BAY STREET THEATRE TO STAY IN SAG HARBOR

New Agreement Reached April 24, 2012 (Sag Harbor, NY) – We are happy to report that we have reached an agreement to renew our lease securing our immediate future in Sag Harbor, while we continue to pursue the goal of finding a permanent home on the East End. This announcement comes after reaching a new lease agreement between the theater and Long Wharf property owner Pat Malloy earlier this week.

The lease provides Bay Street the option to stay on the Long Wharf until May 2023, providing much needed venue stability for the organization.  The new agreement also includes the necessary term flexibility that allows Bay Street time to continue its due diligence in identifying potential opportunities to ultimately achieve the objective of owning a permanent home on the East End.

“The great news is, we now have a stable environment from which we can pursue our dream of having our own home.  It is a dream a long time coming," Artistic Director Murphy Davis commented.  "For an arts organization to expand and continue to thrive it is imperative," he added. "We are so grateful to the East End community for coming forward with new ideas, potential partners, and interested underwriters. It is in that spirit of collaboration that we can all make this dream into a reality. ”

Executive Director Tracy Mitchell expressed her gratitude to the community support the theater has received during deliberations. “We deeply thank Pat Malloy for his understanding and his good will," she said. "He has provided us with both the stability we have long sought, and the flexibility we need, should a new, permanent home be identified and developed.”

Mitchell and Davis both credit that the open discussion with the community beginning last Fall, that spurred the interest of developers and funding sources alike. “On behalf of the entire Village Board, I am so glad to learn that Bay Street will be staying here in Sag Harbor,” Sag Harbor Village Mayor Brian Gillbride concurred.

Pat Malloy, longtime landlord of the Long Wharf facilities, expressed his pleasure with the long term agreement. “I am very pleased that Bay Street Theatre has decided to stay in Sag Harbor, and happy to be able to help them again with a favorable lease," he said. " My hats off to the good directors and managers for making the decision to continue to provide great theater to Sag Harbor!

Truly a community effort, the agreement celebrates the theater's long standing relationship with Sag Harbor Village. “Bay Street Theatre has been a Sag Harbor Village arts and community haven for over 20 years,” Frank Filipo, chairman of the Board of Trustees, commented  “We have said time and again that our first choice has always been to remain in this wondrous place. Working together with Pat Malloy, who shares that vision, we have come up with a path to doing just that. The feedback that we have received from the local community, the realization of the value that Bay Street provides to the local shops, stores, and restaurants that define this Village was tremendously helpful in bringing about this new agreement. It is beyond gratifying.”

A not-for-profit regional theater presenting new, classic and contemporary works, with a commitment to challenging and entertaining our diverse community, we at Bay Street Theatre extend our commitment to innovative educational programs highlighting the power of live theater.

It is our mission to be an artistic haven for an extended family of artists and audience, while continuing to provide a gathering place to share in the unique collective theatrical experience.