Fire District: Don't Pass Up Opportunity To Buy Pacific East Property

To buy the former Pacific East property next to the , district commissioners said at a meeting on Tuesday night that taxpayers, on average, will have to spend about $100 a year.

One week before an Oct. 4 referendum, the Board of Fire Commissioners explained that the district's needs warrant the cost. The property, they said, is , particularly with an aging community, training, and parking.

The district is considering instituting some type of paid EMS system in the future, but would need more space either way for a third ambulance. As is, training is mostly done in Tom Field's basement. "We desperately need that property," said commissioner Jack Emptage, who spearheaded the plan.

The additional cost of fire district taxes would be $97.90 on properties with a market value of about $1.5 million and an assessed value of about $11,100, the commissioners said.

If approved, the district would seek a 15-year fixed rate public bond to ensure the best interest rate, Emptage said. The calculations are based on a 4.25 percent interest rate on the loan, which Emptage said is thought to be higher than what the district will actually receive given plummeting rates.

The commissioners said they don't have any plans drawn up for the property, but would use it for basic training and parking in the meantime. Daniel Shields, chairman of the board, said he considers the land the base. "With that opportunity, I don't think we should pass it up," he said.

However, resident Mike Matus said "the elephant in the room" was how much a building to meet the needs of the department would cost down the line. He said it could "overshadow the $2.8 million."

Another referendum would have to be held before the district could build on the site, the commissioners said.

"I trust the fire department knows more than we do what it needs for the future," said Elaine Jones, who said the ambulance volunteers once saved her life.

Amanda Merrow, a co-founder of the Amagansett Food Institute which has wanted to purchase the property, was among a few who have asked, "Why the rush?"

Emptage said the district only had only 85 days to float the bond. "We're not paying the price he wanted," Emptage said of the owner.

When the property was initially listed in 2007, the asking price was $8.5 million. But by 2011, it dropped to $4 million.

The district was given less than three months to make the deal work, just enough time, Emptage said, to properly notice the vote, hold the meeting, and allow for the legal requirements after the vote. Commissioners have until Nov. 22 to close on the signed contract.

Lee Minetree, the Saunders Real Estate agent who brokered the deal, explained that the current owner bought the two acre parcel in the spring at an auction after the previous owner foreclosed.

Htun Han, an Amagansett real estate broker and longtime volunteer with the ambulance company, spoke of the property's value, citing recent sales nearby. A half-acre of vacant land across the street sold for $850,000. He also mentioned the .

"Are we getting a deal or not for $2.8 million on two acres?," he said.

Matus also asked about the number of Medevac landings on the property behind the firehouse, which commissioners have said is not an option for expansion because it is needed for the emergency helicopter landings.

While no one was sure exactly how many landings there are each year, Fire Department Chief Mark Bennett estimated there were 10 in the past year and said it serves not only Amagansett, but other districts as well, to remain an open field.