Riverhead Industrial Development Agency

Wayne Steck, a principal in the company that developed Summerwind Square, is seeking IDA benefits for a second proposed mixed-use apartment building in downtown Riverhead.

Despite signing on as a joint applicant for financial assistance from the Riverhead Industrial Development Agency, Town Board members say they didn't see Calverton Aviation & Technology's plans for the site until they were presented to the IDA in September.

“This informal forum is intended to provide an opportunity for the CAT team to update Riverhead residents on their vision for the proposed project at EPCAL while the agency continues its due diligence" on the company's application for financial assistance, the Riverhead Industrial Development Agency said in a press release announcing the forum.

Featured letter: CAT has no approved site plan, no zoning approvals, no required permits and its plan has not undergone the review mandated by the State Environmental Quality Review Act. It should not even be considered for taxpayer-funded support.

Editorial: A lot of big projects are heading to the Riverhead Industrial Development Agency for "benefits," collectively millions of dollars in tax exemptions. It's important for residents to understand what the IDA does and why. The agency, which lacks transparency, must do a much better job to provide public information to the public, or it does not deserve the public's support.

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.

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.

The public on Monday got a glimpse of what’s been taking place behind the scenes as the Riverhead Industrial Development Agency begins vetting the joint application for financial assistance made by Calverton Aviation Technology and the Riverhead Community Development Agency.

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.

The developers of a proposed 165-unit apartment building on East Main Street presented their plans to the Riverhead Industrial Development Agency Monday evening.