County Executive Mangano called the current slated project, that would mean a state of the art arena, minor league ballfield and “Hub” for Nassau County, “the real deal.” The 400 million dollar project would mean thousands of temporary and permanent jobs for the economically-challenged Nassau County. Mangano would establish a countywide public referendum on August 1st, and if embraced, would start construction of the new sports destination in 2012. The arena to be open on or before the 2015 lease the Islanders have with the county is up.
Mangano explained, that the 400 million dollar expense would be repaid by a revenue sharing agreement between the county and operators of the venue. So, Charles Wang would pay for the $350 million dollar arena and the remaining $50 million would be repaid by the owner of the baseball field and additional projects that are built. Credit Dee Karl for the question of how the funds would be appropriated and who would really be paying for the Colisieum after all is said and done.
The casino, which was previously discussed, is now said to be in the planning stages. If an agreement is reached with the Shennicock nation, it will be built at the Belmont Park facility. Sales tax and revenue generated by the facility, Mangano said, would far exceed the cost put forth to build it. “The intention and plan is for this to not cost the taxpayers a dime.” He went on to say that he called on the “residents to invest in their county.”
While Supervisor Kate Murray was welcomed to a chorus of expected boos, Mangano spoke on her behalf, giving her credit for assisting in the negotiation of the new project and called her a supporter. “I’m an Islanders fan, not a Ranger fan,” she said. She added that the town was “flexible” when it came to the project and that zoning could be worked out for the current billet and that of the remaining 77 acres of the Coliseum property.
Charles Wang emerged to a well deserved cheer. He spoke of a partnership of the Islanders and Nassau County that would last until 2045 and commented on his vision of building a premiere destination for Long Island. He also added that there is no reason for the Islanders or Long Island to take a back seat to anyone else. When asked about the Light House Project, he quickly deflected and put the focus back onto the current project.
In addition, he reiterated what this writer has said all along about his commitment and spirit of ownership, “Our commitment to Long Island has never wavered.” He inferred that the new arena might lend “stability” when attracting possible free agents to play there. When asked what the new arena might mean for the Islanders, his answer was "Hope."
Thank you Mr. Wang.
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