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Sagaponack – Financing the Hall

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In the tiny room in the tiny building on the corner of Montauk Highway and Sagg Main Street, the Sagaponack village board met for their monthly work session on Tuesday to talk about their new village hall, new speed limit signs and the adoption of a new local law pertaining to event tents.
Mayor Donald Louchheim, began the meeting in the space that is the temporary village hall until the village moves to its new home at 3175 Montauk Highway. The cost of the building, formerly a home, is $1.2 million. The village board has asked for a bond anticipation note (BAN) for $1.5 million.
“We have successfully floated a bond to fund the purchase of the new village hall, which we will close on this Monday,” Louchheim said on Tuesday. Village clerk Rhodi Winchell said that Commerce Capital Market Bank won the bid for the BAN with an interest rate of 2.19 percent, lower than Bridgehampton National Bank’s bid with an interest rate of over 2.5 percent. Earlier this year voters approved up to $2 million for the village hall, which covers the purchase price and additional renovations.
Architect Peter Wilson has submitted preliminary plans for a possible addition to the rear of the new building to extend the meeting room.
“We will get the estimates before we go any further,” Louchheim said on Tuesday.
The board is also expecting discussions of parking at the new location.
On Tuesday, the village board also held a public hearing and adopted a new local law, which requires permits for event tents for Sagaponack residents. Although the law, which requires that a permit be obtained from the village, was adopted, trustee Joy Sieger questioned if it was realistic that a tent be removed within 24 hours after an event. Trustee Lisa Duryea Thayer brought the $1,000 fee to the board’s attention and said maybe they should look at Southampton’s legislation to determine what options they will have to enforce the requirements of their temporary tent law.
Sagaponack also recently put up new speed limit signs in front of the Sagaponack School, reducing the speed in the area to 15 miles per hour. Earlier this year, the board voted to put up new signs 1,320 feet in front of the Sagaponack School to reduce the speed of traffic along the road. Sieger thought a possibility may be to put up flashing lights, or speed bumps to warn people of the change in speed for the area.
“It can be used to train people to go a slower speed,” she said.