TROY – The City Council voted 6-1 Thursday night to have the Troy Local Development Corp. handle the negotiations with a New Jersey firm to make the fifth attempt to develop the 1 Monument Square site that’s been vacant since 2011.

The vote came after the council voted unanimously to amend the ordinance to require any money resulting from the sale of the 1.1-acre property to Hoboken Brownstone Company go to the city’s general fund.

The option approved by the council members is to reassure Hoboken Brownstone that it will have the rights to develop the former City Hall site and opens the way for the company to invest in designing its plans for an envisioned $30 million a mixed-use project expected to be completed in June.

Previously when the council gave its first round of approvals at a November Finance Committee meeting, Sumeet Gupta of Hoboken Brownstone said by TLDC holding the property it will permit his company to wrap up negotiations with the city on the land development agreement.

Four attempts to develop the parcel between River Street and the Hudson River have failed. Mayor Patrick Madden opted to use a new development process that would emphasize involving the public early on in determining what sort of project should be built. The previous projects failed when public opposition mounted at the end of the planning process.

Steven Strichman, city commissioner of planning and economic development, told the council there are no details for the project at this time as the plans have not been done.

Council President Carmella Mantello cast the lone negative vote against transferring the option controlling the site to the TLDC, which Madden controls through his appointment of its five members. Mantello questioned whether the city’s apprenticeship program for public projects and prevailing labor wages on public projects would be enforced.

TLDC attorney Justin Miller advised the council that on the public portions of the project, such as roadwork, the garage and other publicly funded aspects, these requirements would have to be met. On private portions of the project, this would have to be discussed with the developer but not be guaranteed to occur.

The city selected Hoboken Brownstone as the developer for the site in July. Its representatives estimated that making an investment of at least $30 million would lead to the construction of retail, apartments and offices. It also will include a public parking and public amenities that include a connection from River Street to Riverfront Park.

While the city has sought to sell the site to the developers for the past four failed projects, this time it may accept the value of public amenities from Hoboken Brownstone in lieu of cash.