By Dan Rattiner

The Hampton Subway Club, which as you know purchased the Hampton Subway and shut it down, is now in negotiations with the State of New York to determine the future of this facility.

However, until something definite is forthcoming, the Hampton Subway Club will continue with its plan to convert this broken down old subway system into an exclusive underground club for those fortunate few who can afford the very best.

On the other hand, the owners of the Hampton Subway Club fully understand the importance of this facility to the Hamptons, and we are certainly open to canceling our plans provided that correct compensation is provided to us. Much renovation has been done, including the plans provided by Robert Trent Jones Jr. for the conversion of the D Line through North Haven and Noyac into the best nine-hole underground golf course in the world.

In any case, the current financial plan by Albany lawmakers to rescue this treasured facility is well below what would be required for us to consider making a deal.

In addition to the $800,000 we paid the previous owner for this woefully behind the times 60-mile subway system, we anticipate that the necessary repairs to the system to make it useable again, either as a club or as a transportation system, would cost us $1 billion. So it is understandable that our minimum requirement, and we do consider our love for this treasured facility, to be no less than $1.2 billion.

I suppose it is just too bad that the current negotiations with the State have to go on in the public arena, but I would say that from what we have heard so far, the current bill in Albany, put forward by several assemblymen and senators there, would call for the dedicating of the next ten years worth of the real estate transfer tax money collected on eastern Long Island to this purchase - and this amount of money raised is woefully inadequate. The total they project would be just $500 million, and that would take place only if the transfer tax money were to continue on at the pace it has before, which seems unlikely since we are now entering a recession. So, Albany, no, no and no again. You'll just have to do better.

And so our plans proceed. And unfortunately, considering the inevitability of trouble once we had a look at the books of the subway system - the conviction and scheduled execution of the former Subway Commissioner, Bill Aspinall, is getting closer and closer. The man simply must pay for his crimes. At the present time, he is expected to die in the electric chair on May 14, 2008. We offer condolences to his family.

Back to Contents