Resorts Wants to Renegotiate EPCAL
Riverhead Resorts has apparently lost some confidence in their $155 million dollar plan for EPCAL and wants to renegotiate their offer with the Town. Refusal by the Town to lower the purchase price will jeopardise the project and could result in the recreation project being withdrawn or greatly scaled back.
Also at risk is the $3 million dollar deposit made by Resorts. The Town has been counting on using the deposit in part to reduce the tax burden in the 2010 budget. That exposure plus finding a way to pay for the emergency dispatchers who will be retained by Riverhead (voted by referendum in the recent election) may cause a big leap in Town taxes.

Rail Spur Funds Coming to Riverhead.
Governor Paterson has announced that Riverhead will receive $5 million dollars in stimulus money to help pay for a rail spur into EPCAL. The Town expects rail freight revenues to increase considerably as a result.

School Aid May Be Cut
State Assemblyman Mark Alessi believes that state aid to education to the Riverhead Central School District will be cut. NY State revenues are down and will be reflected in lower school aid disbursements.

A Labor of Love for Animator Lucas Martell