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Day Camp Applicant Says No To Potential CPF Acquisition

Publication: The Southampton Press
By Rohma Abbas   Nov 15, 2011 9:47 AM
Nov 15, 2011 2:18 PM
Jay Jacobs, the developer behind a plan to create a summer day camp on Majors Path in North Sea, said this week that he has no interest in selling his land to Southampton Town for preservation purposes, despite requests from neighboring residents for the town to buy the parcel.

Southampton Town Community Preservation Fund Manager Mary Wilson said her department sent Mr. Jacobs an outreach letter in mid-October to see if he was willing to sell the land, but that the town had not heard back from him. The 17-acre parcel of land was added to the Community Preservation Fund Project Plan in 2001, Ms. Wilson said, long before Mr. Jacobs purchased the land in 2010.

Residents who live near Mr. Jacobs’s 17-acre property have opposed his application to create a large... more

What a loser
By ride the truth wave (124), southampton on Nov 15, 11 2:16 PM
why? bc he doesnt want to sell his land at a discount.
By tm (139), mtk on Nov 15, 11 3:30 PM
Approve the day camp-that lawsuit is going to cost a lot more money.
By EastEnd68 (811), Westhampton on Nov 15, 11 4:44 PM
Art, for art's sake.

Just take the money an run. This place has been "used" enough.
By Mr. Z (4512), North Sea on Nov 15, 11 4:58 PM
Jay, Jay, Jay, there you go again, making up stories. And you wonder why the community calls you a liar? First you told the Press you had an approved subdivision for 14 houses. Nope, not true. Then you said you can build 17-30 houses. Nope. Not according to the Health Dept. Now it's 37 condos? Isn't that the reason you bought the property so cheap? It can't be done.
By East End 2 (54), Southampton on Nov 15, 11 8:23 PM
And Jay, while we're on the topic. CPF isn't interested in making you "whole". Our tax money pays fair market value for property we buy. Tell your investors they have a big tax deduction coming their way when you bail out of this very poorly thought out deal you put together.
By East End 2 (54), Southampton on Nov 15, 11 8:27 PM
closing costs, legal fees and engineering expenses have no bearing on a property's value.. I've been looking at the Constitution for 38 years and still haven't found where it says that everyone has to make a profit in real estate. . Jacobs has himself a large problem. Paid too much, spent too much and without his approval probably can't sell without taking a huge hit. Who's gonna buy it A speculator for subdivision ? Not with that organized opposition. And who's lending money now for development ...more
By lazymedic (65), southampton on Nov 15, 11 8:39 PM
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