Riverhead's East Main Street still has several large vacant spaces. Photo: Denise Civiletti

Interested in learning about how to take advantage of the federal Opportunity Zones Program in the Town of Riverhead? An informational forum on the program will be held on Friday, Dec. 13 in the Long Island Aquarium’s Sea Star Ballroom, beginning at 11:30 a.m.

Opportunity Zones are federal income tax incentives designed to spur economic development by allowing taxpayers to defer capital gains by reinvesting those gains into communities that have been specially designated as “qualified opportunity zones.” Riverhead has two zones: downtown Riverhead and the Enterprise Park at Calverton and its surrounding area. 

A panel of experts will discuss the Opportunity Zone Program and other incentives and provide updated information on the latest regulations, which were recently revamped to facilitate investment. Panelists will also discuss potential for layering Opportunity Zone investments with other incentives. 

The panelists include: Michael Maturo, president and CFO of RXR Realty; Phillip Mara, national audit leader and U.S. funds leader at KPMG LLP; and Demetrios Yatrakis, tax principal at KPMG LLP.

The forum is organized by the Town of Riverhead Industrial Development Agency, Community Development Agency and the Riverhead Chamber of Commerce.  

Tickets to the event are $20 per person. A light lunch will be provided. 

RSVP online or call (631)727-7600

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Julia-Anna Searson
Julia-Anna is a Riverhead native and a recent graduate of Stony Brook University, with a degree in Biology and minor in Anthropology. She currently lives in Cutchogue.