The developer of a 114,090-square-foot Marriott Residence Inn under construction on the west end of Route 58 across from Tanger Outlet Center is expecting the cost of the project to increase from $26,849,775 to $32,681,960, in part because of plans to install a new traffic signal on the western end of the property that will allow cars leaving the hotel property to turn east.
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
Two projects received tax incentives from the Riverhead Industrial Development Agency Monday, and two others began the process of applying for them. READ
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
On behalf of the board of directors of the Riverhead Industrial Development Agency (IDA), I am pleased to provide the members of the Riverhead community with an update on the activities undertaken by the RIDA in support of the growth and vitality of our local economy.
Bob Castaldi, owner of the Second Street firehouse building, and Paul Carlin, right, of Long Beard Brewing Co. address the Riverhead IDA Monday.
The owners of a fledgling brewery that’s proposed for the former Second Street firehouse are seeking tax exemptions from the Riverhead Town Industrial Development Agency to help them get started.
“Any little help we can get is important to us,” said Paul Carlin, the co-owner of Long Beard Brewing Company. “We chose Riverhead because we feel it something that’s coming back.” (more…)
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…)
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…)