Riverhead Industrial Development Agency

The total value of the abatement over 30 years will be $2,352,750, according to IDA counsel Richard Ehlers.

The developer of the Residence Inn got a sales tax exemption increase and the developer of a proposed medical office on Ostrander Avenue just north of Route 58 got a package of benefits including a five-year property tax abatement.

Eventually you have to ask yourself who is going to pay the taxes in this town? And that finger seems to point directly to the already-overburdened homeowners and small businesses of Riverhead.

Several residents spoke out at yesterday's IDA meeting against applications for tax breaks by the developers of three projects in Riverhead: a hotel on Route 58, a medical office on Ostrander Avenue and a mixed-use workforce housing development on East Main Street.

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Atlantis Holdings and J. Petrocelli Development Associates got the financial assistance they requested from the Riverhead Industrial Development Agency tonight at a special meeting...

Long Island Aquarium owner Joseph Petrocelli announced plans today to transform a 113-year-old Main Street building into what he believes will be “the number one restaurant on Long Island.”

The developer of innovative office suites at 30 W. Main Street has been granted a benefit package by the Riverhead Industrial Development Agency to provide incentives for proposed renovations to the building next door at 20 W. Main.

A national music store interested in a downtown "pop-up" store in Riverhead, the developer of 30 West Main told the Riverhead Industrial Development Agency Monday. She is buying the Allied Optical building next door and plans a top-to-bottom renovation.

Hotel developer Lee Browning yesterday won IDA approval of tax abatements and exemptions worth more than $1.6 million over 10 years, including an estimated $579,162 in real property tax abatements. IDA member Dawn Thomas cast the lone 'no' vote.