The market had been trying to negotiate a short-term lease extension while considering a possible relocation west of the Hudson River.
The agreement requires /*Hunts Point Terminal Produce Cooperative*/ to negotiate exclusively with the City for the next nine months in hopes of coming to a long-term solution.
"Our Administration and the Co-op both want that to be built in the Bronx, and in the coming months, we will continue working together to make it happen," Mayor Michael Bloomberg said in a written statement.
Hunts Point first opened in 1967. Its members have been seeking to build a larger, more efficient and modern facility better-suited for refrigeration.
