City Council:
AN ORDINANCE AUTHORIZING THE COMPTROLLER
TO ESTABLISH A CUSTODIAL ACCOUNT - STATION
PLAZA DEVELOPMENT PROJECT, 20 SOUTH WEST STREET
Whereas, in correspondence dated March 5, 2026, the Legislative Assistant to the Mount Vernon City Council formally requested authorization for the Comptroller to establish a custodial account for the development project known as Station Plaza, located at 20 South West Street, Mount Vernon, New York, for the purpose of receiving and administering funds deposited by the developer in connection with the City's review of the project; and
Whereas, the City Council of the City of Mount Vernon has been informed of a proposed development project known as Station Plaza, located at 20 South West Street, Mount Vernon, New York, consisting of a thirteen (13) story tower on a podium mixed-use building; and
Whereas, the developers of the Station Plaza project are required to submit applications, make presentations to the City Council, and undergo various municipal reviews and approvals prior to proceeding with the project; and
Whereas, the City customarily requires the establishment of custodial or escrow accounts in connection with development projects in order to ensure that funds are available to reimburse the City for professional review services, including but not limited to legal, planning, engineering, and other consultant fees incurred by the City in connection with such applications; and
Whereas, the Office of the City Comptroller has requested authorization to establish a custodial account for the Station Plaza development project for the purpose of receiving and managing funds associated with the City's review and administration of the project; and
Whereas, the custodial account will serve as a holding account for funds deposited by the developer until such time as the developer completes the required presentations to the City Council, submits the necessary applications, and...
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