The East Hampton Town Board is moving forward with a significant proposal to amend the Gross Floor Area (GFA) formula, reducing it from the current allowance of 10% plus 1,600 square feet to 7% plus 1,300 square feet. For a half-acre property, this new formula represents a 25% reduction in allowable GFA. This change is set to go into effect and will result in reduced valuations of all properties and significant decreases in the construction and real estate business across our community.
The current Town code is, in my opinion, has succeeded over the years in maintaining the character of East Hampton. The current code is more restrictive than neighboring townships - which is a good thing!
The consequences of this decision will not stop at property values. Rental incomes will decrease on homes built after the new law goes into effect. Generational wealth will be affected....the list goes on and on. Essentially it will create a trickle-down effect on many aspects of our local economy. Builders, architects, tradespeople, realtors, and numerous other industries tied to property development and real estate stand to be negatively affected. Such a sweeping change threatens to harm local businesses and the overall economic health of East Hampton.
It is also important to note that a dedicated work group of surveyors, builders, architects, and land planners has spent months crafting a thoughtful alternative proposal of 8% plus 1,600 square feet. This work group believes that this represents a fair and reasonable middle ground.
The meeting is taking place at Town Hall on December 17th at 11 am. I plan on going and speaking not only as a realtor, but as a lifelong East Hampton resident and a daughter, sister and a mother of East Hampton residents who all own property and who have worked hard for generations to own these properties.
It is very important that the Town Board members hear from East Hampton residents.
Here are their contact details if you wish to express your concerns:
- Kathee Burke-Gonzalez, Supervisor: [email protected]
- Cate Rogers, Deputy Supervisor: [email protected]
- David Lys, Councilmember: [email protected]
- Ian Calder-Piedmonte, Councilmember: [email protected]
- Tom Flight, Councilmember: [email protected]
