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Standard Amusements LLC is asking a federal court to reinstate a contract that was terminated May 28 by Westchester County that allowed it to take over operation of Playland.
Standard Amusements stated in the filing that it has spent more than $9 million under the agreement regarding Playland, including certain nonrefundable deposits paid to the county, without receiving a dollar in return on its investment.
The company accused the county executive of mismanaging the park, refusing to negotiate, disregarded $20 million in increased funding, and consistently pursuing a path to litigation.
The name Element 46 was chosen, in part, because the 46th element in science’s periodic table of elements is Palladium, which happens to be a catalyst.
The county invoked a performance bond and demanded that International Fidelity Insurance Co. make up the difference.
“Restaurants are so much a part of the fabric of our communities, bringing new life into neighborhoods and cities,” Janet Crawshaw told the guests at the kickoff event. “Restaurateurs bring us great food, but you’re also leading the revitalization of our valley.”
The report from Citizen Budget Commission argues state and local municipalities have spent more on economic development initiatives without enacting meaningful transparency reforms around the grants and tax breaks.
The state's approval comes weeks after the utility called for a moratorium on new natural gas hookups for most of its Westchester territory starting March 15.