Public Hearings

NOTICE IS HEREBY GIVEN that a public hearing, pursuant to Section 859-a(2) of the General Municipal Law will be held by the Town of Riverhead Industrial Development Agency (the “Agency”) on July 11, 2011 at 5:00 p.m. prevailing time at the Riverhead Town Hall, 200 Howell Avenue, Riverhead, New York, in connection with an application for financial assistance from Peconic Management Group, LLC, with respect to the construction of a 5,700 square foot medical facility on a .75 acre parcel located at Roanoke Avenue, Riverhead, New York (S.C.T.M. 0600-126-2-9) for provision of medical offices with a Regional Outpatient Pulmonary Rehabilitation Center. The Agency proposes to acquire a leasehold interest in the Project from Peconic Management Group, LLC, to appoint Peconic Management Group, LLC and any related parties agent of the Agency with respect to constructing, equipping and maintaining the Project and to provide financial assistance to Peconic Management Group, LLC and any related parties with respect to the Project through (i) the provision of an exemption from Sales and Compensating Use Taxes on certain property, including tangible personal property, and (ii) a partial abatement of real property taxes by granting a partial abatement of real property taxes attributable to any increase in assessed value of the real property comprising the Project over the present assessed value of such real property ($25,700) for a period of ten (10) years, and (iii) the provision of an exemption from Mortgage Recording Taxes. The financial assistance described in (i), (ii) and (iii) above would be consistent with the uniform tax-exemption policy adopted by the Agency. The Agency may determine to provide less financial assistance than permitted by such policy.

The initial owner of the Project will be Peconic Management Group, LLC. No obligations of the Agency shall be issued by the Agency for the Project.

In accordance with the provisions of the State Environmental Quality Review Act, the agency has determined with respect to the Agency’s providing the aforedescribed financial assistance to Peconic Management Group, LL and the related parties with respect to the Project that the provision of said financial assistance will not have a significant effect on the environment.

Further information on the proposed Project, including the application for such financial assistance and a cost and benefit analysis, is available for public inspection at the Agency’s office located at 1 East Main Street, Riverhead, New York, during normal business hours.

Dated: June 20, 2011

TOWN OF RIVERHEAD INDUSTRIAL DEVELOPMENT AGENCY

By: _______________________
Secretary