The owners of the John Wesley Village III senior apartment complex are seeking Riverhead Industrial Development tax breaks to rehabilitate 92 affordable apartments that were built in 2003.
But a frequent critic of the IDA says the proposal doesn’t create any new permanent jobs, which is one of the criteria for IDA assistance, and doesn’t propose any new structures. He questioned why it’s even being considered for IDA assistance. READ
Riverview Lofts, the five-story, 116-unit, mixed-use apartment complex planned for the southwest corner of East Main Street and McDermott Avenue in downtown Riverhead, was granted final site plan approval Wednesday in a split vote of the Riverhead Town Board.
The Riverhead Industrial Development Agency, which grants tax abatements “to attract new businesses to Riverhead and help existing Riverhead businesses expand their operations and remain in Riverhead,” according to the organization’s mission statement, has come under heavy scrutiny over the past several years. READ
The Riverhead Town Board Tuesday set a May 20 public hearing on the creation of a new zoning category for the Enterprise Park at Calverton, which would allow industrial, manufacturing, commercial and other principal uses, as well as residential and retail uses in support of those principal uses.
Peconic Bay Medical Center representatives meeting with Riverhead IDA officials in March. (Credit: Tim Gannon)
If you’ve followed the Riverhead Industrial Development Agency over the years, you may feel like it’s never voted down anything.
And a review of the IDA’s voting record over the past decade reveals that may be so. (more…)
In a split vote Monday night, the Riverhead Industrial Development Agency voted 3-1 to give tax incentives to Browning Hotel Properties for a second hotel proposed to be built next to the existing 114-room Hilton Garden Inn on Route 58.
IDA member Dawn Thomas, a former town attorney, cast the lone “no” vote, saying she wanted more time to read information submitted by the applicant. She had asked to table the vote for a future meeting, but the other board members opposed doing so, and proceeded with the vote on the application. (more…)
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.
A new hotel on Route 58, a new cider mill on Sound Avenue, and a new office complex downtown are all proposed for Riverhead and are all seeking tax incentives from the Riverhead Industrial Development Agency. (more…)