Rye Playland will open this weekend for the season as Westchester County legislators look at a new proposal to give the historic amusement park a face lift.

Playland is one of the few parks in the nation that are owned and operated by a local government. It's been losing between $3 and $5 million annually, with the number of visitors dropping every year.

There is a $25 million plan on the table to try and turn the 87-year-old park around.

Westchester County Executive Rob Astorino says a proposed deal with New York-based Standard Amusements will turn the park around by bringing in new rides, restoring some of the historic ones, and upgrading the restaurants. "They're gonna put their own money behind this, so taxpayers don't have to," says Astorino

Under the five-year plan announced last month, Standard Amusements will pay Westchester County more than $2 million upfront, $300,000 more annually, and 7.5 percent of profits once they recoup their initial investment. The deal would also keep at least part of the park open year-round.

A similar proposed deal with a different group fell through last year.

The new deal must still be approved by the county legislators.