The Westchester County Board of Legislators unanimously approved a bill Monday night to privatize management of Playland amusement park in Rye, which the county has owned and operated for nearly 90 years.
The 15-year management agreement with Standard Amusements LLC, a privately held company run by Harrison native Nicholas Singer, will go into effect this year.
- Playland amusement park in Rye.
Standard Amusements will now begin co-managing Playland with the county for the remainder of the 2015 season, which runs through Sept. 7. Following the co-management period, Standard will have until Oct. 31 to finalize the deal and begin independently managing the park.
“After a historic 87-year run of creating wonderful experiences and memories for generations of Westchester families, this vote puts Playland on firm footing to carry on for another 87 years in that mission,” said Board of Legislators Chairman Michael Kaplowitz.
The county will receive an upfront payment of $2.25 million from Standard Amusements, and Standard will then be required to make an additional $22.5 million in capital improvements to the park over the next five years.
Standard”™s capital plan for the Rye amusement park calls for $5 million on new rides, $4.5 million on the pool and new water attractions, $2 million for the restoration of historic rides, $2.5 million for food stands and $1 million to renovate bathrooms in the bathhouse.
Under the agreement, the county would share in 7.5 percent of the profit from Playland operations after Standard recoups its initial investment. Standard will pay Westchester an annual $300,000 management fee that will increase by approximately 2 percent each year.
Westchester County Executive Robert P. Astorino said after the vote he was anticipating a bright future for the 280-acre amusement park.
“This deal meets our three goals for preserving Playland by reversing the losses for taxpayers, putting the park in the hands of a top-flight operator and revitalizing Playland as a must-visit destination for families for years to come,” he said.
The Board of Legislators held two public hearings on the plan in May and June, where county residents voiced opinions on issues such as job security for Playland employees and financial and attendance reporting to the Board of Legislators from Standard.
