August 1, 2011 will not only be one of the most significant days in Islanders history, but it will also be one of the most significant days in the history of Nassau County and Long Island. On August 1st, the residents of Nassau County will have the ability to vote yes or no on the proposed referendum for a $400 million taxpayer- funded plan for a brand new coliseum and new minor league ballpark. The new Coliseum and ballpark will be built in the space where the Nassau Veterans Memorial Coliseum currently stands.
It is my job as a lifelong Islanders fan, as well as a lifelong resident of Nassau County, to inform every resident I can about the benefits that the proposed referendum would bring to the hardworking people of Long Island. I understand that there are residents who are against the proposal, but I feel it is my duty to inform you of all the facts and the benefits that this deal will bring, so you can make you can have all the facts before you make your decision.
Being a diehard Islanders fan isn’t always easy. I have always stuck with them through the good and the bad, it almost goes without saying that I am going to be voting yes on the proposed plan. It's more than just the Islanders and the concerts and shows that the new coliseum would host, it's also about having a place to go on Long Island, a landmark, and a brand new arena that we can be proud to call our own.
What does the plan call for?
The plan calls for a brand new Coliseum to be built next to the current Coliseum as well as a minor league baseball park. As to how the money from the referendum would be allocated, $350 million will go to the construction of the coliseum, and $50 million will go to the construction of the ballpark. That's a total of $400 million that the plan is looking to collect from the taxpayers. Any overage costs over that number will be paid for in full by Islander’s owner Charles Wang. The Coliseum and ballpark will be owned by the County, with the Islanders and Minor League team paying rent. The county will also receive a percentage of all revenue that the coliseum and ballpark accrue, including concessions and parking.
Why a new Coliseum?
The Nassau Veteran’s Memorial Coliseum, which opened in 1972, is one of the oldest arenas in all of professional sports. It ranks near the bottom of the NHL in ice quality because of its outdated refrigeration system. The Islanders have trouble signing big name free agents to come to Long Island, partly because of the run-down arena's quality compared to other arenas around the league. A new Coliseum would also help attract A-list performers who have skipped the old and outdated Coliseum on their tours because of the poor quality of the arena, as well as the lower number of seats and luxury boxes. In the NYC-Metropolitan area alone are the Prudential Center in New Jersey and currently under renovation Madison Square Garden. If you have been to the Coliseum, and compared it to either of these other arenas/stadiums, or almost any other arena/stadium you already know about the disparity.
What’s the plan going to cost the average Nassau County homeowner?
Both sides have presented their own numbers, but the cost for the average Nassau County homeowner will be between $13.80-$58 annually. The last study by an independent consulting company paid for by the county determined that the burden would be $13.80 per home if the Islanders and Coliseum gain about the same revenue as they do now. The new Coliseum is sure to do more business than what the current Coliseum is doing, which means this number could be even lower. So the best case scenario could be $13.80 or lower annually, and the worst case scenario, which was calculated by the Democratic opposition, is $58 annually. Think about in terms of this: if you are a non Islanders fan who take their family to the circus or a concert at the coliseum one time a year, you would now have to take the train or drive into the city to go to Madison Square Garden to see the show. The transportation costs for that trip will most likely cost you around, if not more than the $13-$58 that you would be in taxes. So if you go to the coliseum just once a year, the plan would pay itself off. The independent study also suggests that at the end of the 30-year lease, Nassau County will have gained a net profit of $400 million in revenue and sales, through its revenue sharing agreement with Islanders owner Charles Wang. This means that over 30 years, the Nassau County homeowner will actually see his taxes lowered because of the new Coliseum.
Why vote yes?
Nassau County would stand to lose close to $104 million in annual earnings and 2,600 jobs if the Coliseum was to be closed, which will almost certainly happen when the Islanders lease is up in 2015. This loss will be paid by the taxpayers in an estimated $16 annual tax raise. So you can pay $16 annually and have no Coliseum, or pay the proposed $13-$58 annually and have a brand new arena to go for Hockey, Concerts, and all other types of entertainment.
The proposed plan would create 1,500 new construction jobs, during a time when work is hard to find. The new Coliseum will also create 3,000 new permanent jobs.
A new Coliseum would keep the Islanders in Nassau County until 2045 with the terms of a new lease agreement.
Charles Wang spent millions of dollars trying to bring get his Lighthouse project approved. The Town of Hempstead shot it down because of zoning and traffic issues. He planned on funding the entire $1.3 billion Lighthouse Project by himself. The team and its substandard arena have already lost Wang close to $20 million dollars a year. He has been desperately trying to keep the Islanders on Long Island.
Without the new Coliseum, Wang will be forced to move the Islanders out of Nassau County, and most likely out of New York. Without the Islanders, the Coliseum would close, and the lot will most likely be vacant for some time. With nobody going to the coliseum site, the surrounding businesses are sure to suffer from the decrease in the amount of customers that go to the stores and restaurants, both before and after Coliseum events.
With the facts presented, there should be no question that a new coliseum would be a positive thing for Nassau County. By voting yes, we are telling the County that we do want to improve our quality of life, and keep the Islanders, the circus, and all the great performers here on Long Island.
If the referendum passes, the county legislator and The Nassau County Interim Finance Authority (NIFA) will sit down with Charles Wang and tweak any part of the plan that needs to be changed to ensure the most benefit for Nassau County and its residents.
On August 1st, I hope you will do your part and vote yes for the new Coliseum. You can vote at your regular polling locations where you vote for government elections. This plan means a lot to me, as it should to all Nassau County residents. Let's do our part to help rebuild of Nassau, with the Coliseum being our first step.
Sincerely,
Mark Lupo
If you have any questions or concerns about the project that I could help you with, please feel free to email or contact me so we can straighten it out.
