LISEC was founded in 1995 when a group of citizens banded together to bring community attention to the last available property on Port Jefferson's harbor suitable for community use.  This desirable site, steeped in ship building history and sporting majestic views and deep-water access, was slated to be sold for commercial development, perhaps for a parking garage.  Though a prime waterfront location, the property had become a polluted brown-field site following 100 years of ship building, and another fifty years of use as a Mobil Oil Tank Farm.  Nonetheless, LISEC's efforts were successful and the Incorporated Village of Port Jefferson purchased the 5.1 acre property in 1997. 

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For the next ten years, LISEC members worked on every committee that was formed to create a master plan for a new community park.  Dedicated to keeping the ship building history of this park alive, LISEC also sponsored Tall Ship Sails during these development years, and initiated small wooden boat restoration and building projects inside the drafty and rusted-out Machine Shop and Mould Loft building, which was once part of the historic Bayles Shipyard.