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Riverhead Industrial Development Agency

Riverhead IDA won’t consider new 30-year tax abatement for Doctors Path apartments

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The owner of the subsidized apartment complex sought a new 30-year agreement setting its property taxes at $72,000 per year, about 45% of what current taxes would be.

Riverhead IDA’s law firm, representing companies suing Triple Five affiliate, says company is ‘sham vehicle’ used by principals to dodge liability

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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.

Riverhead Industrial Development Agency hires new law firm to assist with Calverton Aviation & Technology application for benefits

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The IDA board at a special meeting Dec. 21 appointed a new law firm to review the Triple Five affiliate's application for financial benefits, citing a “perception of a conflict of interest" of its existing counsel.

EPCAL buyer says it has ‘absolutely no plans’ for air freight ‘cargo terminal’ in Calverton, as Aguiar cautions public against ‘panic’

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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.

Riverhead IDA’s law firm represented Triple Five subsidiary in connection with American Dream mall

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Riverhead IDA’s legal counsel, charged with the due diligence review of Calverton Aviation and Technology’s application for IDA benefits, has represented a Triple Five subsidiary in connection with its American Dream mall in New Jersey.

Developer of proposed propane facility on Kroemer Ave withdraws IDA application after failure to capture enhanced benefits

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The developer of a proposed wholesale propane facility and industrial office building on Kroemer Avenue has withdrawn its Riverhead Industrial Development Agency application for financial assistance and will likely downsize its project, after the IDA previously declined to grant the developer’s requested 10-year, 100% enhanced real property tax abatement.

Air cargo logistics hub in Calverton planned by Triple Five affiliate to enhance package delivery services on Long Island

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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.

Riverhead supervisor denies town’s IDA grants property tax abatements: ‘As they build, they pay taxes,’ Aguiar tells civic group

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In response to a resident's question during a civic association meeting Saturday, Supervisor Yvette Aguiar told a downtown civic group that the Riverhead Industrial Development Agency does not grant property tax abatements. New developments are taxes as construction is completed, she said.

Calverton Aviation & Technology IDA benefits application for development at EPCAL site is released

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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.

Riverhead IDA postpones action on Kroemer Avenue propane facility, readies for review of expected Triple Five affiliate’s application

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The Riverhead IDA postponed action on a Kroemer Avenue propane facility after Fisher Organization manager Ray Dickhoff asked the IDA to reconsider its decision to grant a 50% property tax abatement rather than the 100% abatement the applicant sought.
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