Riverhead hires counsel to inspect EPCAL deal amid financial concerns

Posted: Updated:
RIVERHEAD -

The Riverhead Town Board on Thursday decided to hire outside counsel to take a look at the deal to sell over 1,600 acres of the former Grumman site in Calverton to mega-mall developer T5 and partner Luminati Aerospace.

A contract is in place for the partners to purchase the property for $40 million. But the Town of Riverhead says it's concerned about the recent financial collapse of Luminati, which has a 25% stake in the property and was considered a principle player in the site's development.

Town Supervisor Laura Jens-Smith calls the developer's plans for the land vague. But some board members are still in favor of the plan.

Kathy McGraw is part of a Riverhead group called EPCAL Watch, which has been keeping a close eye on the deal. The group also raises concerns about the undeveloped and environmentally sensitive land. McGraw calls it a bad deal for Riverhead, both financially and environmentally.

  • SlideshowsGalleriesMore>>

  • Your Oct. 16 storm photos

    Your Oct. 16 storm photos

    Storm photos Oct. 17Storm photos Oct. 17
    Storm photos Oct. 17Storm photos Oct. 17
    Heavy right and high winds swept through the tri-state area due to a large coast storm on the night of Oct. 16. Here are your photos from the storm.
    Heavy right and high winds swept through the tri-state area due to a large coast storm on the night of Oct. 16. Here are your photos from the storm.
  • Yankees in the 2019 Playoffs

    Yankees in the 2019 Playoffs

    New York Yankees pitcher CC Sabathia throws against the Houston Astros during the 10th inning in Game 2 of baseball's American League Championship Series Sunday, Oct. 13, 2019, in Houston.New York Yankees pitcher CC Sabathia throws against the Houston Astros during the 10th inning in Game 2 of baseball's American League Championship Series Sunday, Oct. 13, 2019, in Houston.
    New York Yankees pitcher CC Sabathia throws against the Houston Astros during the 10th inning in Game 2 of baseball's American League Championship Series Sunday, Oct. 13, 2019, in Houston.New York Yankees pitcher CC Sabathia throws against the Houston Astros during the 10th inning in Game 2 of baseball's American League Championship Series Sunday, Oct. 13, 2019, in Houston.
    Photos on the field of the New York Yankees in the 2019 American League Division Series vs. the Minnesota Twins.
    Photos on the field of the New York Yankees in the 2019 American League Division Series vs. the Minnesota Twins.
  • Your Long Island Fall Fun Photos

    Your Long Island Fall Fun Photos

    Monday, October 7 2019 12:12 PM EDT2019-10-07 16:12:23 GMT
    Fall FunFall Fun
    Fall FunFall Fun
    Are you and your family doing fun things this fall? Whether you're out apple or pumpkin picking, at a farm or corn maze or just hanging around in your home or yard, News 12 Long Island wants to see your Fall Fun pics!
    Are you and your family doing fun things this fall? Whether you're out apple or pumpkin picking, at a farm or corn maze or just hanging around in your home or yard, News 12 Long Island wants to see your Fall Fun pics!
sorry to interrupt
your first 20 are free
Access to News 12 is free for Optimum, Comcast®, Spectrum Networks® and Service ElectricSM customers.
Please enjoy 20 complimentary views of articles, photos, and videos during the next 30 days.
you have reached your 20 view limit
Access to News 12 is free for Optimum, Comcast®, Spectrum Networks® and Service ElectricSM customers.
Please login or create an account to continue enjoying News12.
Our sign-up page is undergoing maintenance and is not currently available. However, you will be given direct access to news12.com while we complete our upgrade.
When we are back up and running you will be prompted at that time to complete your sign in. Until then, enjoy the local news, weather, traffic and more that's "as local as local news gets."