One of the key concepts and phrases we remember from the movie about Watergate was the advice from “Deep Throat” to Bob Woodward: “Follow the money.” That advice was important then and is still important today.
I viewed Saturday’s forum on the plans for the proposed new Bay Street Theater and the question-and-answer portion via YouTube. There was lots of talk about love of Sag Harbor, community responsibility, honesty and transparency. However, when questioned about the money and individuals behind the project — and this is a many-million-dollar project — the panel was less than forthcoming.
There was talk about either the need or wish of donors to remain anonymous, at the same time acknowledging that donors’ names would have to be disclosed on IRS Form 990. There was confusion regarding the private real estate limited liability corporation that is purchasing … I am not sure what exactly, and Friends of Bay Street, a nonprofit, which hopes to purchase the 7-Eleven property for the theater, and 2 Main Street (Fort Apache). Fort Apache would then be turned into a park and donated to the village.
I think Adam Potter said that the funders, and we don’t know who they are, wouldn’t really mind if they lost their money, as they were doing such a nice thing for the village that we all love.
Is that believable?
There was a lot of talk about trust at the forum. Trust is important, and there is a need on the part of Bay Street Theater and Mr. Potter to build or rebuild that trust with many members of our community.
My advice would be for Mr. Potter and the theater administration to be totally open and above board about who is financing the project and who controls the entities involved. If the theater board and Mr. Potter continue to obfuscate regarding the funding and control of this real estate project, there will only be more distrust and more division. The project will continue to be controversial, battle lines will be established, and the theater, Mr. Potter and the village will suffer.
Christopher Leonard
Sag Harbor
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