Government
Developer of five-story apartment building at Osborn & Court seeks IDA tax breaks, hearing set for Monday
The developer proposing a five-story mixed-use building on the corner of Osborn Avenue and Court Street is asking the Riverhead Industrial Development Agency for a 10-year real property tax abatement, as well as mortgage tax and sales/use tax exemptions in connection with its $19.6 million project.
Business
Riverhead IDA approves financial assistance for Island Water Park
Island Water Park, a proposed "extreme water sports park" on a 46-acre site in Calverton adjacent to Riverhead’s Veterans Memorial Park, gained approval from the Riverhead Industrial Development Agency yesterday of its application for financial assistance, including a 10-year property tax abatement, and mortgage recording and sales tax exemptions.
News
Market-rate apartment developer makes pitch for IDA benefits
The developer cited positive economic impacts of the proposed market-rate rental apartment building, including increased tax revenues, foot traffic and increased downtown commerce.
Business
Riverhead development projects and Riverhead IDA earn regional awards
Two recent development projects in Riverhead Town, along with the Riverhead Industrial Development Agency were honored last week by the Long Island Business News at the media company's Real Estate, Architecture and Engineering Awards.
News
IDA grants nearly $4 million in financial assistance to Calverton manufacturer
After Island Exterior Fabricators declined a financial assistance package approved by the Riverhead Industrial Development Agency earlier this month, the board convened a special meeting Friday afternoon to increase its the property tax abatement offered by more than $1 million over 15 years.
Government
Riverhead seeks to fill vacancy on IDA after resignation of most recent appointee
The town needs to fill a vacancy left by the resignation of board member Larry Simms, who resigned this month after just four months in the position.
Government
After he moves out of state, newest IDA board member’s eligibility to serve is called into question
Larry Simms, an outspoken critic of the Riverhead IDA whose appointment in February touched off controversy, has sold his house in South Jamesport and moved to Pittsburgh, Pennsylvania. Legal counsel to the IDA said the board member's move out of state created an immediate vacancy on the IDA board.
News
New IDA board member: Agency should focus on reuse of vacant buildings
The Riverhead Industrial Development Agency’s newest member has proposed forming a task force with Riverhead Town officials to concentrate on redevelopment of vacant buildings in the town.
News
IDA critic takes his seat at the table, votes against first two applications before him
In short order, new IDA member Larry Simms cast two “no” votes on resolutions approving applications pending before the agency: an new application for IDA benefits from Twin Fork Beer Company and an application for a modification of a prior approval granted to a doctor’s office on Roanoke Avenue.
Government
Outspoken IDA critic appointed to its governing board
Councilman Tim Hubbard broke ranks with his party today, joining with the board's two Democrats to support the appointment of Larry Simms, an outspoken critic of the Riverhead Industrial Development Agency to that body’s governing board.