Louis Bacon helps local residents preserve New Suffolk Waterfront

 Louis Bacon has offered funds to a residents group hoping to save their waterfront community from falling into disrepair and neglect.

The $1.1 million offered to the New Suffolk Waterfront Fund has helped them purchase the property from the Peconic Land Trust and pay off its $1.5 million mortgage with further monies from a state grant.

The Southold Town Planning Board is due to vote in a few weeks as to whether to approval should be granted to the proposed preservation of the New Suffolk waterfront.

The planning board will decide whether to allow the New Suffolk Waterfront Fund, established in 2005, to split off an acre of its property and deed it over to the company that owns Robins Island.

The Waterfront Fund will then retain nearly two and half acres of land to renovate and preserve for future generations. This land includes the former Galley Ho restaurant, a historic barn, a community garden and a portion of southern beach.

By raising income from sale of the site to Louis Bacon, it is hoped the waterfront fund can also raise enough money to establish a community centre/snack bar, transient dockage and a small marina in the area.