Board of Estimate & Contract:
RESOLVED, that an Ordinance adopted by the City Council on November 25, 2025, and signed by the Mayor on November 26, 2025, authorizing the City Comptroller to Establish a Custodial Account for the Development Project Located at 115 MacQuesten Parkway - (funds deposited into the custodial account shall be disbursed solely for payments owed to Labella Associates Inc. for services rendered in accordance with Proposal P2505704.01 and the terms of Exhibit A); be, and the same is hereby approved.
City Council:
AN ORDINANCE AUTHORIZING THE CITY
COMPTROLLER TO ESTABLISH A CUSTODIAL
ACCOUNT FOR THE DEVELOPMENT PROJECT
LOCATED AT 115 SOUTH MACQUESTEN PARKWAY
Whereas, in correspondence dated November 19, 2025, the Commissioner of the Department of Buildings formally requested authorization for the Comptroller to establish a custodial account for the development project located at 115 South MacQuesten Parkway, Mount Vernon, New York; and
Whereas, the City Comptroller requires authorization from the City Council to establish custodial accounts for the proper management of funds related to development projects within the City of Mount Vernon; and
Whereas, the developers of the property located at 115 South MacQuesten Parkway are required to fund the City’s construction inspection services during the construction phase of the project; and
Whereas, Labella Associates Inc. has been engaged to provide construction inspection services as set forth in its proposal, P2505704.01, dated November 11, 2025, and executed on November 17, 2025, in accordance with the terms and conditions contained in Exhibit A; and
Whereas, the custodial account is necessary to ensure the timely and proper payment of inspection services, to maintain compliance with City requirements, and to support an aggressive construction schedule; and
Whereas, the applicant/owner of the project is 115 MacQuesten Development LLC, with Dan Brenner serving as Authorized Signatory, located at 1228 Euclid Avenue, 4th Floor, Cleveland, OH 44115; and
Whereas, the custodial account will remain active until all construction inspections have been successfully completed and final inspection reports have been submitted to the City’s Building Department; now therefore,
THE CITY COUNCIL OF THE CITY OF MOUNT VERNON HEREBY ORDAINS:
Section 1. Authorization to Establish Custodial Account. The City Comptroller is hereby authorized and directed to establish a custodial account for the development project located at:
115 South MacQuesten Parkway, Mount Vernon, New York.
Section 2. Purpose of Account. The custodial account shall serve as a holding account to receive funds from the project developer for the payment of construction inspection services performed by Labella Associates Inc. throughout the construction phase.
Section 3. Disbursement of Funds. Funds deposited into the custodial account shall be disbursed solely for payments owed to Labella Associates Inc. for services rendered in accordance with Proposal P2505704.01 and the terms of Exhibit A.
Section 4. Duration of Account. The custodial account shall remain active until the developer fully completes all required construction inspections and the Building Department receives all final inspection reports.
Section 5. Effective Date. This Ordinance shall take effect immediately upon adoption by the City Council and subsequent approval by the Board of Estimate & Contract.