With little buildable property on Shelter Island left, George Soros and his family have managed to acquire 18 parcels on 120 acres of land and begin developing several parcels with few noticing.
He didn’t skirt applications necessary to plans for development. But parcels were purchased by different LLCs and not clearly linked to Mr. Soros.
The information was provided by real estate professional Susan Cincotta.
Shelter Island Town’s requirement is that even when an LLC is involved to try to avoid naming principals, a record must be available to Town officials bearing a name and contact information in the event of any problem on any of the parcels.
Information was provided to the Town — but each acquisition bore a different name and telephone number so they weren’t linked.
Believed to be the first of the Soros’ acquisition was the former Paard Hill Farm on Ram Island Road purchased by Peter Ruig and his wife Ellen Lear, daughter of producer Norman Lear. The couple purchased the 36-acre site in 2000 but had to battle the community to develop a 36-acre equestian farm.
The Soros interests sought a fencing permit from the Town, but ultimately bypassed it, gaining permission for the fencing from the New York State Department of Environmental Conservation.
Permits affecting other acquisitions didn’t bypass Town requirements, but with changes being made, none were linked directly to a member of the Soros family that would have raised concerns about so much land being purchased by a single individual.
When Shelter Island Town won a bid to purchase a house on School Street at auction several months ago, one reason Town officials cited was a need for more properties for affordable housing and other purposes. It has yet to identify other lots for its needs.
Staff from The Suffolk Times sister publication, Shelter Island Reporter, reached out to several local realtors and Shelter Island Town officials who have not yet responded. This is a developing story.
The post How did Soros acquire 120 acres of Shelter Island? appeared first on The Suffolk Times.
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