8, 20, SOUTHOLD TOWN BOARD PUBLIC HEARING August 27, 2002 8:05 P.M. HEARING ON"A LOCAL LAW TO AMEND §6-175 OF L.L. 20-1998 IN RELATION TO EXTENDING THE EXPIRATION DATE OF THE TWO PERCENT (2%) REAL ESTATE TRANSFER TAX IMPOSED IN CONNECTION WITH THE TOWN COMMUNITY PRESERVATION FUND" Present: Supervisor Joshua Y. Horton Justice Louisa P. Evans Councilman William D. Moore Councilman Craig A. Richter Councilman Thomas H. Wickham Town Clerk Elizabeth A. Neville Town Attorney Gregory A. Yakaboski Absent: Councilman John M. Romanelli COUNCILMAN WICKHAM: WltEREAS there has been presented to the Town Board of the Town of Southold, Suffolk County, New York, on the 13th Day of August 2002, a Local Law entitled "A Local Law to amend § 6-175 of L.L. No. 20-1998 in relation to extending the expiration date of the two (2%) percent real estate transfer tax imposed in connection with the Town Community Preservation Fund", and VOtEREAS the Town Board of the Town of Southold held a public hearing on the aforesaid Local law at which time all interested parties were heard, now therefore be it RESOLVED that the Town Board of the Town of Southold hereby enacts A Local Law to amend § 6- 175 of L.L. No. 20-1998 in relation to extending the expiration date of the two (2%) percent real estate transfer tax imposed in connection with the Town Community Preservation Fund, to read as follows: LOCAL LAW NO. OF 2002 A Local Law to amend § 6-175 of L.L. No. 20-1998 in relation to extending the expiration date of the two (2%) percent real estate transfer tax imposed in connection with the Town Community Preservation Fund" BE IT ENACTED by the Town Board of the Town. of Southold as follows: SECTION 1. Legislative Findings. The Town Board hereby finds that in 1998, the New York State Legislature adopted Chapter 114 of the Laws of 1998, which authorized Towns in the Peconic Bay Region to establish Community Preservation Funds for the purpose of preserving land for open space, farmland preservation, historic preservation and parks and recreation purposes. The revenue for said Fund was to be derived from a two percent (2%) Real Estate Transfer Tax. This Town Board, by Local Law No. 20 of 1998, did implement the provisions of Chapter 114 of the Laws of 1998. Said Local Law was approved by the electors of the Town of Southold in a mandatory referendum on November 3, 1998. Pursuant to the provisions of said Local Law, the Town of Southold Community Preservation Fund went into effect on April 1, 1999. The Town of Southold Community Preservation Fund had been an unparalleled success in preserving land for parks and conservation purposes. From April 1, 1999 through May 2002, the Community Preservation Fund in the Peconic Bay Re, on towns has ~enerated $99.28 million for land [~reservation. The result 'has been the acquisition ofthousands ofacres of land tbr the public benefit. Authorization 'for thc two percent (2~) Real Estate Transfer Tax will expire at the end of the year 2010. The State has enacted Chapter 250 of' the Laws of 2002. which authorizes the Towns to extend the expiration date of the tax until the end ol~the year 2020. The Southold Town Board finds that such an extension is critical to the continued success of the Town's land preservation goals. 'It is estimated that an additional ten ('10) years of the program, at current rates of revenue generation, will provide more than S300 million in additional revenue For the Peconic Bay towns for land preservation. FreSher, by utilizing the Southold Town Community Prcsen, ation Fund Program in conjunction with State revolving loan programs or other conservation strategies, the Town can buy more land now before it is lost to development and before values escalate The ad~tional ten (10) yems Mll provide the necess~ revenue strem to ~d such prese~ation s~ate~es. This Local Law implements the ten (10) year extension. SECTION 2. Ext~sion of ~e Expiration Date of the Real Estate Tr~sfer T~ Section 6-175 of ~TICLE W, Two-Percent Real Estate Tr~sfer T~ [Adopted 8-25-1998 by L.L. No. 20-1998] is hereby mended as follows: ~ 6-175. Effective date; referendum requirement This a~icle is subject to a m~dato~ ref~end~ as set fo~h in ~ 1449-bb of ~icle 31-D of the T~ Law. This ~icle shall take effect on March 1, 1999, a~er approvfl at the g~er~ election to be held on November 3, 1998, by the affi~ative vote of a majority of the quafified electors of ~e To~ of Sou~old ~d filing with the Secret~ of State; ~d prohded f~her that the real estate ~sfer t~ imposed by t~s ~icle shall expke ~d be deemed r~ealed as to ~y conveyance taking place after Decemb~31, 2919 2020. CO~C~M~ ~C~: I thi~ ~is is a ~fferent section, Greg? I t~ that we have a mandato~ referendm, do we? TO~ ATTO~Y Y~OS~: We do, tbs law is subject to m~dmo~ referendm. COUNCILMAN WlC~AM: The dates are correct? TOWN ATTORNEY YAKABOSKI: No, no. What this is doing is mending section, the section II that you are reading right now, sites the current reading of section 6-175 and at the last line right before section m, it amends. What you are reading currently exists on the books in Southold, so it simply reflects what happened but we are extending the date. COUNCILMAN WICk: Okay. (Continues reading the Local Law) SECTION 3, Proposition. Pursuant to Section 2 of Chapter 250 of the Laws of 2002, this Local Law is subject to.mandatory referendum. Therefore, the following propositiOn shall be submitted t° the electors of the Town of SOuthold at the general election to be held on NoVember 5, 2002: ,'SHALL LOCAL LAW NO, OF 2002, ENTITLED "A LOCAL LAW TO AMEND § 6,175 OF L:L, NO, 20-1998 IN RELATION TO EXTENDING THE E~IRATION DATE OF THE TWO (2%) PERCENT REAL ESTATE TRANSFER TAX IMPOSED IN CONNECTION WITH THE TOWN COMMUNITY PRESERVATION FUND" BE APPROVED?" SECTION 41 Severability. If any claUse; sentence~ para~aph, section, or part of this Local Law shall be adjudged by any court of competent jurisdiction to be invalid, such judgment shall not affect, impair or invalidate thc remainder thercofi but shall be confined in its operation to the clause, sentence, paragraph, section, or part thereof directly involved in the controversy in which such jud.ement shall have been rendered. SECTION 5. Effective Date. This Local Law shall take effect after filing with the Secretary of State and after approval at the general election to be held on November 5, 2002 by the affin'native vote of the qualified electors of the ToWn upon the proposition set forth in Section 3 of this Local Law. COUNCILMAN WICk: (TAPE CHANGE) I have here a certification fi.om Elizabeth Neville being duly sworn says that on the 16th of August she affixed a notice of which the annexed printed notice is and a proper and substantial bulletin board here in Town Hall. I have also a in the local newspaper. We did have a piece of correspondence here today, to the Town, regarding extension of the 2% Peconic Bay Tax. your consideration of the extension of the 2% Peconic Bay tax. Please as part of your public heating on August 27. 1. Exemptions should be raised ~ and $100,000 for vacant land. As you may know the current limits are $15, and $75,000. The recommendation here is to increase those limits above which 1 that the extension to 2010 is too long and the tax should be re- examined date not only to the program itself but to the exempt amounts. 2. You should start the program funds. The current appraisal process is not rising market it relies on comparables, which are months old, those probably negotiated months before the closing dates and by the time the current appraisals are done even the closing dates are long past. Further, the 50-50 breakdown of should be re-allocated to give more weight to development value since farming, current use and development value is on future appreciation potential. 3. As I haVe with respect to farmland are too narrow, poorly worded and have been too by the Town to accommodate many farmer related transactions. For shoUld be re-worded to identify a parcel as a tax map parcel so that a farm with the ~ sold need not have to subdivide the reserved parcels to qualify for an exemption, easements exceptions should be simplified and made less restrictive, for your consideration. Very Truly Yours, Abigail A. Wickham." Abigail A. Wickham is a distant relative of mine but whom I had no input into writing this. I don't think that we have any other notices on the record for this. SUPERVISOR HORTON: At this point, I would offer the floor to members of the public who would like to address the Board on this public heating. MELISSA SPIRO, LAND PRESERVATION COORDINATOR: As noted, the purpose of this hearing and resolution is to extend the current Community Preservation fund, which sunsets in the year 2010, for an additional 10 years, to the year 2020. What I would like to do is to briefly hi-lite what the Fund has enabled the town to do and to voice my support, and the Land Preservation Committee's support, for the extension. The 2% fund has been used to acquire: development rights on farmland, open space land for open space purposes, for trails and for passive recreation; and the fund has allowed the Town to provide for management and stewardship of properties acquired by the fund. To date, the 2% fund has been used to partially or tOtally fund 12 completed farmland development projects; and 8 completed open space projects. Many more on-going projects are earmarked to be acquired using the 2% fund. To date: over 2.7 million dollars of the 2% fund have been used for the completed farmland ~cts. Over of farmland have been preserved. Over 1.9 million dollars of the Den space projects. Over 140 acres of open space have been preserved. I did a quick on-going projects that could Potentially be fimded by the 2% fund, a,difficult :task as ~the project list is constantly and each project requires an ~ cost is established. However, 5.4 pending projects. To date, total revenue from the 2 % tax, including interest, is ThiS is approximately 200,000 dollars per month. The Town has expended o~er 4. of the fund, leaving over 3.5 million dollars available in the 2% fund. The Community Preservation Fund: has enabled' the town to ep up it's preservation efforts and the extension of the fund enables the town to continue to do I thank you for your support of the extension and look forWard to overwhelming support of the referendum in November. Thank-you. TOM GRATTAN: My name is Tom Grattan, I live on Youngs Avenue in Southold. I am wondering at what point at time, I know that you have 6-month moratorium which should have been 1 year but it is only 6 months, at what point in time are we going to stop this development and this craziness around town? I waited last week one day at Youngs Avenue and Route 48 for 84 cars to pass before I could get out. Something has to be done, the woman brought up about the money that we have why can't we keep that part of it almost zero. In other words, when we have money aggressively go after this land and stuff of that nature. I have a place, 32 acres in back of where I live that they are now applying to put 128 units there with 271 parking places. This was all far 16 homes at one time, that they are trying to get it apprOved, for 128 units. This is only one example of what is happening here in town and I know that you people are not totally to blame, I know that there were Town Boards long before you people arrived. But something has got to be done and I don't know where, I know that the ferry traffic- there is nothing that can be done about that. The ferry is there that was probably 25 Town Boards ago that something should ~ave been done about that but it wasn't. Something has to be done or we are going to havea traffic light at every signal along Route 48 before :long. Thank-you. SUPERVISOR HORTON: Thank-you. Would anybody else care to address the Town Board on this specific hearing? FRANK WILLS: Good Evening, my name is Frank Willis and I live in Mattituck. I would like to suggest narrowing the exemption levels of the 2% tax from $75,000 to $50,000 or $25,000 and the same for a developed lot basically to get more money and in turn to be able to buy more land. COUNCILMAN WlCKHAM: Excuse me, I don't follow you. SUPERVISOR HORTON: The exact opposite of Gail Wicldaams' letter. COUNCILMAN MOORE: To make that net wider, to make more people pay the reverse increasing rather than decreasing. COUNCILMAN WlCKHAM: In the purchase of development rights? SUPERVISOR HORTON: No, the real estate transfer tax-exactly the opposite of what that letter was. COUNCILMAN WICKHAM: I see. ARTHUR TILLMAN: Arthur Tillman, Mattituck. Regarding this proposition and just about virtually any proposition whether it is County, State or Local, the legalese is sometimes undecipherable and could it be possible that in addition to the legal proposition that some way a codicil or something could be added to that so that people do understand what they are voting for? I mean, I am hit with such things as I listen to this, 2% tax, it is conceivable that people will not take the time to fred out ahead of time or read these lengthy propositions and some might be voting against their own interests. That is a question for the Town Attorney. I don't know why we have to be bamboozled with all these legal terms, when you go into the voting booth and sometimes there are lines long enough already and you have to decipher this thing like it is a foreign language. Thank-you. SUPERVISOR HORTON: Would anyone else care to address the Town Board? DAVID SCHLAGER: David Schlager, Orient. I gather that the Town Board hasn't spent all the money that has been. collected so far with this tax to reserve land. Is the Town required not to spend more than is collected? Can you spend money based on projected, future tax collection to buy? SUPERVISOR HORTON: We can borrow against that. DAVID SCHLAGER: You can. I guess that is the only reason I can think of for passing a law now that would involve passing a law now that would extend past 2010. Otherwise, if you were going to spend money that you were projecting to collect much later if you spend it now while land can still be preserved because otherwise I can't understand why it would he necessary to decide now what would be appropriate seven or eight years from now. Is that the reason, do Towns routinely borrow against future collections to do this? While they can actually.. SUPERVISOR HORTON: Yes, that is partly what goes into this. COUNCILMAN WICKHAM: One of the reasons that this is going forward at this time is that all five towns are moving together in concert. There is some concern that the whole authorization for the program could erode at the State level and we are anxious to move ahead and consolidate it at a time when there is support for it and guarantee that it is there. You can borrow against the stream of revenue coming from it as Melissa Spiro explained before and accelerate our purchases now while the prices are relatively moderate. I should also add in connection with Mr. Grattan's comment, the Board is actively considering plans to conserve at least 80% of the remaining farmland that is still open and at risk and at least 80% of the open space, which means wooded and meadows and all of that and see that preserved in perpetuity. That is the goal that the Town Board has in front of it and I believe that at this stage, I believe that we are serious in enacting whatever it takes to guarantee the preservation of that 80 plus percent. JOAN EGAN: With this money and land preservation, the one thing that seems to have disappeared is some kind of a youth center for our children. Money is being spent all over but not for our children. Our children go up to the beach at night, 77 Steps, they drink, they drag. Money should be spent...excuse me, I am not finished. SUPERVISOR HORTON: I am going to ask you to keep your comments specifically on the public hearing. JOAN EGAN: Well, the public hearing is for taxes, percentages. And we don't even have a lifeguard at the East Marion/Orient Beach and it is against the law to swim there. So, I'll be back. LARRY YOUNGBLOOD: Larry Youngblood, Southold. I just want to say that I support the 2% law and I did not want to see the exemptions raised, lowered if possible but certainly not raised. MELANIE NORDEN: Speaking to what Joan just said, some of you probably are aware that Native Americans believe that it is our obligation on this Earth to preserve land for the seventh generation which means seven generations forward and the best gift we can give to all of the children on the North Fork both now andin the future is to preserve the North Fork and our heritage here. And in any case, I have some questions about how the money, the 2% fund is invested. Where it is invested and what its yield is at present? SUPERVISOR HORTON: I don't know what its present yield is to date. The yield naturally changes day-to-day. And where it is invested is, well it actually is a question I could get answered very promptly but I don't have the...our funds do move from bank to bank. We deal with Fleet, we deal with North Fork, Bridgehampton, the Bank of New York as well as Suffolk County National Bank, so these funds are... MELANIE NORDEN: I am aware of that. But we are talking about a major amount of revenue here, we are not just talk about a little bit of excess in the Town Board operating budget. As we project this in to 2020, we are talking about millions of dollars. We are not only talking about millions of dollars in principle but we are also talking about millions of dollars in compounded interest. So I think that as a matter of public record we should really have a thorough going financial analysis and report maybe even refer to something on the ballot that would indicate what the projected revenues are on both in terms of the 99 million dollars but also that probably didn't include the projected interest. My other question is, is both the interest and the principle is there a requirement that both be spent specifically on development rights or can the interest be spent by the Town for other purposes? SUPERVISOR HORTON: No, those moneys that are in that fund, interest and everything involved have to spent on the specific criteria that is listed in the legislation regarding the 2% tax. MELANIE NORDEN: Great. The other question is Mr. Wickham noted with some enthusiasm about our capacity to preserve farmland and open space, I would also like to encourage the Town also to consider some of the strategies that have been actually enacted in the Hamptons which is the notion of preserving single lots or small pieces of property in residential neighborhoods. Everyone who is out here now and who buys property contributes to the 2% and that means people that are in working class neighborhood, working class neighborhoods, people that are in extraordinarily expensive North Fork neighborhoods and there still are nice little pockets of greenery here and there within residential neighborhoods that could really benefit from preservation and it would create a wider base for everyone to feel participated in the preservation. So if we are asking almost everybody not too many dwellings worth less than $150,000 here on the North Fork so es~ r is contributing to the 2%, I would like to see every neighborhood benefit to 2% and if we could look at some of the models that Bridgehampton has have isolated particularly attractive undevelopedl lots in various neighborhoods and then have targeted those. Either consistently or a what of basis, for possible preservation I think that would be something else that the Town might like to consider in a Wider master plan. Thank-you. SUPERVISOR HORTON: Actually your comments are on record and we will be sure, and Tom is the liaison: to the Land Preservation Commission and we will make. sure that your comments and your advice getto the Land preservation Commission. COUNCILMAN RICHTER: I would like to answer Melanie on a couple of issues. One was the interest or the money that is invested on the 2% money. Constraints are very heavily, the guidelines of New York State are well set where the money can be invested and if you would like, I could let you know. SUPERVISOR HORTON: Would anybody else care to address the Town Board on this particular hearing? STEWART LOWERY, DIRECTOR OF GOVERNMENT RELATIONS FOR NATURE CONSERVANCY ON LONG ISLAND: I wanted to applaud the Town for taking this initial step to put this law before the voters on November 5. It was a great idea four years ago when we came forward and did this and it is an even better idea now. There are a lot of reasons that many of you have alluded to and many other speakers have alluded to-the pace of development that we face now across the East End is unprecedented. None of us has ever seen things happening as fast as they are happening now. The price of land is rising there is not as much land available for development and there are also huge demands for what there is. Again, it is an unprecedented situation. We have this tool, the Community preservation Fund that is generating enormous amounts of cash for the five East End towns and we can leverage that tool to bring the money from the future into the present so that we can buy the land now before we lose it to development, while we still have money to do it. So, it is a great idea and an even better one now. There is also available County matching funds which was put into place after the 1998 Community Preservation Fund was passed that are accessible now to the Town and there are State funds that are now available and who knows, maybe someday we will even be able to tap Federal funds for the East End of Long Island if we keep working on that one. I also want to remind the Board and voters that four years ago, environmental organizations and realtors, the Long Island Pine Barren Society, the Long Island Farm Bureau, all of us gathered together under one tent, the East End Community Fund coalition and we ran a campaign to make sure that this measure passed 8 in the five East End towns. I assure you that the Nature Conservancy, the North Fork Environmental Council and the group for the South Fork are already engaged in pulling that coalition back together so that we can run a campaign in support of your effort to bring these funds into the present so that we can protect the best of what remains in Southold and the other East End towns. Again, I want to applaud the Town for its continuing dedication to farmland, open space and critical wildlife habitat protection, placing ds measure on the ballot for November 5 is a significant step towards continuing to preserve the character and environment of the Town of Southold. Thank-you all. DEBBIE O'KANE, NORTH FORK ENVIRONMENTAL COUNCIL: A lot has been said on the extension of the Community Preservation Fund already this evening mostly in support of the extension so I would just like to state that the North Fork Environmental Council is in favor of the extension. We support the extension and we hope that the Town Board will unanimously vote in favor of placing this on the ballot for the November election. I would like to also stress as Mr. Tillman has pointed out, that it is very, very important to educate the public on this particular subject. We run the risk of losing it because referendum sometimes !_h, ey just become very confusing to people or people, will go into the voting booth and think that I don t need to vote on that, that is something that doesnt really apply to me, so I would encourage the Town to think about a Town wide informational meeting on this particular subject: Also to perhaps produce an informational brochure, we would be happy to work together on that with if there are ways that we can partner on this-we would be happy to do that. As Mr. Lowery we are planning on doing an educational campaign also with the organizations. So thank-you very much for allowing to speak on this. SUPERVISOR HORTON: Would anybody else like to address the Town Board on this public hearing? We will close the hearing. Southold Town Clerk