Under the deal, KNIC will spend $250,000 to create a fund to pay for traffic improvements and a study of traffic conditions. The developer also will pay $150,000 for uniform signs along Kingsbridge Road and $25,000 for a campaign to encourage people to take public transportation to the ice center.

In response to the project's final approval, Mayor Michael Bloomberg says, “Today's City Council vote, the result of years of collaboration and perseverance among our administration, local elected officials, and the Bronx community, will bring an iconic Bronx landmark back to life. What is now an abandoned structure will soon become the world's largest indoor ice rink facility, and it will serve as yet another example of our administration's commitment to turning what were once symbols of New York City's decline—McCarren Park Pool, High Bridge, the High Line, and more—into community treasures and international attractions.

“Once complete,” he continues, “the Kingsbridge National Ice Center will be a world-class destination that will attract millions of residents and visitors alike, provide new recreational and instructional opportunities for young people, and bring critical jobs and economic activity to a neighborhood that is in need of both.”