One of the largest employers in the Enterprise Park at Calverton was given a 15-year tax incentive by the Riverhead Industrial Development Agency Monday. The package is intended to keep the company in Calverton. READ
Tag: industrial development agency
A group called Calverton Distribution Rte 25 has withdrawn its request for Riverhead Industrial Development Agenda tax incentives on a new 45,000-square-foot PODS building that was already under construction on Route 25 in Calverton, according to IDA chairman Tom Cruso. READ
Here’s an idea: Let’s open a pizza place, you and me. We’ll make it all fancy: red checked tablecloths, those wine bottles with straw on them, candles, pictures of Sinatra, the works.
The owner of 30 West Main, pictured on the left, is hoping to bring in tenants next door where Allied Optical Plan currently does business. (Credit: Barbaraellen Koch)
Two business owners that have received Industrial Development Agency tax breaks in the past were back for more — but on different projects — at a recent IDA meeting. (more…)
Mike Harrigan, chairman of the Wading River Fire District commissioners, speaks at Tuesday’s town board meeting. (Credit: Tim Gannon)
A proposal to eliminate the section of the Riverhead Town Code that divvies up false alarm fines 70-30 between the local fire districts and the town was opposed by one fire district and supported by another at a public hearing on Tuesday. (more…)
A rendering of the proposed 114-room Marriott Residence Inn on Route 58.
A developer proposing to build a Marriott Residence Inn on Route 58 in Riverhead claims his bank won’t finance the project unless he secures tax breaks.
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.