Business
Triple Five threatens to sue Riverhead Town over EPCAL contract
'CAT Triple Five has the legal right to develop this property,' a company spokesperson said, calling it 'tragic' that the town has 'diverted' the future of Calverton 'to the court house for what will likely be years to come.'
Business
It’s official: Riverhead Town cancels contract to sell EPCAL land to Triple Five affiliate, CAT
The Riverhead Town Board wasted no time acting to cancel the town's contract with Calverton Aviation & Technology following the Riverhead Industrial Development Agency's decision Monday night to deny CAT's application for financial assistance to develop the Calverton Enterprise Park
Business
Riverhead IDA denies CAT’s application for financial assistance to develop Calverton site
The Riverhead IDA Monday night denied Calverton Aviation & Technology’s application for financial assistance to develop the Calverton Enterprise Park site.
News
IDA action on Triple Five request for tax breaks without firm development plan is ‘improper,’ ‘inappropriate’ & ‘irresponsible,’ senators say
CAT has backed away from its air cargo proposal for EPCAL and now says its development plan is in flux. The IDA's review of CAT's application for tax breaks in the absence of a firm plan is improper, the chairperson of the State Senate's government watchdog committee said. First District Sen. Anthony Palumbo, a member of that committee, agreed.
Business
Triple Five megamall suffered $245 million in operating losses in 2022, filing shows
The New Jersey megamall owned by Triple Five, which is in contract through another affiliate company to purchase more than 1,600 acres of industrial land in Calverton from Riverhead Town, had $245 million in operating losses last year, security filings released this week shows.
Government
New objections, questions from town supervisor and community raised about town’s chosen ‘path forward’ on $40 million Calverton land deal
Supervisor Yvette Aguiar raised concerns last week about when the town would receive the balance of its $40 million for land at the Calverton Enterprise Park, if the Riverhead Industrial Development Agency moves the town's deal with Calverton Aviation and Technology forward.
Business
Riverhead IDA board members question Calverton Aviation & Technology about its finances
Riverhead Industrial Development Agency board members on Wednesday questioned representatives of the Triple Five affiliate in contract to buy more than 1,600 acres at Calverton Enterprise Park from Riverhead Town about the company’s finances, bringing what has primarily been a closed-door vetting process out into the public eye.
Business
Riverhead IDA announces Aug. 23 public information session to discuss finances with EPCAL buyer
Calverton Aviation & Technology will attend another public information session with the Riverhead Industrial Development Agency to discuss plans for the EPCAL site, the Riverhead IDA announced in a press release issued last night.
Business
EPCAL buyers work to distance themselves from air cargo hub plan, but residents remain skeptical
“I personally apologize for the confusion that was created when it [an air cargo hub] was referenced by a professional consultant as a hypothetical concept of full buildout,” Calverton Aviation & Technology CEO Justin Ghermezian told the Riverhead IDA board at the Aug. 8, 2023 public information meeting. Residents stepped to the podium to say they didn't believe the applicant's re-characterization of the plans presented last September.
Letters
Riverhead must say ‘no’ to an air cargo hub at EPCAL
Officials can require the developer to file covenants ensuring that this property will never be used for air cargo. Let's protect our environment and use our industrial land and public dollars to support employers that will benefit local workers. Long Island can have good jobs and clean air.