Triple Five

'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.'

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

The Riverhead IDA Monday night denied Calverton Aviation & Technology’s application for financial assistance to develop the Calverton Enterprise Park site.

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.

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.

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.

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.

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.

“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.

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.