The Town Board put the Riverhead IDA in an impossible situation. The IDA should 'just say no' to tax breaks for CAT's massive project. That will put the ball back where it belongs: in the hands of the Town Board, which should walk away from this deal as fast as it can.
Audit reveals Riverhead IDA anticipates October closing with Calverton Aviation & Technology, for major boost to agency’s sagging bottom line
The six-figure influx of revenue in fees due from CAT would come as the cash-strapped agency finds itself facing “substantial doubt” about its “ability to continue as a going concern,” according to its audited financial statements.
Triple Five affiliate hoped to have its application for IDA benefits approved by now, but it’s not clear the agency’s vetting...
Calverton Aviation & Technology's attorney said in September his client hoped to gain approval from the IDA by the end of 2022 or early in 2023. Five months later, it's not clear whether the IDA's vetting process has even begun.
Luminati Aerospace owner Daniel Preston, 52, died at his home in Little Falls, New York on Thursday, Jan. 12. Luminati is part owner of a join venture with Triple Five called Calverton Aviation & Technology, which is in a $40 million land deal with the Town of Riverhead.
Riverhead IDA’s law firm, representing companies suing Triple Five affiliate, says company is ‘sham vehicle’ used by principals to dodge liability
Riverhead IDA's own legal counsel in federal court filings accuses Triple Five principals, including two men involved in the Calverton land deal, of using a shell company with no assets and no records to dodge personal liability.
The Planning Board is right. Riverhead must hit the brake on development while comp plan is updated.
The proliferation of massive warehousing and logistics buildings proposed in Calverton alone can forever change our town's landscape. With development, there are no do-overs.
Plans for 14 drag racing events at the Calverton Enterprise Park next year gained special event approvals from the Riverhead Town Board Tuesday night.
EPCAL buyer says it has ‘absolutely no plans’ for air freight ‘cargo terminal’ in Calverton, as Aguiar cautions public against ‘panic’
Calverton Aviation & Technology is walking back its presentation to the Riverhead Industrial Development Agency last month, maintaining that the plans unveiled at the IDA meeting did not depict an air cargo logistics hub at the Calverton Enterprise Park.
The joint IDA benefits application of Calverton Aviation & Technology and the Riverhead Community Development Agency for the development of the Calverton Enterprise Park has been made public by the Riverhead Industrial Development Agency.
Purchaser in Calverton land deal ‘ready to go’ with application for Riverhead IDA benefits, lawyer says
The clock is ticking as an important deadline looms in the $40 million land deal with a Triple Five affiliate at the Calverton Enterprise Park. The company must have a complete application for benefits filed and accepted by the Riverhead Industrial Development Agency by Sept. 24.