LOCAL LAW NO. - 2025
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LOCAL LAW AUTHORIZING THE CONVEYANCE OF THE FORMER PUBLIC SCHOOL #12 TO DAR HOLDINGS 164 LLC FOR THE REDEVELOPMENT OF SAID PROPERTY
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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Section 37 are hereby superseded to the extent herein, provided as follows:
DAR HOLDINGS 164 LLC, 10075 (hereinafter referred to as "DAR HOLDINGS") has expressed an interest to the City of Yonkers in redeveloping the former public school # 12 located at 164 Ashburton Avenue, Yonkers, New York, and identified on the Official Tax Map of the City of Yonkers as Section 2, Block 2041, Lot 38 (hereinafter the "Premises"), 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 DAR HOLDINGS for the sale and development of the Premises which is planned 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 redevelopment of this property as stated hereinabove would be in the best interest of the City.
Section 2. The consideration for this sale will be Five Hundred Thousand Dollars ($ 500,000.00), subject to the following express terms and conditions:
1. The property and all improvements situated thereon shall be
conveyed on an "as is" basis.
2. DAR HOLDINGS shall deposit the sum of Fifty Thousand Dollars ($50,000.00) as an initial deposit upon its execution of the contract of sale.
3. DAR HOLDINGS shall be required to pay all applicable city and state transfer taxes.
4. The Mayor or his authorize...
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