Long Beach Island Towns Could Split Cost Of Buying The Surflight

Dated: 03/05/2016

Views: 2089

Beach Haven Mayor Nancy Taggart is interested in a proposal by a local group that calls for Long Beach Island towns to share the cost of purchasing the Surflight, according to The Sandpaper.

Taggart has discussed the proposal with Long Beach Township Mayor Joseph Mancini. The group wants to lease the Surflight and run it as a community theater. But the proposal depends upon LBI’s municipalities agreements to purchase the theater.

Surflight closed its doors last February and filed for bankruptcy, with $4 million in debt. TD Bank eventually bought the Surflight complex for a $100 bid back at an auction in December..

The bank is willing to sell Surflight for $2.1 million, Taggart Davis said at a Feb. 17 Borough Council meeting. Taggart thinks the price could be negotiated down, because the bank is paying taxes on the property which includes the theater, a cast house, a residential home, the Show Place Ice Cream Parlour, scenary shop, offices and living quarters.

The proposal calls for Surflight to become an “Island theater,” where Beach Haven would pay half and the other island towns would split the cost of the other 50 percent.

“In a way, this is kind of better for Beach Haven, because Beach Haven would really have control over Surflight,” Taggart Davis said.

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