Proposed $1B resort in Calverton not dead, yet

[mikelbeck]

http://www.newsday.com/long-island/suffolk/proposed-1b-resort-in-calverton-not-dead-yet-1.2337938

The proposed $1-billion resort complex planned for Calverton - complete with an indoor ski mountain, a man-made lake and a resort hotel - has been given another month to come up with the money it owes Riverhead Town.

Riverhead Resorts has missed three payments that were required to extend the purchase contract with Riverhead. Tuesday, Riverhead Supervisor Sean Walter had prepared a resolution that would declare the contract to purchase the 755-acre, town-owned property terminated.

But after discussion, Walter agreed to give the firm another month to come up with the money it owes the town - about $6 million. The vote was 3-2 to table the resolution for one more month.

"This resolution is not required. This is my own doing. I wanted to turn the heat up on Riverhead Resorts," said Walter, who explained that the contract had expired once the company failed to make its $2 million payment for an extension in June.

But, he added, no one else is waiting to buy the property, and the town is already moving ahead on subdividing the land, a necessary step before it could be sold to anyone.

The project, first proposed two years ago, has encountered opposition from residents who complain it is too big and from environmentalists and state agencies worried about its impact.

Town Board member Jodi Giglio said some people had contacted her about purchasing the property at the town-owned Enterprise Park at Calverton, but that she has not met with them because of the commitment to Riverhead Resorts.

Mitch Pally, an attorney for Riverhead Resorts, said he has been talking to town board members for the past four days trying to get them to not take any action on the Riverhead Resorts contract. He said it has been difficult to complete the international financing needed to pay the town, but expects that about $4 million - to cover payments that should have been made in March and June - will be available the week of Oct. 18.

He said that he expects to negotiate a new payment deadline for the third $2 million payment, which was due in September, and to complete the purchase of the land by early next year.

[JAYMAN454]

"No one else is waiting to buy the property" ??

[novadose454]

we must all be on the wrong line to buy some of that land..

[cowbay]

I don't know but I must be living in the bizarro dimension

[Art]

I think they think if they continue to be quoted as if "we" don't exist, we will go away. Or when we do prevail, they can "swear" they had no prior knowledge. Cowards.

[betcha618]

you guys need to read, there is mention of someone else interested. AND this also proves Marty's claims to have a builder that doesn't want to move till the RR deal is officially done. See this quote""


Town Board member Jodi Giglio said some people had contacted her about purchasing the property at the town-owned Enterprise Park at Calverton, but that she has not met with them because of the commitment to Riverhead Resorts.

[mikelbeck]

you guys need to read, there is mention of someone else interested. AND this also proves Marty's claims to have a builder that doesn't want to move till the RR deal is officially done. See this quote""

Yes, but who are they?

[betcha618]

WHAT DIFFERENCE DOES IT MAKE?? do you know who the builder was that built six flags? no you just go there. who was the builders in the Smith Haven Mall?? who cares it got built. If these guys wanted to build a track and NEVER BE KNOWN BY THE PUBLIC, I wouldnt care. I would still go there and race. Us knowing the builders name does what for us?? most people wouldnt know who they are anyway. So its enough to the general public to say "we have a builder lined up". and don't take this as I talked to Marty and I know. I don't know who they are either, and frankly I don't care as long as they are willing to build what we want.

[mikelbeck]

WHAT DIFFERENCE DOES IT MAKE?? do you know who the builder was that built six flags? no you just go there. who was the builders in the Smith Haven Mall?? who cares it got built. If these guys wanted to build a track and NEVER BE KNOWN BY THE PUBLIC, I wouldnt care. I would still go there and race. Us knowing the builders name does what for us?? most people wouldnt know who they are anyway. So its enough to the general public to say "we have a builder lined up". and don't take this as I talked to Marty and I know. I don't know who they are either, and frankly I don't care as long as they are willing to build what we want.

Were you around when Top Gun was making promises about building exactly what everybody was asking for? Everybody lined up behind them, they strung us along and then it turned out they had no money and never had anything besides an idea.

I don't get why this is such a big secret, if there's somebody who has the money, ambition and plan to build something then I'll get behind it 100%. But all I hear now are whispers about somebody wanting to build something there. Hell, *I* want to build something there. I've got a plan - build a dragstrip. But I've got no funding so it's just a pipe dream. How do we know that any of these new ideas are anything but the same?

[Art]

Yep I remember Top Gun. I remember feeling burnt. I walked away for a while. But without what we have (which is us discussing things) we won't have anything else. I can understand both sides, and honestly I cannot say I have anymore answers than anyone else. All I have left is desire. (and a lot of anger but that's a different thread) And that is what drives me to believe. Seriously, what else do we have? Street racing? No thanks. Trips out of state? My pockets aren't deep enough often enough. So I press on. When the dust settles and it works out however it does, I will have had the satisfaction of following what I thought was right against the odds. And prevailing in a situation like that is pretty sweet.

[betcha618]

the real question would be is there any better option. We meet up every once in a while, hang out with a bunch of others that share our love of cars and racing and in the end maybe get a track built. I don't see the problem.

[Tmac]

I remember reading something on LIMA a while back, about Rexcorp willing to come back if RR was gone. They didn't want to share the property with RR or anybody or it wouldn't make their project viable.

[betcha618]

i think they went and invested in land somewhere else and are no longer interested iirc

[Tmac]

Rechler was looking to do that Lighthouse project with Wang in Nassau also. Don't know how deep his pockets are but he's know to get things done.

[cowbay]

Rechler was looking to do that Lighthouse project with Wang in Nassau also. Don't know how deep his pockets are but he's know to get things done.

Unfortunately Rex group has taken a hit in this economy as most of us have. But hey the govt. says the recession ended last June. Go tell that to everyone who is unemployed, but I digress. I think that purchase price would have to be lower though for them to make the move.

[Tmac]

The recession is over for the govt. because election time is comming. They could care less about their constituants who have to pickup the check. Their primary job is to keep their job. This country has been sold out to the highest bidder. Our govt. also pushes for immigration saying it's good for America. Well with 12,000,000 Americans out of work and an estimated 20,000,000, illegal immigrants working in America who are they kidding. That dickhead Colbert with mexicans will give their jobs to any American that will take them and go to feilds with crop pickers, why didn't he go to just about any nonunion construction site in America and make the same offer. Then to sit before congress with this bs. Maybe he and people like him should pick up the tab for the for medical and all the other benefits that are paid by monies that the now unemployed put into that system.