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Nassau County, Islanders unveil plans for new arena by The Sports Network
Mineola, NY (Sports Network) – A new arena for the New York Islanders is at the heart of a development plan announced Wednesday.
Islanders owner Charles Wang was among those to announce what the team called a “major” economic development and job creation plan, which will be put to a public vote this summer.
The plan calls for the public to finance the improvements, and for the Islanders to compensate residents by paying Nassau County a share of each dollar generated at the new arena. This money, coupled with sales tax generated by the plan’s new facilities, will exceed the amount of public financing, according to an Islanders release.
The plan will be put to a vote August 1 in a public referendum, which could decide whether or not the Islanders stay in Nassau County. Their lease expires in 2015, potentially forcing a move.
If the measure is approved, construction is slated to begin in 2012 so the arena can open by 2015 at the latest.
“Without a new arena, we will lose the Islanders, shutter the aging Coliseum and besides losing present jobs, will lose the currently substantial economic benefits including all the existing arena and secondary jobs,” said Nassau County executive Edward P. Mangano. “The construction of a new home for the Islanders and the redevelopment of the Coliseum site will generate thousands of construction and secondary construction jobs plus thousands of permanent jobs.”
In addition to the new sports arena, the plan for Nassau County improvements includes a new minor league ballpark. Mangano also announced he will pursue the construction of a casino at Belmont Park, developed by Shinnecock Indian Nation.
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