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Riverhead IDA Approves 30-Year Tax Relief Agreement With Downtown Developer Of Affordable Rental Apartments

Victoria J. Manzo September 12, 2017

The Riverhead Industrial Development Agency voted unanimously yesterday to approve a 30-year deal with Georgica Green Ventures giving the developer of the proposed downtown apartment building a property tax rebate under legislation of the state which aims to promote affordable rental housing. The total value of the rebate over 30 years will be $ 2,352,750, …

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Riverhead IDA Approves 30-Year Tax Relief Agreement With Downtown Developer Of Affordable Rental Apartments

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