Yonkers Mayor Phil Amicone formally signed an agreement for one of the biggest development projects that the city has ever seen.

Amicone, along with three high-profile developers, inked a deal to put more than $3 billion into revitalizing the downtown district. The plan includes a minor league baseball stadium at Chicken Island, residential housing units and stores. Amicone says the project could be the solution to the city?s annual education funding crises because the tax base would soar.

The project must still get through a zoning change and expanded environmental review. There are also concerns that the city?s skyline will be adversely affected. And residents say there is a need for affordable housing. The developers are promising to address those issues as well.