LI voters reject hockey stadium funding

TRD New York /
Aug.August 02, 2011 01:18 PM

Voters in Nassau Country yesterday voted 56 to 43 percent yesterday toreject issuing a $400 million bond to build a new hockey arena for the New York Islanders in Uniondale, the AP reported.

Opponents of the projects said that County Executive Edward Mangano and Islanders owner Charles Wang were exaggerating when they said the project would bring 3,000 jobs and significant revenue for the area.

A state fiscal watchdog group, the Nassau Interim Finance Authority had said the project would cost individual taxpayers $60,
compared with Mangano’s estimate of $14.The authority also stated that the project would have cost $800 million altogether, with interest included.  Nassau County currently faces facing a $100 million budget deficit for 2011 and
some of the country’s highest property taxes, the New York Post reported.

The vote means that when their lease expires in 2015, the Islanders, Long Island’s only professional sports franchise, would be likely to leave Long Island’s Nassau Coliseum, perhaps for the Barclays Center in Brooklyn, the Post said. [AP via ENR] and
[Post]


Related Articles

arrow_forward_ios
Governor Andrew Cuomo (Credit: Getty Images)

Cuomo announces new state rules following Newsday’s discrimination exposé

How healthcare is saving Long Island’s office & retail markets

How healthcare is saving Long Island’s office & retail markets

The bombshell probe also found that minorities had to meet more stringent financial qualifications than white buyers. (Credit: iStock)

LI agents routinely discriminate against minority buyers, undercover probe finds

Islanders expect to break ground on Belmont arena project this summer, late composer’s Sands Point estate has another price cut & more Long Island real estate news

Islanders expect to break ground on Belmont arena project this summer, late composer’s Sands Point estate has another price cut & more Long Island real estate news

First hotel in decades could come to Babylon, waterfront Centre Island property gets $3M price cut & more Long Island real estate news

First hotel in decades could come to Babylon, waterfront Centre Island property gets $3M price cut & more Long Island real estate news

Nation’s first affordable housing development for LGBT seniors to open in Bay Shore, West Islip home with helipad hits the market & more Long Island real estate news

Nation’s first affordable housing development for LGBT seniors to open in Bay Shore, West Islip home with helipad hits the market & more Long Island real estate news

Jerry Wolkoff wants a new industrial building in Edgewood, former newspaper mogul’s Gold Coast mansion seeks $13M & more Long Island real estate news

Jerry Wolkoff wants a new industrial building in Edgewood, former newspaper mogul’s Gold Coast mansion seeks $13M & more Long Island real estate news

The Uniondale Marriott and Ten-X's Matthew Schreck (Credit: LinkedIn)

Long Island’s hotel market could be headed for a downturn

arrow_forward_ios
Loading...