Riverhead can’t decide on lawyers for vetting of $40M EPCAL deal

The Riverhead Town Board couldn’t decide last week between two law firms vying to offer legal advice on the pending $40 million sale of more than 1,600 acres at the Enterprise Park at Calverton, Newsday reported. Riverhead residents and three board members wanted to consult with legal experts because one of the potential buyers, Luminati Aerospace, is facing a slew of legal issues. The board was trying to choose between Stagg, Terenzi, Confusione & Wabnik and Lazer, Aptheker, Rosella & Yedid, but neither law firm got enough votes to put it over the top. The bid for legal assistance came after Luminati was sued for defaulting on the conditions of a $10 million promissory note. The company, which partnered with an aviation subsidiary of Canada’s Triple Five Group to buy the EPCAL land, failed to pay rent on a building at the site it was already using. One of the board members who opposed getting any legal help was Tim Hubbard, who argued doing so would imperil Riverhead’s chances of getting $10 million in state funds to revitalize its downtown. Hubbard hopes to meet with the town’s attorney handling the deal, Frank Isler, before considering outside counsel. [Newsday]