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August 1, 2011
Residents Divided Over New Nassau Coliseum Proposal
CBS New York
Hey, just what Nassau County taxpayers need! A $400 million "investment" in a hockey arena.
Monday’s special election will decide the fate of the project. Voters will decide if the county should borrow $400 million for a new Nassau Coliseum and a minor-league baseball stadium.
Islanders’ owner Charles Wang says he’ll move the team without a new arena.
There's a threat.
“Nassau County is effectively bankrupt. They have too much debt. They can’t pay their bills. So it flies in the logic of them going to borrow $400 million to build a stadium,” said Clifford Sondock of the Land Use Institute.
The plan with interest would cost each homeowner about $58, though County Exec. Ed Mangano estimates it will cost homeowners $13.80, based on revenue sharing from sales, hotel and entertainment taxes, and the creation of more than 1,500 construction jobs and 3,040 permanent jobs.
Hmm, these promises seem vaguely familiar.
“I’m a resident in East Meadow, near the coliseum, love hockey, I don’t want to pay for it,” said resident Irwin Kahn.
Posted by eric at August 1, 2011 10:03 AM