RIVERHEAD, NY-Riverhead Resorts LLC contract with the town here was approved, following consideration of the draft contract and the Qualified and Eligible Sponsor evaluation in which the Riverhead Town Board determined it has the financial capability and qualifications to develop its proposed $1-billion to $1.5-billion project. The proposed project is a multiple-themed destination resort plan for the 755-acre former Grumman property designated by Riverhead Town on the Enterprise Park Calverton. The town approval authorizes the town supervisor to sign the contract negotiated with Riverhead Resorts over the past several months.

"Riverhead Resorts is thrilled to have satisfied this prerequisite and can now move forward with the engineering and environmental work which are the foundation of project and site development," says Don Secunda Esq. of Weber Law Group, counsel to the project. Secunda tells GlobeSt.com that he expects that within about two to three years, all the permits for construction should be secure and construction can begin. "Not only are we confident that this project represents the highest and best use for this property but the down payment and community benefit payment which will be released to the town in 2008 are the first of the tremendous economic outcomes this project represents for the town and region."

The completion of the QES process and the contract authorization allow the project to proceed with the detailed environmental studies and to initiate the State Environmental Quality Review Act including active community participation. Riverhead Resorts developed its project concept based on environmental parameters before its proposal to the town. The project team first outlined environmental protection zones for Pine Barrens, tiger salamander habitat, and other wetland and surface water features. Multi-modal on and off site transportation planning for staff and the extended stay guests will reduce traffic impacts bringing visitors and workers to the site utilizing a variety of transportation modes. Guest transportation is provided to regional attractions including Riverhead shopping, entertainment and museum destinations, regional wineries, and East End beaches and locales expanding the economic impact and benefit of the year-round, extended-stay business and family guests from the metropolitan area, 100-mile northeast region, national and international air traveler markets.