NY A07302

Establishes the Eastchester Creek Intermunicipal Economic Revitalization Agency as a community development body serving the City of Mount Vernon and Village of Pelham Manor, with powers for urban renewal and economic development projects

Defines the revitalization area as approximately 231 acres in Mount Vernon (bounded by Sandford Boulevard, New York City, South Third Avenue, and the Hutchinson River) plus a triangular portion of Pelham Manor between the Hutchinson River, Hutchinson River Parkway, and New York City

Agency membership consists of the mayors of Mount Vernon and Pelham Manor, with operations governed by an intermunicipal agreement between the municipalities

Limits the agency's property acquisition powers (including condemnation) to within the defined revitalization area and requires deference to each municipality on zoning, land use, and regulatory matters

Authorizes Pelham Manor to impose additional sales and compensating use taxes within its portion of the revitalization area to equalize tax rates with Mount Vernon's rates