The East Hampton Town Board recently approved selling three lots of airport property in Wainscott, a move that will raise about $4.75 million for the town-owned airport, officials said.
The board voted on Nov. 16 to sell about 8 acres of developed land on Industrial Road to two groups that had been leasing the properties at East Hampton Airport for at least 20 years, Councilwoman Kathee Burke-Gonzalez said Wednesday. The leases contained options for purchasing, and both groups exercised that option around the same time.
Wainscott Farms Inc., a landscaping design firm, is set to purchase a 2-acre plot at 3 Industrial Rd. for $1.4 million, according to town documents.
Commercial service areas that have been the sites of construction and plumbing companies will be purchased by shell companies named for the addresses, Burke-Gonzalez said. The 3.7-acre parcel at 39 Industrial Rd. will be sold for $1.84 million, and the 2.2-acre lot at 41 Industrial Rd. will be sold for $1.5 million, town documents show.
The shell companies are owned by the same group, Burke-Gonzalez said.
The lessees notified town officials about two years ago that they wanted to purchase the parcels, but “it’s taken that long” to get approval from the Federal Aviation Administration in a “laborious process,” Burke-Gonzalez said at the Nov. 16 meeting.
The sales, which are expected to close by the end of the year, are subject to permissive referendums if a petition signed by at least 10 percent of registered voters is filed. The airport sits on 600 acres, according to the town’s website. The parcels for sale are not contiguous with land where airport operations take place.
The money from the sales would go into the airport’s capital reserve fund. An airport management advisory committee is working with the town’s budget officer to determine how to use the fund, Burke-Gonzalez said. Potential projects include completing the main taxiway and a fuel farm.