Peconic Crossing, a 45-unit, five-story “workforce housing” apartment building proposed on West Main Street, will get a 100 percent property tax abatement on the value of the improvements for 10 years, under a decision made by the Riverhead Town Industrial Development Agency Monday. READ
An 89-year-old building on Second Street best known for housing Dr. Hallock Luce’s former office is being proposed as an “incubator for mental health clinicians.”
The Riverhead Industrial Development agency will have a busy meeting next month, when two large downtown apartment projects are scheduled to make presentations and the board also decides the fate of a controversial hard cider distillery’s request for IDA benefits. READ
After farming in Jamesport for four generations, the Zaweski family has decided to open a store in downtown Riverhead.
Should a business that has received tax abatements pay back the public if it doesn’t meet its projected goals?
The Riverhead Industrial Development Agency unanimously approved a measure Monday allowing Robert James Salon to move into a new, smaller, location in the former Woolworth building on the north side of downtown Main Street. READ
The Riverhead Industrial Development Agency voted unanimously at a special meeting Tuesday to grant tax incentives for a proposed restaurant and boutique hotel on East Main Street and for an additional 10-year tax abatement at the Long Island Aquarium.
That part of the meeting took about 10 minutes. The dispute that followed lasted nearly an hour. READ
Without tax incentives from the Riverhead Industrial Development Agency, the Long lsland Aquarium in downtown Riverhead would pay close to $1 million a year in taxes and would not be able to stay open, according to Bryan DeLuca, the executive director of Atlantis Holdings, the company that owns the complex containing the aquarium, the Hyatt Place hotel, Treasure Cove Marina and Jerry and the Mermaid. READ