03/11/15 12:00pm
03/11/2015 12:00 PM
Riverhead Town Supervisor Sean Walter giving his State of the Town speech last month. (Credit: Tim Gannon, file)

Riverhead Town Supervisor Sean Walter giving his State of the Town speech last month. (Credit: Tim Gannon, file)

Moody’s Investors Service has downgraded Riverhead Town’s credit rating, meaning the town will have to pay higher interest rates on any future borrowing involving municipal bonds, according to a summary report listed on the credit rating agency’s website.

The downgrade, from an Aa2 score to an Aa3 score, was attributed to the town’s steady depletion of its reserves.  (more…)

03/10/15 6:05pm
Town Board members took John Cahill (center) of The Pataki-Cahill Group on a tour of EPCAL last December. 'There's tremendous infrastructure on the site,' Mr. Cahill said. (Credit: Barbaraellen Koch)

Town Board members took John Cahill (center) of The Pataki-Cahill Group on a tour of EPCAL last December. ‘There’s tremendous infrastructure on the site,’ Mr. Cahill said. (Credit: Barbaraellen Koch)

Former New York governor George Pataki won’t be marketing the Enterprise Park at Calverton after all — but he may represent companies that want to buy land there. (more…)

03/09/15 5:00am
Congressman Lee Zeldin speaks to reporters and concerned members of the public at a press conference on helicopter noise at Southold Town Hall Sunday. (Credit: Vera Chinese)

Congressman Lee Zeldin speaks to reporters and concerned members of the public at a press conference on helicopter noise at Southold Town Hall Sunday. (Credit: Vera Chinese)

Congressman Lee Zeldin asked the Federal Aviation Administration to do its part in reducing helicopter noise on the East End before the busy summer season in a letter he sent last week.  (more…)

03/06/15 8:28pm
03/06/2015 8:28 PM
Peconic Bay Medical Center representatives (left) met with Riverhead IDA officials Friday evening. (Credit: Tim Gannon)

Peconic Bay Medical Center representatives (left) met with Riverhead IDA officials Friday evening. (Credit: Tim Gannon)

Locked in a dispute over the amount of fees Peconic Bay Medical Center should pay the Riverhead Industrial Development Agency due to a change in the hospital’s IDA financial assistance — a debate that amounted to a difference of $114,631 versus  $2,500 — the two sides went behind closed doors Friday and emerged with a compromise that will end up with the hospital paying $35,000 in IDA fees.

The IDA, which grants tax incentives to lure new businesses to Riverhead Town, can also issue tax-exempt bonding for nonprofit agencies like hospitals. It funds its own budget by charging fees to the businesses it helps. How those fees are determined is spelled out in a schedule of fees available on the IDA website.

(more…)