New Rochelles Public Works facility, City Yard, has been located on Echo Bay for generations. The presence of sanitation vehicles and equipment at this site has been the primary obstacle to redevelopment of our waterfront. Several years ago, the City commenced a search for an appropriate and affordable relocation site for City Yard, ultimately settling upon a multi-acre parcel in the West End, just off Beechwood Avenue and underneath I-95. Since then, we have negotiated with the owner of this site to reach a fair purchase agreement. In recent weeks, these negotiations came to a successful conclusion, and just last night the Council authorized the issuance of bonds to cover the $5 million cost of the land. It is important to note that the City hopes and intends to recapture the price of the land and of construction of the new City Yard through the eventual proceeds of development on the waterfront. On a parallel track, the Department of Development has invited waterfront planners to submit qualifications so that a private sector partner can be selected to help us create and implement designs for a new, publicly-accessible shoreline. We anticipate a mix of commercial, residential, and recreational uses, with significant open space and water views. The interest in the development community has been very substantial and bodes well for the future. Together, these are major steps in the Citys ongoing effort to realize the untapped potential of our waterfront, and I look forward to more visible progress in the months and years ahead.