Board of Estimate & Contract:
RESOLVED, that an ordinance adopted by the City Council on June 11, 2025, and signed by the Mayor on June 12, 2025, approving the Establishment of a Custodial Account for the Property Development Project Located at 55 Pondfield Parkway) - (the custodial account shall be used exclusively for holding funds associated with the project at 55 Pondfield Parkway. Funds deposited shall be used solely to cover application fees, attorney fees, and other city requirements, as necessary, until the developer completes the required City Council presentation and all applications have been submitted); be, and the same is hereby approved.
City Council:
AN ORDINANCE AUTHORIZING THE
ESTABLISHMENT OF A CUSTODIAL ACCOUNT
FOR THE PROPERTY DEVELOPMENT PROJECT
LOCATED AT 55 PONDFIELD PARKWAY
Whereas, in correspondence dated June 9, 2025, Councilwoman Gleason formally requested authorization for the Comptroller's Office to establish a custodial account for the property development project at 55 Pondfield Parkway in the City of Mount Vernon; and
hereby authorizes the Comptroller's Office to establish a custodial account for the property development project at 55 Pondfield Parkway in the City of Mount Vernon
Whereas, the City Council of the City of Mount Vernon recognizes the need to support the management of funds for development projects to ensure proper compliance with city requirements; and
Whereas, the Comptroller's Office has requested authorization to establish a custodial account for the property development project located at 55 Pondfield Parkway; and
Whereas, the property located at 55 Pondfield Parkway consists of a 20,000 square foot lot, and the project entails the demolition of an existing 100-year-old house and the subdivision of the lot into two 10,000 square foot lots for the construction of two new single-family dwellings; and
Whereas, the applicant for this project is MAD Real Propertie...
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