Syosset - (WALK) Voters in Oyster Bay have an opportunity to determine the future of a 54-acre parcel in Syosset, and wield influence over the economic future of the region, when they participate in a referendum about the "Cerro Wire" property Tuesday.
The referendum is simple: "Shall the resolution of the Town Board of the Town of Oyster Bay to sell 53.783 acres of certain surplus real property for the sum of $32,500,000.00 be approved?" The answer could be the beginning-of-the-end to an 18-year dispute over the property near the Long Island Expressway. Or not.
Voters will approve or reject the sale of what is now a public works site. approving the sale to a consortium of developers would reportedly block plans by developer Taubman Centers, Inc. to construct a large shopping mall on adjacent property, known as the old Cerro Wire factory parcel.
Some community groups are concerned about increased traffic and demands on local resources if a major mall is constructed. Regional planners also express concern about the ability of Long Island shoppers to support another mall, and about competition with existing businesses throughout the region.
Town officials support selling the public works parcel to developers led by Taubman-competitor Simon Property Group, who own the Walt Whitman and Roosevelt Field malls.
Taubman is reportedly campaigning for a "no" vote, reportedly in an attempt to purchase the property and add it to the Cerro site for future development. The Town of Oyster Bay advises residents to vote "yes," to realize a $32m sale now, and to increase chances of a mixed-use development in the future.
Analysts say if the referendum is approved Taubman Centers would continue attempts to block the sale in court, and to advance its case for a mall. If the referendum is defeated, the town would resume efforts to sell the site.
Seal: Town of Oyster Bay