Forest City Ratner Companies L.L.C. will pay $200,000 to settle claims it illegally installed and operated parking meters at Ridge Hill shopping center in Yonkers.
Brooklyn-based Forest City will pay $154,000 to the office of state Attorney General Eric T. Schneiderman, which will turn the money over to the city of Yonkers, the attorney general announced today. The developer will also set up a $50,000 account in settlement of a class action lawsuit from customers who paid the unauthorized parking meter fees. Any leftover funds in that account after a year will be paid to Yonkers, Schneiderman said.
“Like everybody else, real estate developers must follow the law, and I appreciate their cooperation in resolving this matter,” the attorney general said.
Forest City installed 113 parking meters on the streets of the Ridge Hill complex and operated the meters from October 2011 until January 2013, according to a press release from the attorney general”™s office.
The developer also issued parking tickets for expired time and illegally directed motorists to send their payment to the “Parking Authority.” As part of the agreement, Forest City will refund $981 to the 31 motorists who paid parking fines.
The meters were not authorized by the Yonkers City Council as required by state law, but the developer fought attempts to have the meters removed until earlier this year. Schneiderman said that during the time the meters were operational, the net revenue for the developer was $204,000 which is the full amount the company will pay in the settlement.
Ashley Cotton, senior vice president, said the company was pleased to have the issue resolved. “While we believed the meters to be authorized as part of the original, approved project plan, it has been determined that all appropriate procedural requirements were not met to authorize the installation,” she said. “We respect this process, remain committed to being a good neighbor and are ready to move forward.”
Note: This article was updated from its original version to incorporate the statement of Forest City Ratner’s senior vice president.
