The New Rochelle Industrial Development Agency (IDA) and Corporation for Local Development (CLD) held a meeting on September 24, 2025, addressing key resolutions and administrative matters.

During the IDA session, the board unanimously approved a resolution concerning CH New Rochelle LLC, which operates a mixed-use facility at 111 Center Avenue. This approval was necessary due to a change in the ownership structure of the project, which was completed and operational since 2020. The board confirmed that this administrative change would not provide any additional benefits from the IDA, and the finance subcommittee had already reviewed and supported the proposal.

Additionally, the board discussed the timeline for upcoming housing construction, indicating that it is expected to begin in the fourth quarter of 2026. The urgency for housing development was emphasized, with board members expressing the need for swift action.

In the subsequent CLD meeting, the board approved the minutes from the previous meeting and discussed a marketing budget amendment. A resolution was passed to transfer $10,000 from the corporation's fund balance to enhance the marketing budget. This funding aims to support community initiatives and partnerships, including events organized by the NAACP and the Urban Land Institute, thereby strengthening the CLD's visibility and leadership in local development.

Both meetings concluded with the scheduling of the next session for October 29, 2025, at 7:30 PM, and the board members expressed their commitment to advancing New Rochelle's development goals.