City Council authorizes amendment to allow lease extension for Coney Island amusement parks, businesses

City Council voted Wednesday to authorize a new amendment that allows for a lease extension for the amusement parks and boardwalk businesses in Coney Island.

News 12 Staff

Dec 16, 2021, 1:44 AM

Updated 858 days ago

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City Council voted Wednesday to authorize a new amendment that allows for a lease extension for the amusement parks and boardwalk businesses in Coney Island.
The deal was reached after months of negotiations to help “the people's playground” recover from the pandemic. Deno's Wonder Wheel Park and Central Amusements International, the company that operates Luna Park on city-owned land and subleases properties to boardwalk businesses, both got 10-year extensions.
The lease would expire in 2037. The amendment was put forth by the Economic Development Corporation, who told News 12 in a statement, "The amendment will help small businesses on Coney Island's historic boardwalk. The resulting lease and sublease extensions will afford them greater stability, enable them to better recover from the pandemic, and help them engage in long-term investments beneficial to the Coney Island community."
Tom's Coney Island owner Jimmy Kokotas says this has been a big help for him and the four other businesses who can now resign their lease with CAI.


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