BUFFALO, N.Y. (WKBW) Earlier this year, the Niagara Frontier Transit Authority decided it would sell 384 acres of waterfront property that they have owned for 55 years.
The area included the NFTA small boat harbor, vacant land, and Gallagher Beach.
After a RFP (Request for Proposal) period that lasted several weeks, the NFTA received only one joint proposal.
It comes from the Erie Canal Harbor Development Corporation and the City of Buffalo.
Under the joint proposal, the Erie Canal Harbor Development Corporation will acquire title to the property, while the City of Buffalo will enter into an agreement to help maintain and develop the waterfront area.
The NFTA Board of Commissioners will review the proposal after the first of the year, with hopes of making a final decision about the property by February 2013.
While details about the proposal are not being disclosed until after it is reviewed by the NFTA, Erie Canal Harbor Development Chairman Robert Gioia said Buffalo can expect "mixed-use with significant public access."