Calverton Aviation and Technology has made a $500,000 initial deposit within the time frame called for in the agreement of sale between CAT and Riverhead Town, according to Supervisor Laura Jens-Smith.
CAT is proposing to purchase 1,643 acres of land from the town at the Enterprise Park at Calverton for $40 million. READ
While Riverhead Town officials have said for much of the past few years that the state Department of Environmental Conservation will only allow about 600 acres to be developed at the Enterprise Park at Calverton, Supervisor Laura Jens-Smith said there is no mention of any development cap in the contract to sell 1,643 acres of town-owned land at EPCAL to Calverton Aviation & Technology. READ
As the long-awaited votes were cast last week to determine whether Calverton Aviation & Technology can proceed with the purchase of 1,640 acres of land at the Enterprise Park at Calverton, town leaders accurately described it as the biggest decision they’re likely to make in their current roles. More than one speaker, in addition to the elected officials, noted the effect this decision will have on their children and grandchildren. READ
The Riverhead Town Board last week voted 3-2 in favor of a resolution to find Calverton Aviation & Technology qualified and eligible to purchase the approximately 1,600 acres of town-owned land at Enterprise Park at Calverton.
So what happens now? READ
After months of deliberating, the decision is in: The Riverhead Town Board has voted in favor of Calverton Aviation & Technology as being qualified and eligible to purchase approximately 1,640 acres of town-owned land at Enterprise Park at Calverton. READ
More than eight months after first hosting a “qualified and eligible” hearing on Calverton Aviation & Technology, the Riverhead Town Board will finally get its chance to vote. (more…)
Riverhead Town’s Ethics Board has ruled that Councilwoman Jodi Giglio does not have to recuse herself from voting on the “qualified and eligible sponsor” status of Calverton Aviation & Technology, which is seeking to buy 1,640 acres of land from the town from $40 million. (more…)
Calverton Aviation & Technology has provided Riverhead Town with the additional financial information it promised, including three letters from financial institutions who are willing to finance construction and updated renderings showing the first phase of construction, according to Stuart Bienenstock, the director of business development for Triple Five Group, which is the majority owner of CAT. READ