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  The illegal plan to lease the Historic Main School Building...
The Kenny Lawsuit...
The Village fails to put the Historic Main Building...
The foolish plan to “market”...
Why Are Trustees Pushing for Commercial Development?

Background Facts

Why Are the Trustees Pushing for Commercial Development?

The Trustees and the Mayor have claimed in recent statements and articles that private condominium is the option of last resort to save St. Paul’s from the wrecker’s ball. They also claim that the residents will never approve an option that calls for the expenditure of any taxpayer money.

We don’t agree. The Village survey of a few years ago clearly shows that residents would consider spending some tax money to keep St. Paul’s under public control. They simply have not seen a positive plan. Moreover, those on the current Board have never devoted any time or effort to finding a solution that could involve a combination of public and private use.

Why is that? Well, a review of the backgrounds of some members of the current Board reveals some interesting facts:

Signature Bank, a New York-based commercial bank, has named Robert J. Rothschild to the newly created position of Senior Vice President, Commercial Real Estate Lending.

In this capacity, he will oversee commercial real estate lending activities for the Bank. Rothschild is a seasoned veteran within the commercial real estate lending arena. During his 30-year banking career, he has focused on serving the financial needs of commercial real estate developers, owners and management companies.

Most recently, Rothschild was Vice President-Group Head, Long Island Regional Real Estate Lending for the Bank of New York, based out of its Garden City location. In this position, Rothschild had been responsible for overseeing all the bank's real estate lending efforts across Nassau and Suffolk counties, a role he held for 13 years.

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Nicholas Episcopia is currently Director of Acquisitions and Dispositions, WRA Properties, Inc.; a member of the NY Mortgage Bankers Association; and has been a guest speaker at the New York Bar Association Conference on Cooperatives and Condominiums.

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Trustee John Mauk is employed as counsel for CB Richard Ellis, which is the exclusive broker acting for Nassau County on several properties, including the portion at 101 County Seat Drive. That property, the site of the Social Services building, recently sold for $56 million.

In June, Trustee Mauk voted in favor of rezoning, a move which many considered to enhance the property’s value. A resident pointed out at a recent Board meeting that Mr. Mauk may have had a conflict of interest when he voted to rezone Nassau County property.

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Peter Bee is a partner in the law firm of Bee Ready Fishbein Hatter & Donovan, LLP located in Mineola. He concentrates in management labor/employment law. As part of the Real Estate practice group, the firm represents a substantial number of banks and lending institutions....The Real Estate unit handles ... commercial real estate acquisitions and sales ...includ[ing]... negotiation of commercial leases.

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At the very least, there appears to be a predisposition among some on the Board of Trustees to think that private commercial development is the solution to the St. Paul’s puzzle. Their backgrounds might give residents cause to question whether they can make an unbiased and objective decision about real estate issues affecting our Village.

The illegal plan to lease the Historic Main School Building...
The Kenny Lawsuit...
The Village fails to put the Historic Main Building...
The foolish plan to “market”...
Why Are The Trustees Pushing for Commercial Development?

 

Committee to Save St. Paul's / P.O. Box 7642 / Garden City, New York 11530-0731
©2006 Committee to Save St. Paul's