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Title:
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Planning / DPW/Transportation - Enter into an intermunicipal agreement with the City of Yonkers, pursuant to which the County shall (i) contribute up to $15,000,000 to finance the construction of upland site work improvements to create a riverfront park on the Hudson River, in the Ludlow section of Yonkers ("Park" or "Fernbrook/Ludlow Waterfront Park"), including, but not limited to, remediation work and (ii) lease the Park from the City for the term of the IMA; and be it further that the Park shall be comprised of certain riverfront properties owned by the City located on Water Grant Street, Pier Street and Yerks Place, Yonkers, NY and the term of the IMA shall commence upon the start of construction of the upland site work improvements on the Park and continue for the life of the bonds which is anticipated to be fifteen (15) years, unless the agreement is terminated sooner in accordance with the terms of this agreement.
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