CBA-RP056-Playland Infrastructure, Rides and Site Work

This item authorizes amendments to the 2025 Operating and Capital Budgets, along with a bond act amendment, to address the resolution of a dispute with Standard Amusements LLC regarding Playland. The arbitration determined that the County validly terminated the management agreement on February 22, 2025, and that Standard Amusements was entitled to liquidated damages. The County has made payments totaling $36,000,000 towards these damages. A remaining balance of $519,294 is owed for interest.

Key Financial Adjustments:

• Operating Budget Amendment: Increase appropriation for interest cost by $519,294 and decrease appropriation for capital cost of RP056 by $27,710,000, for a net reduction of $27,190,706.
• Capital Budget Amendment: Increase appropriation for RP056 (Playland Infrastructure, Rides and Site Work) from $12,000,000 to $39,710,000, an increase of $27,710,000.
• Bond Act Amendment: Increase the amount of bonds authorized by Bond Act No. 83-2025 from $36,000,000 to $36,519,294 to finance the liquidated damages and interest.

The Planning Department has determined that these financial amendments do not constitute an "action" under SEQR, thus no environmental review is required. The Committee recommends approval, noting that an affirmative vote of two-thirds of the Board of Legislators is required for the Capital Budget and bond act amendments.