LOCAL LAW
BY COUNCIL PRESIDENT COLLINS-BELLAMY, MAJORITY LEADER RUBBO, MINORITY LEADER BREEN, MAJORITY WHIP NORMAN, COUNCILMEMBERS DIAZ, PINEDA-ISAAC AND HODGES.
LOCAL LAW AUTHORIZING THE CONVEYANCE OF THE FORMER PUBLIC SCHOOL #9 FOR THE REDEVELOPMENT OF SAID PROPERTY
Be it enacted by the City Council of the City of Yonkers, as follows:
Section 1. General City Law Section 23 and Second Class Cities Law
Section 37 are hereby superseded to the extent herein, provided as follows:
SHIA FREUND and MOSHE BLUM or an limited liability corporation controlled by Freund & Blum (hereinafter referred to as "Freund & Blum") have expressed an interest to the City of Yonkers in rehabilitating the former public school # 9 located at 53 Morningside Avenue, Yonkers, New York, and identified on the Official Tax Map of the City of Yonkers as Section 2, Block 2163, Lot 23 (hereinafter the "Subject Property"), and which property is not currently being used nor has it been designated for specific use in the future nor can it be utilized by the City of Yonkers for its intended municipal purpose and is thereby considered surplus; and
The City Council of the City of Yonkers hereby authorizes the Mayor to execute a contract of sale containing substantially the same terms and conditions as set forth below with Freund & Blum for the sale and development of the Subject Property which is to be redeveloped to residential housing (the "Improvements"). The terms and conditions as set forth below are hereby approved by the City Council, as the development of this property as stated hereinabove would be in the best interest of the City.
Section 2. The consideration for this sale will be Three Million Two Hundred Thousand Dollars ($ 3,200,000.00), subject to the following express terms and conditions:
1. The Subject Property and all improvements situated thereon shall be conveyed on an "as is" basis.
2. Freund & Blum shall deposit the sum ...
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