Supervisor Sean Walter and the Riverhead Town Board have voted to terminate the agreement with Riverhead Resorts to purchase 755 acres at EPCAL. The vote 4-1 with Board member John Dunleavy voting against the termination.
The deal began to unravel this week when Resorts pulled back it's check for $3.9 million dollars stating that the bank on which the check was drawn preferred to wire the funds instead. Board members Jodi Giglio and George Gabrielsen had objected to the deal on several occasions and wanted the Town to terminate the arrangement with Resorts during the course of several meetings.
Gabrielsen now feels that the Town could proceed with dividing the 755 acres into more attractive and desirable parcels which could sell faster and perhaps bring more revenue.
Revenues Fall Short
The Town is reporting a revenue shortfall of about $900,000 which will now have to be reflected in the 2011 budget. At the moment the projected tax increase is expected to be around 3.8%.
Election Results....when?
The Bishop/Altschuler camps are still wrestling with the recount problem. Each candidate feels that he has won the congressional seat in CD-1 and is still awaiting final results.
No different with Alessi and Losquadro. Both feel that they have won the race for NY State Assemblyman but the recounts are not expected to be finished before the end of the month.
Meanwhile....look at Rte 58
New Suzuki dealership building construction well underway.
Preliminary work underway for the new Lowes located at the old Suffolk Life building with a finish sometime next year.
Plans are in the works for a Costco outlet on rte 58 opposite the Riverhead Raceway.
Planning also starting up for a 170,000 square foot Wal-Mart on Rte 58 property opposite the Tanger Outlet Center.
Don't Try At Home
Don't Try At Home
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