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Yesterday, MTA Metro-North Railroad announced it signed an agreement with the city of Poughkeepsie, N.Y., to explore transit-oriented development in and around the city's train station.

The signing of a memorandum of understanding lays the groundwork for a project designed to provide easier access to trains and the riverfront, add recreational opportunities, help spur business and economic growth, and create diverse and attractive residences, Metro-North officials said in a prepared statement.

The first part of the study, an economic analysis slated to begin this summer, will be funded by the New York Department of State through a Smart Growth grant. Later in the year, Metro-North and the city will develop a conceptual plan for the station area, railroad officials said.