Calverton Enterprise Park

The Calverton Enterprise Park will fill the need for a regional air cargo logistics hub on Long Island, representatives of Calverton Agency & Technology told the Riverhead IDA in a presentation last night.

Drag racing promoter Peter Scalzo has been living in a motor home on a Calverton runway without permission for more than a week as he sets up the track for the drag racing series set to being Aug. 20. The town hasn't yet signed a runway use agreement with Scalzo for the Race Track-Not Street Summer Series.

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.

The fate of a proposal to site a food waste-to-energy facility at the Calverton Enterprise Park — and whether or not the Town of Riverhead will allow such facilities anywhere within its borders — remains uncertain.

Triple Five, the company in a $40 million land deal with the Town of Riverhead, is at risk of default on its $800 million bonds for its American Dream mega mall in New Jersey, according to a public securities filing made Friday by the bond issuer’s trustee. The company reported losing $59.4 million last year in a separate filing last month.

A developer looking to build a waste-to-energy facility at the Calverton Enterprise Park is asking the Riverhead Zoning Board of Appeals to overrule the town building department's determination that the zoning code prohibits the use. The facility, proposed by Melville-based CEA Energy, would process organic wastes and generate renewable natural gas and compostable soil amenders, according to documents filed with the ZBA.

The “Race Track, Not Street” drag-racing events scheduled for this weekend have been canceled due to confusion —or some sort of misunderstanding — over ownership of a taxiway at the Calverton Enterprise Park. The remaining events in the “Race Track, Not Street” series will go on as planned, except they will be located on the 7,000-foot runway, where they were held last year.

The Riverhead Town Board today approved transfer of the town’s land holdings inside the Calverton Enterprise Park to the Riverhead Industrial Development Agency, pursuant to an agreement reached between the town and its contract vendee, Triple Five affiliate Calverton Aviation and Technology.

Riverhead Town will move ahead with a new agreement that aims to finalize its $40 million land deal with Triple Five Group, if a resolution on the town board’s agenda wins approval next week. Here are the highlights of the plan.

Triple Five has agreed to move forward with the town’s proposal to involve the Riverhead Industrial Development Agency in the $40 million EPCAL land deal, Supervisor Yvette Aguiar announced this afternoon.