Public Notice: Town of Riverhead — Community Development Agency special meeting to determine qualified and eligible sponsor

Event Date: 
Tue, 02/27/2018 - 7:00pm - 8:00pm

NOTICE OF PUBLIC HEARING AT SPECIAL MEETING

TOWN OF RIVERHEAD COMMUNITY DEVELOPMENT AGENCY

TOWN OF RIVERHEAD, SUFFOLK COUNTY, NEW YORK

            NOTICE IS HEREBY GIVEN, that the Town of Riverhead Community Development Agency, Town of Riverhead, Suffolk County, New York (the "Agency") will hold a Special Meeting for the purpose of a public hearing at Riverhead Town Hall, 200 Howell Avenue, Riverhead, New York 11901, on February 27 at 7:00 pm, prevailing time, pursuant to General Municipal Law 507(2)(d) for the purpose of considering whether CALVERTON AVIATION & TECHNOLOGY LLC should be designated the "qualified and eligible sponsor" for the redevelopment of approximately 1,643.8 acres of the EPCAL property and whether the portion of said property currently owned by the Town of Riverhead Community Development Agency should be sold to CALVERTON AVIATION & TECHNOLOGY LLC pursuant to a certain proposed Agreement of Sale among the Agency, the Town of Riverhead, and CALVERTON AVIATION & TECHNOLOGY LLC,which Agreement of Sale is on file in the office of the Town Clerk of the Town of Riverhead and is available for public inspection during regular business hours for a sales price of $ 40,000,000.00.  Pursuant to the Agreement of Sale, CALVERTON AVIATION & TECHNOLOGY LLC will redevelop the property it acquires in accordance with an Intended Development Plan that provides the construction and operation of commercial and industrial aviation and associated businesses, as well as other uses consistent with the PD Zoning District, but not including residential uses.  The Intended Development Plan provides in its initial stage that the Purchaser will spend not less than $1,000,000 to make infrastructure improvements to the runways at EPCAL and to construct at least one million square feet of commercial and industrial space with construction contemplated within 18-24 months of receipt of required approval with an anticipated completion in 12- 18 months after commencement of construction.

 

At said public hearing, the Community Development Agency will hear all persons interested in the subject matter thereof.

 

Dated:            Riverhead, New York

            February 6, 2018

 

 

By Order of the Town Board of the Town of Riverhead as the governing body of the Town of Riverhead Community Development Agency.

 

                                                                        Diane Wilhelm, Town Clerk