The Riverhead Industrial Development Agency held a special meeting Friday during which it granted Island International Exterior Fabricators an additional $1 million in tax abatements on the planned expansion of its facilities at the Enterprise Park at Calverton. READ
Atlantis Holdings was granted an exemption Monday on sales tax resulting from two projects it plans at the Long Island Aquarium and Hyatt Place hotel. READ
Larry Simms’ brief tenure as a member of the Riverhead Industrial Development Agency has come to an end.
Mr. Simms, an outspoken critic of the IDA who was appointed to the board earlier this year, submitted his letter of resignation. READ
Twin Fork Beer Company, which received final site plan approval last month for a brewery and tasting room on Raynor Avenue, now hopes to get tax incentives from the Riverhead Industrial Development Agency. READ
Peconic Care was granted Riverhead Industrial Development Agency tax incentives Monday, but they were not as extensive as requested.
Instead, the developers of the proposed addiction research and treatment facility at the Enterprise Park at Calverton will get a 12-year payment in lieu of taxes deal, which means they will pay taxes on only the land value for the first two years of construction, 2018-19 and 2019-20. The land assessment is currently $1,147,200. READ
North Fork Brewery received approval Monday from the Riverhead Industrial Development Agency to operate a tasting space in the west side of the former firehouse on East Second Street. There, it will join Long Beard Brewing Company, which already occupies the building’s east side. READ
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