The directors of and the landlord of their facility have inked a new deal that will keep the stage lights on for up to 10 years while .
Bay Street Artistic Director Murphy Davis said Tuesday afternoon that after nearly two decades of three-year leases, the theater came to terms with landlord Patrick Malloy for a long-term deal. The agreement includes an opt-out that allows Bay Street to move out without a penalty when a new theater is ready.
The new agreement allows the Bay Street directors the breathing room to do their due diligence as they explore options, Davis said. "It really gives us the ability, without being up against the gun, to really investigate all the different options with the venues we’re looking at.”
“Pat has generously agreed to working with us in a new lease so we have that time to do that,” Davis said, though he would not discuss specifics of the contract.
Four locations for a new home are being explored, Davis said, including the widely publicized option of Bay Street leaving Sag Harbor and . The Parrish is slated to move to a new facility in Water Mill this year, and Southampton Village officials have said Bay Street would be a welcome tenant to replace the museum on Jobs Lane.
Davis said the three other options are all located in Sag Harbor, but Bay Street is keeping a lid on the locations during negotiations.
Once a location is settled on, a capital fundraising campaign will begin to renovate a space or build from the ground up, Davis said. "We already have some anonymous folks that have stepped up to say they’ll be there when we start that.”