NEW ROCHELLE, NY -- Five months after the New Rochelle City Council selected Good Profit Works as the winner of a Requests for Proposals (RFP) for the New Rochelle Armory and two weeks after New Rochelle Mayor Bramson announced a hard deadline of February 28, 2013, Good Profit Works failed to produce a signed Letter of Agreement or a $50,000 escrow payment required under terms of resolution passed by the Council in November.
The matter came to a head at the City Council meeting on February 12th after a January story by Talk of the Sound which was first to report that Good Profit Works had never signed the deal sheet they were offered by the City last fall.
Good Profit Works had proposed a combination farmers market and restaurant.
The RFP distributed last May originally called for a Memorandum of Understanding (MOU) to be signed by the winning bidder. There were two bidders, Good Profit Works and the Veterans Memorial Center for the Performing Arts.
The failure of the Good Profit Works deal is a another defeat for New Rochelle Mayor Noam Bramson who had been the catalyst for the Good Profit Works bid for the armory in a move which was widely perceived as an attempt to prevent New Rochelle Veterans from moving forward with their own proposal for the Armory and surrounding property.