Westchester County legislators unanimously approved a deal Monday night to let private management company Standard Amusements invest $25 million into Rye Playland and operate the park for 15 years.

Earlier this year, Westchester County Executive Rob Astorino reached a deal to have Standard Amusements invest into the county-owned, 87-year-old park during the first five years of the 15-year agreement.

Under the approved plan, Standard Amusements will pay Westchester County more than $2 million upfront, $300,000 more annually, and 7.5 percent of profits once it recoups its initial investment. At least part of the park will remain open year-round under the deal.

New rides are expected to be added to the park and old ones will be restored. Restaurants will also receive upgrades and the park's marketing will be given a boost.

Democratic Legislator Catherine Parker represents Rye and says the new deal will benefit Westchester families and employees. "It will continue to be a good arrangement for county employees, and they will be protected; we made sure of that," she said.

Standard Amusements has until Oct. 31 to finalize its deal, which would ideally keep Playland running for generations to come.