Mall Land Vote Morphing into Political Fight

Oyster Bay Democrats see the town's proposed sale of it DPW complex as a sign of bigger fiscal problems ahead and are hoping it gains them donations and momentum for the November election.

In an email blast this week, the Oyster Bay Democratic Committee seized the opportunity with the potential downgrade of the town's bond rating and asked for a minimal donation. It began:

"The fiscal insanity in the Town of Oyster Bay continues!"

"The gross mismanagement and incompetence of Team Venditto has led to two bond downgrades in the last 18 months and (Standard and Poor's) is now threatening a third if the upcoming referendum on the sale of public property fails."

In fact, the bond rating service did make that threat, which is what those firms do to warn bond investors of looming problems with municipalities and others. The report noted the town's recent efforts to cut costs and raise revenue.

Newsday reported that S&P put the town on a "credit watch," warning it could run out of cash by November if the Aug. 20 referendum is not approved by the voters. A "Yes" vote would allow the sale of the property to go through.

Oyster Bay Deputy Supervisor Leonard Genova told Newsday that "any statement about a cash-flow problem on Nov. 1 is premature. There are ongoing negotiations on a variety of fronts that may more than make up for any shortfalls."

Democratic supervisor candidate John Capobianco said he has been warning of the "dire fiscal condition" for months, that the town's debt and property tax rates have been steadily rising. Another downgrade of the town's bonds would make the cost of borrowing prohibitive, he said.

Meanwhile, a wide range of Republican town officials have stressed they are not to blame for the worldwide economic downtown that has impacted the town in recent years. Supervisor John Venditto emphasizes the steps the town has made to cut costs, including recent employee buyouts. See their complete statement on the town's website here.

Some town officials have taken to Facebook to make their case and to urge voters to vote "Yes" and OK the land sale Aug. 20. The $32.5 million deal would bring money into the town's coffers, but not all at once.

Venditto's position is clear: He and the board don't want a mall built on the former Cerro Wire site owned by Taubman. Oyster Bay Realty, a firm backed by Taubman's competitor, Simon Properties, is willing to buy the town's land, adjacent to Taubman's on Robbins Lane, to keep that from happening.

The competitors have been at each other's throats in court for 18 years over this battle. The upcoming vote may not end the war.

Registration Open for 28th Bluefish Tournament  

Do you like to fishing for blues and then tailgating for hours? We have the event:

Registration is underway for the town's 28th annual Bluefish Tournament, scheduled for Sunday, Sept. 15.

The tournament runs from 4:30 a.m. to 4 p.m. The entrance fee is $30 for town residents and $40 for non-residents, and is open to all ages. Registration is limited to the first 350 boats.

Registration forms are available at all town park facilities and Oyster Bay Marine Supply on South Street in the hamlet of Oyster Bay. Cash prizes and plaques are awarded to the top winners.