According to Newsday, Charles Wang and Ed Mangano are set to announce the lease agreement and other financial estimations regarding the redevelopment of the Nassau Coliseum tomorrow. The following is the press release, as posted by B.D. Gallof on Twitter:
"Uniondale, NY, June 21, 2011 Nassau County Executive Edward P. Mangano will be joined by New York Islanders Owner Charles Wang at a press conference, Wednesday, June 22nd at 11:00 a.m. Together, Mangano and Wang will announce that they have reached an agreement that takes an important step forward, creating a new world-class sports-entertainment destination in Nassau County, including the retention of the NY Islanders - Long Islands only major professional sports team. An independent economist and lease negotiators will be on hand to address details of an economic analysis and lease related to the new arena."
CH: Well, here we are...finally. I have to admit I'm pretty nervous about this, mostly because I'm worried about how Wang and Mangano are going to conduct themselves when the tough questions are asked. But we have to stay positive here and hope that the numbers will add up. If they do, most of the detractors should be quiet. Yes, we may have to deal with more political posturing, but if the plan works it won't matter. This is a huge day for the New York Islanders. Without more details, it's hard to make any comments on this other than the fact that this is a huge day. It took them long enough but it's here, so just like with the Lighthouse, we have to forget the past and only focus on what is ahead of us.
AT: I remain an optimist in hoping that Wang and Mangano have used the past couple of weeks to prepare for this and to ready themselves for the difficult questions on rising taxes, and to hammer home the cost difference of a new arena versus the Islanders leaving Long Island. This is their time... don't screw it up.
AT: I remain an optimist in hoping that Wang and Mangano have used the past couple of weeks to prepare for this and to ready themselves for the difficult questions on rising taxes, and to hammer home the cost difference of a new arena versus the Islanders leaving Long Island. This is their time... don't screw it up.
In other news today, Newsday is reporting the Town of Hempstead approved a more flexible zoning plan which will allow for "residential, retail, entertainment, parking, office, hotel, restaurant or a new or refurbished Coliseum." While it's said this rezoning has nothing to do with the Wang/Mangano plan to build a new Coliseum, it does give more freedom for development once the arena is built.
CH: This is all fine and good. Like we touched on yesterday, in the short-term, what we will see is just the Coliseum and the parking lot. But this rezoning allows for long-term development on the site, so we won't have to deal with the problems the Lighthouse problems dealt with. While this doesn't affect the area in the short-term, the long-term outlook of the site is brighter.
AT: Definitely. The arena right now is pretty bland with not much surrounding it. Let's get the arena done first and then worry about making it all pretty afterwards.
AT: Definitely. The arena right now is pretty bland with not much surrounding it. Let's get the arena done first and then worry about making it all pretty afterwards.
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