Launches Environmental Review of Project
On Tuesday, New Rochelle took a giant step toward the redevelopment of the Echo Bay waterfront by approving a Memorandum of Understanding (“MOU”) with Forest City Residential. Among other things, this agreement lays out the project scope and features, establishes responsibilities and benchmarks for the City and the developer, and creates a framework for future financial transactions. The full text of the MOU is available for download.
The City also voted to launch a detailed environmental review of the project, a process that will take approximately 18 months and will include ample opportunities for public review and comment.
It is especially encouraging that the MOU was adopted by a bipartisan six-to-one super-majority of the City Council, signaling that support for this essential project transcends political divisions.
Finally, the Journal-News wrote an outstanding editorial, lauding the great benefits of the Echo Bay initiative and supporting our efforts to reclaim the waterfront for the public’s use and enjoyment.