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Tech and aviation companies, from Maglev to space rocket developers, say they want to work at EPCAL during hearing | RiverheadLOCAL

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Tech and aviation companies, from Maglev to space rocket developers, say they want to work at EPCAL during hearing | RiverheadLOCAL

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Riverhead officials wrapped up the "qualified and eligible sponsor" hearing on Calverton Aviation and Technology in a five-hour session last night at Pulaski Street School.

By the end of the hearing, the Triple Five Group had presented more details about their vision for the development of the Enterprise Park at Calverton: a high-tech, research-oriented, aviation technology center they say will bring thousands of well-paying jobs to the region and restore Long Island to the position of pre-eminence it once held in the aerospace industry.

Several technology and aviation companies expressed interest in working at EPCAL with Triple Five at the hearing, including a Maglev technology developer and a start-up designing rockets to launch miniaturized satellites into space.

At the center of the vision remains Luminati Aerospace, a startup cofounded in 2015 by entrepreneur and inventor Daniel Preston with the dream of building high-altitude, solar- and wind-powered unmanned aerial vehicles capable of perpetual flight. The aim of the endeavor, he told town officials in 2015, was to bring wireless internet to remote, unserved regions of the globe.

Luminati Aerospace is a minority member of Calverton Aviation and Technology, a company formed in December by Triple Five and Luminati for the purpose of completing the EPCAL land acquisition. But neither Luminati nor Preston has any control over the operation of the new company, Triple Five representatives repeatedly stressed last night. Since the opening session of the hearing on Feb. 27, Triple Five said it had Luminati relinquish all management authority in the company, though Luminati still owns 25 percent of CAT.

The management change was made to address concerns expressed by town board members and community members about Preston's business track record and history.

Neither Preston nor his longtime attorney, Robert Hasday, was present at last night's hearing. Preston was also absent for the opening round, but Hasday represented CAT at that session.

Last night, CAT had a new attorney: James Catterson, partner in the NYC law firm of Arnold and Porter.

"Triple Five Group is the managing member [of CAT] - the only entity of any type that has any control over the project for Calverton Aviation and Technology," Catterson said. CAT had submitted to the town's special counsel letters to that effect from Preston, from another NYC law firm that Catterson said reviewed all the corporate documents, and from Catterson himself.

But the town supervisor said the town wants to see the operating agreement between Triple Five and Luminati before making a decision.

"We've asked for that several times and haven't received it. You're aware of that, correct?" Supervisor Laura Jens-Smith said. Catterson answered in the affirmative but provided no explanation for the omission.

Jens-Smith pressed that point several times throughout the proceeding. Stuart Bienenstock, Triple Five's director of business development, also acknowledged that the company had not complied and also offered no explanation; he eventually said the agreement would be submitted to the town "soon."

"We will do our best in the next couple of days to provide a copy of the operating agreement," Bienenstock said.

In an interview after the hearing, asked why the company had not provided the operating agreement to the town despite multiple requests, Bienenstock said it was because of "corporate governance."

He explained: "This is a private company. They are very reluctant to disclose internal documents." But, he said, Triple Five will comply with the town's request.

Triple Five Group chairman Nader Ghermezian said his company is one the town can trust to do something with "land that has been sitting here 20 years and nothing has happened to it."

He said his company, an international conglomerate, was eager to expand, especially in aviation. He said Triple Five would make "an aviation hub in Calverton like Silicon Valley," creating many high-paying jobs.

"I understand you have had bad experience with other people," Ghermezian said. "Today you have somebody who can make this come to fruition. Today you have someone you can trust, somebody who wants to build, somebody who can do something everyone can be proud of," he said.

"I am lucky that I'm here but you're luckier that we are here to do something," he said.

Ghermezian highlighted the industrial and manufacturing companies that are part of the Triple Five Group, which is best known for its development and management of mega malls that have large entertainment and recreation components, the West Edmonton Mall in Alberta, Canada and the Mall of America in Minnesota. Triple Five is currently building another mega mall complex at the Meadowlands in East Rutherford, New Jersey, which it calls American Dream.

He said some number of Triple Five industrial division subsidiaries - the number and type to be determined - will locate at EPCAL. They include companies that manufacture electrical equipment, trucks, and helicopters, among other things.

"Today we are not here to try to make money. We are here to try to help the people," he said, saying he doesn't need to make more money.

"The jobs we will create will be high-paying jobs."

He submitted copies of letters from several other companies indicating their interest in locating at EPCAL and gave a brief description of each.

"Why these people are interested in coming to this place, why they didn't come the last 20 years - it's because we are Triple Five and they want work with Triple Five. They know we do what we say and they know if they come with us, we make them successful."

Triple Five plans to lease space to companies that locate at EPCAL, not sell lots outright.

A number of representatives from several technology and aviation companies spoke about their interest in working at EPCAL with Triple Five.

Sci-Max Technology president Max Gross, a former Grumman engineer, spoke of his interest in CAT, saying his company wants to stay on Long Island. The startup is currently located at the Composite Prototyping Center in Plainview, where Gross also serves as director of engineering technology development. Its business is primarily composites technology development geared to aerospace. It has also developed technology for the energy industry, such as windmill blades.

Sci-Max has a Navy contract for the development of helicopter blades. If it becomes a production contract, Gross said, the production would all take place in Calverton.

Tech engineer and inventor Max Haot, a founder of the video live-streaming platform Livestream and the owner of Launcher, a company developing rockets to launch miniaturized satellites into space, also addressed the board on his interest in CAT.

Currently headquartered in an incubator lab at the Brooklyn Navy Yard, Launcher has established a temporary test site at EPCAL for the past six months, Haot said. He showed video of rocket engines he's test-fired at EPCAL, where Launcher is subleasing a portion of the area on runway, Haot said. He has temporary containers placed on the site, he said.

Launcher is interested in leasing about five acres to establish a test facility at EPCAL. They won't be launching rockets there, Haot said. If the project is successful and moves to the production stage, rocket launching would take place at the Kennedy Space Center in Florida.

Dr. Jesse Powell founder and president of Maglev Strategies, a company focused on identifying new markets and opportunities for Maglev technologies.

"EPCAL - now CAT - is a really excellent opportunity for technlogies like maglev to be built here on Long Island," Powell said. "I represent a consortium of scientists, academics and engineers who would like to build the next generation of maglev technology here in New York."

His father James Powell and Gordon Danby of Wading River invented the first generation of maglev at Brookhaven National Laboratory 50 years ago.

Maglev technology has been deployed in Asia, in Japan and China. It is capable of high-speed transport of passengers and freight. It was not embraced in the United States, largely due to competing political interests, he said. "It was viewed as a zero-sum game," Powell said.

Powell said he would like to lease land at CAT to build two maglev test tracks - a one-mile track and a three-mile track. His company's focus will be transporting freight rather than passengers. It's a vastly larger market, he said.

Maglev would be able to transport a truck from Los Angeles to New York in eight hours. It could cut trucking expenses in half, increasing trucking companies' profits while making a profit for the maglev operator. "Everybody wins," Powell said.

"CAT is a really interesting and fantastic site," Powell said. "It's the only remaining land on Long Island big enough for a test track." Its proximity to BNL, where there are "world- leading magnet scientists," is a huge benefit, as are its proximity to institutes of higher education.

"The LIRR presents a great opportunity for a pilot program," Powell said. He said he foresees a phase three of a research center program being the construction of a maglev track between Ronkonkoma and Riverhead. There's not many trains serving the East End each day and the track is not electrified, Powell said.

Building research test tracks would require about $150 million in funding, he said.

Getting funding for maglev research and development has been a heavy lift, Powell acknowledged upon questioning by Jens-Smith. But he believes that is about to change as government turns to public-private partnerships for infrastructure improvement, he said, with the country facing a trillion dollars worth of costs.

In addition to prospective CAT tenants, Triple Five consultants and employees also spoke about the company's vision for Calverton and its capabilities, to expand on the written answers Triple Five/CAT submitted in response to questions posed by the public at the Feb. 27 hearing.

Steve Rogers, who was on the team that helped build the composite development cluster in Utah, has been retained by Triple Five and will have a full-time role in CAT, Bienenstock said in an interview last week. Rogers has been in aviation and composites since he worked for Boeing years ago. He spoke last night of the track record of Triple Five and the possibilities for the Calverton site.

In a phone interview last week, Rogers said he will "identify and pursue critical elements of the ecosystem we need out in Calverton."

The sustainable high-paying jobs the project will produce will allow the youth of the local community to stay here, Rogers said last night.

"There are a lot of places in this country that would kill for an opportunity like this. But there's something special in Calverton and in Suffolk County that's special - a talented workforce, the national lab, universities, the runway infrastructure and a legacy of aviation technology," Rogers said.

"I think we all hope for this vision," Jens-Smith said. "It's something we'd like to see in Riverhead, but we're not just looking for a vision, we're also looking for a plan to create that vision," she said. "Who do you envision will be the large stakeholder you say is needed for this project?"

Rogers said he could not yet answer that question, as he's only been involved in the project for a month.

The development plan negotiated by the town and the applicant requires the buildout of 1 million square feet of industrial space in 18 to 24 months after permit approvals, Jens-Smith said, asking if Rogers believed that was possible. He declined to speculate on that.

James Lima, CAT's economics consultant, said he estimated the "total economic output" of the project will be $4.39 billion.

Unlike the first session, last night's session was intended for town board members, who sit as members of the Riverhead Community Development Agency, which actually holds title to the EPCAL site, to ask questions of the applicant.

The supervisor repeatedly interjected questions as the presenters spoke, as Councilwoman Jodi Giglio did a few times also. At the conclusion of the presentations, board members took the opportunity to ask additional questions.

"What sort of tax breaks will you be seeking?" Councilwoman Catherine Kent asked.

"We will apply for whatever is legally available and allowed," Nader Ghermezian answered.

Jens-Smith asked for a projection of the actual tax benefits of the project.

Giglio asked if the applicants were planning to allocate any property for fire and ambulance services, noting that ambulance and fire department substations are needed.

She also asked if Triple Five would be willing to pay for recreational facility improvements in Calverton, where the town has built ballfields and would like to add turf fields and lights.

"When I spoke with you at the Chamber of Commerce meeting [March 7] I explained to you our town is broke. We have no money to improve our parks. I wonder if you have given any thought to how you could be a good community member and help our town," she asked.

Nader Ghermezian stood up to reply. "I understand you need turf for two parks for the children to play and lighting," he said. "Two turfs on those properties will cost $2 million. The lighting you want to put over there you can get half from the government so you're short $500,000. That's $2.5 million to fix up your two parks for the children," he said.

"As an indication of good faith - provided we get unanimous approval - we'll give you $2.5 million to do that," Ghermezian said.

"I appreciate that but that's not how I negotiate," Councilman James Wooten responded.

After the board members questioned the applicant, members of the public were allowed to pose any additional questions they had.

Many members of the public used the opportunity to make statements about the project rather than ask questions pertaining to the applicant's ability to perform, despite Deputy Supervisor Tim Hubbard's reminder about the purpose of the meeting.

Others asked pointed questions.

"Who's going to oversee use of the runway?" asked Robert Skinner of Calverton. He expressed concern about Ghermezian's use of the phrase "establish an aviation hub" in connection with the project.

"This is not going to become an airport," Bienenstock replied.

Wading River Civic Association president Sid Bail asked if Triple Five would commit to not asking the FAA for funding for runway improvements.

"FAA money is for commercial aviation," an unidentified Triple Five representativ replied from the audience. "We're not appplying for commercial aviation."

Larry Simms of South Jamesport, who has been a critic of the proposal, said last night he would like to support the project but has reservations. Some of his strongest reservations have to do with control of the runways.

Luminati has an existing license agreement that gives it exclusive control over the 10,000-foot runway through at least 2025, with the option of two unilateral 10-year extensions. CAT's purchase of the site - including both runways - won't change that, Simms said. Bienenstock said he believes Luminati could be required to forfeit its runway use agreement, but was unable to immediately provide a definitive answer.

"It is clear there is no specific plan that gives Tirple Five or CAT control of the runways. There can be no determination of qualified for this without that control," Simms said. "Without that answer and without that guarantee, this is a crapshoot."

Simms also asked if Triple Five would start anew and negotiate with the town directly, rather than working with the agreement that was largely negotiated by Luminati prior to Triple Five's introduction to the deal, which Bienenstock said in an interview last week did not occur until December.

"Why 1,600 acres instead of 600? If you really want to work with us, why are you saying approve this deal or we're going away? If you really want to work with us, work with us," Simms said.

"Irrespective of our differences with Daniel, we will not pursue this opportunity without Daniel Preston," Bienenstock answered.

Craig Dahlgren of Calverton, who said he does not support the proposed sale
"because of the lack of transparency with the deal" from the beginning and his sole interest is to help "preserve the character of Riverhead and keep it from becoming an overdeveloped eyesore like so much of Long Island," asked the applicant how it could guarantee that its operations won't contaminate the site the way the Grumman operation did.

He also asked CAT's intentions for maintaining the grasslands on the site and what kind of lighting is being discussed there. "What is the lighting needed for? What exactly is going to be going on on these runways?" he asked.

"Triple Five says they want to do this for the people of Calverton, not to make money," Dahlgren said. "I'm from Calverton and I don't want your help."

A representative of Langan Engineering, CAT's engineering and planning consultants, said the applicant is aware of the grasslands and the other sensitive environmental features of the site, including the Wild Scenic and Recreational Rivers Act designation affecting a portion of the property. He noted that there is a permitting process the applicant will follow at the N.Y. State Department of Environmental Conservation.

"These issues will be addressed," he said.

"How did we get here from where we were?" asked Phil Barbato of Jamesport. "Why did Triple Five sever its relationship with Luminati?" he asked.

"Daniel is still a partner," Bienenstock explained. "We had the majority vote. We took away Luminati's voting rights so that it made it more clear that we are in control," he said. "We're still in a partnership with Daniel Preston and we're going to continue that."

"How much land will be developed? How many buildings will there be? Without a project proposal how can we determine they are qualified and eligible?" Barbato asked.

Elliott Mazzocca of Wading River, owner of Lido Stone, which has been located at EPCAL for 15 years and has grown from a startup to a leading manufacturer of natural stone, also asked for details on how his business will be impacted by the new development.

"Where will the buildings be placed? How will it impact the existing park?" he asked.

"Showing exactly where we'll be building requires a subdivision plan," which does not yet exist, Bienenstock said. The closing won't take place until an approved subdivision is in place. He said CAT will be working with the town to determine what the development is going to look like.

Barbato also asked about new demands for municipal services that will arise as a result of the new development. There will most certainly be impacts and costs, he said. The focus of the presentation has been solely on revenues coming in.

Other speakers, including Chamber of Commerce president and Riverhead IDA board member Bob Kern and Atlantis Holdings executive director Bryan DeLuca, expressed support for the proposal.

DeLuca said downtown is still struggling. "It's time to embrace change. They're making a $40 million investment in the land, after that another $50 million to $100 million. How many people have come with that kind of investment?" he asked. "It's time to embrace them."

Kern called the proposal "a great project" that would help keep the community's younger generation here, after local tax dollars are spent to educate them.

"Think about kids that are not here," Kern said. "They are studying this stuff. They're going to come out with a great education and then leave. The biggest ROI lost in this town is educating these students that leave the town," he said.

Two Luminati Aerospace engineers also spoke in support of the proposal.

"The engineering talent does want to be here and we wish there were more reasons to stay," said Michael Capone.

Mechanical engineer Justin Kornig said his whole family is from Long Island but moved to Florida. He moved here recently for a job at Luminati. "I was told growing up it's a dying island. Everyone who's come up [to speak] tonight - how old are you?" he asked.

"This is the next generation coming up."

The record of the hearing will be held open for written comment until close of business on April 6, Supervisor Laura Jens-Smith announced at the conclusion of the hearing.

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Tech and aviation companies, from Maglev to space rocket developers, say they want to work at EPCAL during hearing | RiverheadLOCAL

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Riverhead officials wrapped up the "qualified and eligible sponsor" hearing on Calverton Aviation and Technology in a five-hour session last night at Pulaski Street School.

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Luminati founder a no-show at Riverhead hearing on EPCAL buy | Riverhead News Review

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Luminati founder a no-show at Riverhead hearing on EPCAL buy | Riverhead News Review

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While Luminati Aerospace founder Daniel Preston was a no-show at Tuesday's qualified and eligible sponsor hearing on Calverton Aviation and Technology's $40 million offer to buy more than 1,600 acres of land from Riverhead Town at the Enterprise Park at Calverton, seemingly everyone else was there.

The Town Hall meeting room was filled beyond capacity, and spilled into the hallway for a hearing that lasted three and a half hours. Calverton Aviation and Technology, or CAT, as they referred to themselves, is a jointly owned venture between Triple Five Real Estate I, LLC, which is owned by the Ghermezian family, and Luminati Aerospace, headed by Mr. Preston. Luminati owns only 25 percent of CAT and Triple Five owns 75 percent.

The makeup of the audience largely included backers of Triple Five, many of whom spoke, union workers who supported the project, people who wanted to see a racetrack built instead at EPCAL and residents who had concerns about the proposed sale and, in particular, about Mr. Preston.

Stuart Bienenstock, director of business development for Triple Five Group, said their primary emphasis of the development will be on aviation, technology and permitted supportive uses. He also said that CAT is committed in their intended development plan to build at least 1 million square feet of commercial and industrial development, and they anticipate building much more space.

"No residential or mall development will take place," he said.

Triple Five brought up close to 20 speakers from companies that have worked with them, some of whom indicated a desire to work for them at EPCAL.

Much of the criticism from speakers was directed at Mr. Preston, who wasn't present.

Former councilwoman Barbara Blass said that when Luminati was subject to a qualified and eligible sponsor hearing in 2015 in regards to a runway use agreement, Mr. Preston said he had commenced work on the researching, developing, testing and manufacturing of unmanned aviation vehicles, which was funded by a Fortune 250 company that made payments as milestones were achieved.

He said 40 jobs would be created immediately and that he had a "dream team" of scientists working on the project.

Ms. Blass asked the board to ask if the Fortune 250 company was still involved, how many milestones were met and how much had they paid, how many jobs were created, and how many members of the "dream team" remained.

Robert Hasday, Luminati's attorney, said people were trying to turn the hearing into a referendum on Mr. Preston.

"This meeting is not about Mr. Preston, it's about CAT," he said. "Mr. Preston doesn't control CAT."

Mr. Hasday said Mr. Preston has "zero control" of CAT.

He said the agreement with the Fortune 250 company, which former Supervisor Sean Walter said was Facebook, ended shortly after that 2015 hearing.

"That clearly had an impact on his plans," Mr. Hasdy said. "So he reduced the size of his workforce and concentrated on getting infrastructure in place. It's in place now. He's invested tens of millions of dollars in equipment and he's started to hire again with the support of Triple Five."

"It would be nice to hear it from him," Supervisor Laura Jens-Smith said.

The hearing will be continued on Tuesday, March 13 at 6 p.m.
Photo caption: The Town Hall meeting room was jam packed for Tuesday's qualified and eligible sponsor hearing on Calverton Aviation and Technology's offer to buy more than 1,600 acres of land at the Enterprise Park at Calverton. (Credit: Kelly Zegers)[email protected]
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Luminati founder a no-show at Riverhead hearing on EPCAL buy

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While Luminati Aerospace founder Daniel Preston was a no-show at Tuesday's qualified and eligible sponsor hearing on Calverton Aviation and Technology's $40 million offer to buy more than 1,600 acres of land from Riverhead Town at the Enterprise Park at Calverton, seemingly everyone else was there.

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Dowling Aviation College To Reopen Under New Owner - AVweb flash Article

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Dowling Aviation College To Reopen Under New Owner - AVweb flash Article

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A Canadian company has bought the bankrupt Dowling College at Long Island's Brookhaven Airport and plans to rebuild the school's aviation academic and technical offerings with a focus on aeronautical engineering. The college's 105-acre campus is adjacent to and has access to Brookhaven's two 4000-foot runways and has a hangar, a dormitory, classrooms and a library. The school was founded in 1968, but lost accreditation in 2016.

A federal judge approved the $14 million sale to Triple Five Group after a public auction last January failed to produce qualified bids. Stuart Bienenstock, Triple Five's director of business development, told the Long Island Business News that the company wants to re-establish the aviation programs in place before Dowling went under.

"We're talking to major educational institutions. We want to expand aeronautical engineering and kick start that in Brookhaven. It's definitely an exciting proposition. The campus is already set up and we can easily build upon that."

Although Triple Five owns a helicopter charter company in Danbury, Connecticut, its major business focus is on retail and entertainment properties. It operates the Mall of America in Minneapolis and has invested in other mall projects.
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A D-Day veteran C-47 sitting quietly at its station in Douglas, GA. Copyrighted photo by Tom Glass.

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is our twice weekly aviation news summary emailed free to subscribers.

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Dowling Aviation College To Reopen Under New Owner

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A Canadian company has bought the bankrupt Dowling College at Long Island s Brookhaven Airport and plans to rebuild the school s aviation academic and technical offerings with a focus on aeronautical engineering. The college s 105-acre campus is adjacent to and has access to Brookhaven s two 4000-foot runways and has a hangar, a dormitory, classrooms and a library.

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Company behind EPCAL purchase offers $14M for Dowling campus | Riverhead News Review

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Company behind EPCAL purchase offers $14M for Dowling campus | Riverhead News Review

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Triple Five Group, which owns a controlling interest in Calverton Aviation & Technology, the company that's hoping to buy 1,640 acres of town-owned land at Enterprise Park at Calverton for $40 million, is now hoping to start another aviation business nearby.

Triple Five Aviation LLC is making a $14 million cash offer for the 105-acre former Dowling College Brookhaven Campus in Shirley, which is being auctioned off in a bankruptcy proceeding.

"This is something that complements what we're doing in Calverton, and it's something that will enhance our vision and overall strategy," said Stuart Bienenstock, Triple Five's director of business development, in an interview.

"We're moving forward with our plans and we're hoping we will get the designation in Calverton," he said. "But in the meantime, that's going to take some time, so while we're going through that process, we want to get started on the Shirley property."

That land is already zoned for what Triple Five wants to do, and has buildings on it, Mr. Bienenstock said.

Because the Calverton land is in an urban renewal zone, Triple Five underwent a "qualified and eligible sponsor" process to prove they have the finances and ability to purchase the land and carry out a development plan for it.

The Riverhead Town Board has completed the hearing process but has yet to rule, as board members said they are awaiting an ethics board recommendation as to whether Councilwoman Jodi Giglio should recuse herself from voting, being that she had met privately with members of Triple Five earlier this year.

Supervisor Laura Jens-Smith said the board is awaiting a recommendation from the ethics board before making a decision on CAT's proposal.

Mr. Bienenstock said the focus on aviation is something new to Triple Five Group, but the team they've assembled to work for the project is very experienced in aviation.

"This is our vision for the region and something that we're serious about," he said. "It's not just this one opportunity in Calverton."

The Shirley purchase is subject to approval by a U.S. Bankruptcy court.

That site reportedly includes a 6,500-square-foot airplane hangar, a 70-room dormitory, an athletic complex, and a a two-building office and classroom complex.
Photo caption: Nader Ghermezian (left) and Stuart Bienenstock of CAT at an earlier qualified and eligible sponsor hearing before the Riverhead Town Board. (Credit: Tim Gannon, file)[email protected]
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Company behind EPCAL purchase offers $14M for Dowling campus

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Triple Five Group, which owns a controlling interest in Calverton Aviation & Technology, the company that's hoping to buy 1,640 acres of town-owned land at Enterprise Park at Calverton for $40 million, is now hoping to start another aviation business nearby.

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Triple Five Lays Out its Tech Pitch for EPCAL | East End Beacon

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Triple Five Lays Out its Tech Pitch for EPCAL | East End Beacon

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3D printed rocket engines, MagLev trains and composite helicopter blades are among the technologies pitched as potential tenants of an industrial park proposed by developers Triple Five Real Estate One, LLC for the Enterprise Park at Calverton at the former Grumman plant in Riverhead Town.

During a nearly five-hour continuation of a qualified and eligible hearing held by the Riverhead Town Board at Pulaski Street School Monday night, representatives of a new Limited Liability Company known as Calverton Aviation & Technology (CAT) pitched their plan to buy 1,643 acres at EPCAL for $40 million and build at least one million square feet of commercial and industrial space at the site, and to spend no less than $1 million to improve the runways there.

Luminati Aerospace, the original proposed buyer, has been drenched in controversy since it first announced plans to buy the majority of the land at EPCAL one year ago. Luminati partnered with Triple Five in late 2017, creating the new company, CAT.

While Luminati has been represented by Triple Five as having a 25 percent ownership stake in CAT, Luminati CEO Daniel Preston did not appear at an earlier Qualified and Eligible hearing Feb. 27 or at Monday night's hearing.

Stuart Bienenstock, the Director of Business Development for Triple Five Real Estate One, said that, since the Feb. 27 hearing, Mr. Preston had been stripped of his voting rights within the company.

While Triple Five Chairman Nader Ghermezian presented a letter from Mr. Preston stating he was aware he wouldn't be a voting member of the corporation, the developers have not yet presented the town with an operating agreement between Luminati and Triple Five, despite repeated requests for that document from the Riverhead Town Board.

"We haven't dismissed Daniel Preston as a partner. We've just taken away his voting rights so that made it more clear that we're in control," said Mr. Bienenstock. "We definitely are still in partnership with Daniel Preston, and we plan to continue to do that.

"We heard you had a problem with him, but you didn't have a problem with us, so we cut him out," said Mr. Ghermezian.

Mr. Bienenstock and Mr. Ghermezian brought numerous potential tenants of their industrial park to the podium to share the details of the work they'd like to pursue at EPCAL. Their presentations were met with a splattering of applause from the crowded auditorium, which included a hearty showing among members of the community and supporters of "Long Island Needs a Drag Strip," who listened patiently to nearly three hours of presentations before asking pointed questions of the applicants.

Max Haot, the founder of video streaming company Livestream, is developing a new company called Launcher, based in the Brooklyn Navy Yard, which is working to build rocket engines using a 3D printer. The rockets, which he'd like to assemble at EPCAL for delivery to NASA launch facilities in other parts of the country, would deliver 300 kilogram satellites to low-earth orbit.

Mr. Haot said the company, which is just beginning its second year in operation, has just begun testing its engine at EPCAL, subleasing temporary space from Luminati Aerospace.

"Our interest in being here is to lease five acres of land and have a larger and more permanent test facility," he said. "We are a startup and we can't promise you the world, but we promise we have credibility and will do everything we can to succeed. We very much believe in action."

Mr. Haot said his company has a ten-year plan to develop their launch vehicle, during which they will employ just 10 people, not all of whom will be based at EPCAL full-time.

"I don't want to tell you we'll be filling up EPCAL, but if you let us be here, we will establish our test site and will eventually establish our manufacturing facility," he said. "It's all about building a community and attracting more startups. You have an amazing asset that will attract industry. Some will succeed. Some will fail, but that's the only that way can you create a base and be assured of creating engineering jobs in the end."

MagLev Strategies founder Jesse Powell said he would like to work at EPCAL to develop freight applications for MagLev technology.

Mr. Powell's father, James Powell, was half of the Brookhaven National Laboratory team that invented MagLev, which uses the power of strong magnets to propel trains at high speed without the friction associated with traditional rail transport.

Jesse Powell told the town board that he believes MagLev rail could revolutionize long haul transport in the United States, delivering freight from Los Angeles to New York in eight hours. He said, using this technology, rail freight companies could charge half as much as long haul trucking companies and still make a profit. He added that MagLev vehicle construction is very similar to the construction of airplane fuselages, and could be aided by composite material companies also looking to work at EPCAL.

The catch, though, is providing the rail network to make such a plan a reality.

"Through the year 2050, the world is going to undergo a huge infrastructure boom of $165 trillion," Mr. Powell told the board. Iif we can deliver the most cost-efficient transportation system, this is a huge opportunity."

He estimated that his project could bring in $150 million in research and development funding over the next 10 years, along with "dozens of high paying local jobs."

Town Supervisor Laura Jens-Smith said she's seen that MagLev projects in the United States in the past have suffered from a lack of funding.

Mr. Powell said he believes the key to success is a public-private partnership.

Max Gross, the Director of Engineering Technology Development at the Composite Prototyping Center (CPC) in Plainview, shared work he's doing, much of which involved Department of Defense contracts, for composite flooring for Navy helicopters, composite heat pump housing, and carbon epoxy rotor blades for counter-rotating helicopter rotors.

He estimated the company could use about 35,000 square feet of space at EPCAL.

Ms. Jens-Smith said she'd heard CPC had been looking to expand in Upstate New York, not on Long Island.

"It's difficult to get the talent," he said of moving upstate.. "The training is not up there. .. We have training for young adults to go into engineering tech."

Town board members asked numerous pointed questions of the developers, on topics ranging from the deed covenant prohibiting commercial use of the runways at EPCAL, as well as Luminati's existing runway use agreement with the town, to financial concerns ranging from whether Triple Five plans to pursue tax breaks to whether they intend to sell any of the property after they purchase it.

"This is something we'd all like to see in Riverhead. People have been trying to make this work here for years," said Ms. Jens-Smith. "We're not just looking for vision. We're also looking for a plan."

Ms. Jens-Smith said that, when projects like this are successful, it's usually because there's one large tenant to support the startups.

"I'm not hearing that large tenant," she said. "What is the plan to attract a large stakeholder?"

Triple Five consultant ​Steven R. Rodgers of EmergenTek LLC, and an expert in best practices in commercialization and manufacturing of advanced materials, had laid out a lengthy presentation on why now is the right time for aerospace at EPCAL, beginning with a story about how the Black Plague lead to more wealth for people who survived the plague, who began wearing linen underwear, which was recycled to paper, which was widely available when Gutenburg invented the printing press, which led to the widespread dissemination of ideas that led to the Renaissance.

"We've been working on this for a month now. We're working with big companies, but it's going to take a matter of digging in big-time once we get the green light for projects," said Mr. Rodgers.

"Luminati has tried for a year and not been successful," said Ms. Jens-Smith.

"There's a big difference between the resources of Luminati and the resources of Triple Five," said Mr. Rogers.

Triple Five World Wide, the parent company of Triple Five Real Estate, is the developer of the Mall of America in Minnesota and the West Edmonton Mall in Alberta, Canada, and also has companies involved in everything from manufacturing of garbage trucks to industrial manufacturing and biotechnology.

Triple Five Chairman Nader Ghermezian told the town board that, as far as property tax breaks, "We are going to apply for what is legally available and what is allowed."

He added that his company has an A-rating with corporate finance institutions and will have no trouble financing the project.

When pressed by the board, Mr. Ghermezian offered to put turf fields and pay for half the lighting at two town parks, at a cost of $2.5 million, "as an indication of good faith, providing we get unanimous approval."

Councilwoman Jodi Giglio asked repeatedly for clarification on what will happen with Luminati Aerospace's runway control agreement with the town, and asked the applicants if they understood that the runways could not be used for commercial aviation activities, including uses such as a FedEx depot or a site for landings of chartered planes and helicopters.

"We are not going to build a shopping center or housing" at EPCAL, said Mr. Ghermezian. Mr. Bienenstock said he believes Luminati's runway control agreement can be cancelled if the land is sold to CAT.

Several community members also asked pointed questions, while a few more expressed support for the project.

"I would really like to jump on this bandwagon... but details matter," said Larry Simms of South Jamesport. "Two things still cause me great concern."

Mr. Simms said he believes Luminati's runway control agreement is problematic and "far from resolved."

"Luminati is the entity that has control of the runway to 2025, with two unilateral options to extend to 2045. There is no doubt they are in control," he said.

He added that, without town officials seeing the operating agreement between Luminati and Triple Five, "this is a crapshoot."

Bryan DeLuca, whose Atlantis Holdings operates the Long Island Aquarium and Exhibition Center in downtown Riverhead said he thinks "this is a transformative project for Riverhead and the East End."

"I think it's a fantastic opportunity," he said. "It's time to embrace change. Forty million dollars is just the cost of the land. I don't know how many suited developers have come your way."

Mr. DeLuca added that his son is studying engineering at SUNY Binghamton, and he doubts he will return to Long Island without engineering jobs here.

"Main Street is still struggling. There are more vacancies on Main Street since I started 13 years ago," he said. "Embrace them. Don't let the opportunity pass us by."

Bob Kern of the Riverhead Chamber of Commerce was on the town committee that had examined a prior proposal to build an indoor ski mountain at EPCAL.

"Eighty to ninety percent of those jobs would have been minimum wage," he said. "It never would have been sustainable."

"We've got some rock stars here tonight," said Mr. Kern, then asked a man with an iPad set up on a tripod near the podium: "Are you livestreaming? That guy invented it," pointing to Mr. Haot.

"The kids are not here, but they are studying this stuff. They are apolitical," said Mr. Kern. "They can come out of here with a great education and just leave. The biggest return on investment lost in this town is educating these students, who leave town. A project like this solves a big part of that problem."

Phil Barbeto of Aquebogue asked why CAT needs to subdivide the property if they are developing the whole thing, and questioned whether they plan to sell some of the lots. He added that, with increased development would come increased demand for services, road improvements, and staff in the school and at town hall.

"If anyone still believes, in this day and age, that more development means less taxes, you're in the wrong place," he said.

Mr. Bienenstock said the subdivision plan is required as a condition of closing on the property.

"We have no plans to sell off the lots separately," he said.

Riverhead resident Matthew Stadler runs Stony Brook University Small Business Development Center's technology entrepreneurship program.

He said the university has four separate incubator facilities, and works with 70 tech companies.

"It's not enough. I'm proud of what the university has accomplished, but it is one component of the ecosystem, not the whole ecosystem," he said, adding that, while the university has an incubator at Calverton, it's currently difficult to get entrepreneurs interested in coming out east to work here.

"There needs to be other activity and growth," he said. "It's not enough to get a whole ecosystem going.....It's not a slam dunk. It's not easy."

"You're asking the right questions," he told the board. "I think the other areas that I've witnessed transform have managed to keep their identity. You guys can do it too."

The board held the public hearing open for written comment to April 6 at 5 p.m. Documents submitted by CAT as part of the Qualified & Eligible process are online here.

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Triple Five Lays Out its Tech Pitch for EPCAL

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3D printed rocket engines, MagLev trains and composite helicopter blades are among the technologies pitched as potential tenants of an industrial park proposed by developers Triple Five Real Estate One, LLC for the Enterprise Park at Calverton at the former Grumman plant in Riverhead Town.