Luminati Aerospace

The proposed contract of sale was filed in the town clerk's office for public review yesterday. Here's a rundown of its terms and a copy of the document filed in the clerk's office.

It was an acrimonious end to eight years of sometimes contentious town board meetings presided over by a town supervisor who often found himself at odds with constituents, civic activists and fellow board members.

Civic activists are planning to converge on town hall to protest a town board resolution setting a hearing date on the proposed sale of more than 1,640 acres of land inside the Calverton Enterprise Park.

Nearly four months after announcing he was "highly interested" in the Luminati deal at EPCAL, NYC billionaire John Catsimatidis says he's still negotiating with the Calverton aerospace startup. Town officials now say Luminati Aerospace will have until at least month's end to come to terms with the town on a purchase agreement, following a letter of intent signed by both sides in early April.

Contract terms are still being hammered out, Riverhead Town Supervisor Sean Walter said Thursday.

The billionaire businessman's representative was critical of the town's slow pace and negotiating posture.

Supervisor Sean Walter took his EPCAL show on the road today, speaking to a business organization's breakfast meeting in Ronkonkoma this morning.

Council members Tim Hubbard, Jodi Giglio and John Dunleavy say the town should cancel the letter of intent Riverhead Town signed with Luminati Aerospace in April.

Daniel Preston, who founded Luminati Aerospace in 2015 and is looking to buy the Town of Riverhead's land in the Calverton Enterprise Park, was fired by the previous aerospace company he founded in 2001 after he sold a controlling interest in the company to investors.

At a press conference this morning at the Calverton Enterprise Park, Laura Jens-Smith accused Sean Walter of keeping information about the Luminati deal from the public and even from his fellow town board members.