NIFA MAKES NO OFFICIAL COMMENT ON PROPOSAL
But Their Fact Sheet Says Otherwise
By Corey Witt
5:50 pm: At today’s NIFA Public Meeting at the Marriott Hotel, NIFA Chairman Ronald Stack said that NIFA would not offer an “opinion or position” on the August 1st referendum on the redevelopment of the Hub Area/Coliseum. The meeting focused more on how NIFA is disappointed at Nassau County for not providing a more comprehensive budget plan for 2011 and beyond. The arena project was only spoken about for less then 10 minutes with NIFA continually stating they have no position on the referendum and will wait until after the public vote.
However, Stack and NIFA gave out a fact sheet that presented NIFA’s “Summary of Financial Factors Relating to Proposed Redevelopment and Leasing of the Hub.” The sheet had nine points. Here’s a summary:
1. Total Cost: NIFA says the total redevelopment cost to the County would exceed $800 million, including interest payments over 30 years.
2. Taxpayer Burden: Project cost would be paid through a property tax increase of 3.5 to 4 percent and the tax would remain in effect for 30 years, regardless of revenues from the project.
3. Potential Future Borrowing: The new arena would cost between $350 and $375 million with only $25 to $50 million left for the rest of the project. Completing the rest of the hub may cost more.
4. Identity of “Tenant”: The Islanders are not listed as the original tenant, rather “Arenaco SPE LLC.”
5. Surrounding Acreage to Tenant: Extensive acreage surrounding the new arena would be leased to the tenant, which would give control of development of the Hub.
6. Rent Not Guaranteed: The rent from the tenant does not cover estimated annual cost to taxpayers for debt services.
7. Tax Break: The tenant would be exempt from property taxes on the new arena and surrounding acreage.
8. Other Benefits to Tenant: Tenant pays no rent until construction is complete.
9. Risk of Bankruptcy: County would be responsible for all construction costs of new arena if the tenant files bankruptcy.
NIFA ended the new arena/Hub portion of the meeting by saying that if and when the referendum is passed by voters, they then would look into the financial aspects of the project and would then take an official position. Judging by the points on the fact sheet, feel free to make your own judgment if NIFA has or hasn’t formed an “official opinion or position.”
140 Responses to NIFA MAKES NO OFFICIAL COMMENT ON PROPOSAL
But Their Fact Sheet Says Otherwise
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Oye Comeau Va says:
Not surprising. At least now Mangano and Wang know the debate points that they need to brush up on in order to fight for the Legislature supermajority and the NIFA approval after the referendum passes.
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FourCupsin4Yearsnot60 says:
I’m not sure why anyone thinks NIFA will allow this bond the go forward. This is all a scam to get the Republicans (Kate Murray) off the hook for killing the Lighthouse. Now they can say, “oh, we tried to keep the Islanders but NIFA wouldn’t allow it. Its not our fault.” I’m not giving the Dems a pass here either. Their turn around, because Mangano will get the credit and not Suozzi, is nearly as bad.
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19 Isle in NJ 22 says:
Uh … yeah … it does seem that NIFA has an “opinion” of the “arrangement” as outlined in their little “fact sheet” … The problem I have with it … How much of that is actual fact?
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JT says:
Would the project qualify for Federal or State aid that could further defray the cost of the project?
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sad... says:
this is what happens when something is designed to fail…
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jon from nj says:
What qualifies as fact and what qualifies as posturing and opposition for the sake of opposition in all of this?
Frankly, I don’t understand how one side can see such benefits and the other side can only see such drawbacks. I mean, I get it…but I don’t.
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Ted S says:
Look like we may have to learn french folks, Cuz the Team is going to Quebec. NY doesn’t want Us. It is so obvious. We are done.
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JTizzle says:
They just put the GRENADE on this DEAL!
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The big question is…What is the cost to the taxpayer, who resides in Nassau county ? Secondly,how much $$$ is Wang looking to put into the project?
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Madchef says:
it is becoming more and more obvious by the day that NY does not want the Islanders. I just hope when they move they keep their name like the Lakers. It would be a shame for this team to be called anyhthing but the Islanders. I guees I can continue to root for them in KC, or Quebec, etc. I will be shocked if the team is here after the 4 year time table left on the lease. I just hope the seaon they leave the go deep in the playoffs as a farewell “go take a sh$te” to the rest of the people who let them walk away
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Oh Well says:
I hope i am around to be part of the Bring The Islanders Back to Long Island Project 10 years from now.
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bleedorange&blue says:
Chris, can you comment on the possibility of Queens?
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Mike239 says:
Charles Wang and the Islanders need to CUT ALL TIES w Hempstead and Nassau County. IT IS BEYOND CLEAR THE TOWN COOULDNT CARE LESS ABOUT THE ISLES. i cannot understand why people are dead set on staying in a location where nobody really gives a crap.
LOOK TO QUEENS MR WANG!!!!!!!!!! -
stopthepain says:
Why is everyone blaming the messenger? NIFA did it’s job, and I thought it was illuminating to see the various people who are on the hook (the tax payers) and the various people who get the sweetheart deals – “Arenaco SPE LLC.” Now, who is on the board of Arenaco SPE LLC? Let’s see if it’s some favored crony/real estate developer/provider of funds to the Republican party. Folks, it’s shady deals like this that most people are SICK of. Remember, it’s Kate Murray and the ToH R party that destroyed the Lighthouse project. Thank you NIFA and thank you Corey for keeping us informed.
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I hate to say it but the Islanders died dalong with that imbecile of imbeciles: Kate Murray, an absolute joke she is. I think the vote passes the legislature passes and NIFA puts the kabash on it. What a shame. You just knew it was never goingto get done, not in Nassau County, they are all crooked, and the Town of Hempstead and fat pig Murray are an absolute travesty, a bunch of criminals.
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D in Big D says:
First question is what is their report based on?Second ? what is the political affiliation of the NIFA board members?Third ? how much of the so called cost will be pumped into the local economy?ie jobs,local businessFourth? does anyone other than Isles fans care if they stay or go?We will find out Aug 1st on that one.If this doesn’t pass I will be canceling my subscription to Center Ice Package and will not support ANY NHL team ever again unless of course Mr.Wang does have a plan B to keep them in NY,which I highly doubt.Boy oh boy what a mess!!!!!The Light House Project had so much more to offer the area and still got shot down.Makes you wonder.
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nyc says:
I’m thinking that NIFA has legit concerns. If wango can answer or resolve these concerns then there’s nothing to fret about so soon. lets see how Wango reacts to this.
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Anthony 61 says:
Not even worth wasting my breath or energy on anymore. I am a die hard Isles fan and have always been optimistic about everything but i cant take anymore. Basically NIFA decides this issue and the vote is secondary, JUST LIKE EVERY OTHER ELECTION, THE PEOPLE HAVE NO TRUE SAY!
I will root for the team until they are gone but have came to a conclusion about how i feel here:
ENJOY THE LAST 4 SEASONS!!!!
Man this SUX!!!!
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SteveDoubleW says:
I hate that I have no choice but to sit back and watch the fate of my franchise I have cheered for since the spring of 1978.
This report is exactly what I didn’t want to see. I live in Canada, and DO NOT want to cheer for the Quebec City Islanders. -
anthony , long beach says:
I’ve been an isles fan since 78 and at this point i wish charles would just announce that they will not be sticking around. How many times does this team have to get kicked in the head? its been what, ten years plus since he’s tried to get the arena situation fixed. He just keeps getting caught in between the childish posturing of both political parties. Last time i checked wang wasn’t responsible for the financial situation of the county. I will miss my team immensely, but they do not deserve to be treated like this.
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Big Van Vader says:
Hate to say it, and i WILL be voting YES, but i just believe that NIFA will vote this down no matter HOW much of a slam dunk the YES vote will be.
Queens or Suffolk.
Screw Nassau “politics”.
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Vlad from Brooklyn says:
Somehow my 6th sense tells me it will pass and the Arena will be build.
Does anyone know if there is a legal way to debate, disscuss, fight NIFA’s decission? Is there any organization above them? Can State or Federal goverment be influential in any way?
I will keep my faith and wait for answers. -
hangover3 says:
Look, its obviouse this building is corporate welfare. The people who benefit? Islander fans (who go to games), Charles Wang, Rick Dipietro and any other millionairs on the team. But aren’t most stadiums corporate welfare? Who paid for the rest of the buildings around hockey? And why aren’t the Isles listed as tenents? So Wang could sell the team in 20 years if he wants to? So he is not tied down like this time?
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Steve C says:
Go to Queens Charles.
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IslanderJerseyMike says:
Depressing News…… It could be worse the team could already be playing in KC or Quebec.
I feel as Islander fans we represent Lloyd and the Nassau/Hempstead Politics that are against this team are represented by Mary in this scene from Dumb and Dumber:
Lloyd: I want to ask you a question… straight out, flat out… and I want you to give me an honest answer. What do you think the chances of a guy like you and a girl like me… ending up together?
Mary: Well Lloyd… that’s difficult to say… you really don’t…
Lloyd: Hit me! Just give it to me straight! I came a long way just to see you Mary. The least you can do is level with me. What are my chances?
Mary: Not good.
Lloyd: [Gulps] You mean, not good like one out of a hundred?
Mary: I’d say more like… one out of a million.
Lloyd: So you’re telling me there’s a chance. Yeah! -
Al L says:
Keep in mind,folks,NIFA is only responsible for the Bonding aspect of this Project. They should not be encroaching into any other aspect of this venture and cannot base their findings and decision anywhere other than the feasibility of Bonding.
Perhaps Wang would be wise at this point to purchase the Bonds himself, forgive interest payments and have his 14mil Rent expense applied against Debt Service payable to him. This setup would satisfy the entire cost of the Project,without the Taxpayer having to worry about a $58 investment and leave no further room for these vile Political Tug Of Wars. -
AJAX says:
Well, out of all of this, at least perhaps the residents of Nassau County will take their voting a bit more seriously.
Or get out to vote for the right people. -
Hey #16! Why do you dismiss the distinct possibility the ‘messinger’ didn’t deliver a fair and accurate ‘message’? It has been explained infinitum,that there are ‘no taxes’ that a resident will be on the hook for. Again,the $58 payment per household is in consideration of an Investment in their future in LI! Like any tangible investment it will be paid back and thensome!
Why can’t you people understand this? Is it possible you simply don’t want to? You’re worried about being on a hook? Think about the size of the ‘hook’ you will be hanging on should The Coliseum and surrounding area generating NOTHING! -
IslesHostage says:
Is it over? No. Can the Wanger ask for state funding to renovate the existing Coliseum and not have to borrow for the destruction of the existing building, removal, razing, footing, etc.? Seems like the LHP was a dimwit run job (ask the ToH what will pass? NOPE, Nassau just designed a biggest-plan-wins! approval. Now Wang does something A LOT more sensible (and surprise – he can make money with just a building?) and goes through government bond rather than negotiate a private loan with government involved kickbacks (rent free, Wang only pays sales tax).
I say it’s not over – it’s waiting for something sensible that can be done. Wang at least came off the “I need a small city to survive” BS – well, almost. (he still intended on developing the parking lot)
Maybe Murray, Wang and the Democrats can work on a plan that will work since NIFA wants nothing to do with getting the GOP any votes. -
They brought up something valid with Arenaco SPE LLC. Who are they? Any relation to the Arenaco LLC from OK?
Are they finacially secure? Do they have real assets (Spano)? -
Marc says:
As far as I am concerned, the bottom line is that the Wangano’s NEED to reply to NIFA’s concerns privately & to the public asap. Has NIFA met with Wangano since the details were released last month? If the Wangano’s details from the independent company (Cimoin Associates) are accurate, they should put the foot on the gas, get the word out, get a huge majority vote on 8/1, get the legislators behind their constituents for a super-majority and convince NIFA the deal warrants approval. I find it hard to believe that the voters & legislators can make a loud statement of approval but three guys (NIFA) can shoot it down. If NIFA’s concerns are valid, then isn’t it possible for the Wangano deal with the county to be re-written? Isn’t the referendum just asking Yes or No for bonding up to $400m and for a separate tax line? I did not see the referendum referring specifically to the negotiated lease agreement, which COULD mean that the least could be revised to satisfy all involved. Right now, the onus is on Wangano and company to reply to NIFA privately & to the public to re-capture and gain additional “YES” voters. Time is of the essence.
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DT says:
It appears the only person who can get this deal done is Charles Wang and Charles Wang alone. The democrats and NIFA obviously want some form of leverage that this project won’t cost the county and taxpayers more than it has to. They aren’t going to rely on figures that were presented, they will want something in writing that any expenses over a certain amount will have to be paid by somebody. That somebody is Charles Wang. He will have to guarantee that we will cover certain costs. That’s the only way this will be approved. It’s an unfair position for Wang to be in, but it is what it is and the ball is in his court. It is still extremely important that every Isles fan votes Yes on August 1st. There is a reason NIFA is not making a public comment about the arena until after the vote. We need to get the YES vote out and put pressure on NIFA and every group who is either against this or on the fence. It’s important not to give them any reason to block this arena deal. Don’t let the frustrations of today stop you from going to the polls on the 1st. That’s what they want. Don’t play their game! Vote Yes!!
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Claude says:
Not going to happen. Unemployment is at 16%. No ones voting for tax increase. Hope Wang has a plan “B” to keep team in area.
This is just sad -
Claude, the vote will be a yes. That’s not even the issue.
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Regarding some of NIFA’s concerns:
1. Total Cost: $800 million, including interest payments over 30 years. [We already believed this to be correct, based on information handed out by Wangano.]
3. Potential Future Borrowing: The new arena would cost between $350 and $375 million with only $25 to $50 million left for the rest of the project. Completing the rest of the hub may cost more. [How does NIFA know how much a new arena will cost without the design, negotiated contracts with the builders, and most importantly -- isn't it irrelevant since Wang said he'll pay everything about $350m?]
6. Rent Not Guaranteed: The rent from the tenant does not cover estimated annual cost to taxpayers for debt services. [Per Wangano, isn't the rent payment only suppoesed to cover a portion of the debt services, with profit sharing estimates to cover and exceed the balance by $400m over 30 years?]
7. Tax Break: The tenant would be exempt from property taxes on the new arena and surrounding acreage. [I'm not an expert on this but I recall reading something about Dolan re-building MSG with tax-free bonds and/or being tax exempt.]
8. Other Benefits to Tenant: Tenant pays no rent until construction is complete. [Why pay rent on old (current) and new (in construction) buildings which are next to each other concurrently?]
Any experts should chime in on their feelings regarding NIFA’s concerns… are they legitimate and if so, can they be addressed?
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Foolish is more like it. This plan comes out when a recession is about to get worse, unemployment is super high, taxes are killing us all and the State agency is auditing the gross misspending of the County in question WHILE they’re asking to spend even more (though it makes sense)?
Chris, does NIFA’s claim about tax hikes of 3.5-4% hold ANY water or is this political bullying? I’d like to know if NIFA’s claims are, in fact, warnings we should adhere to or warnings we won’t get a new building?
And can Wang renovate the existing building via private loan backed by County agreement if this fails? (no ballpark, no BS, just an overhaul to raise the roof and widen the concourse and provide more revenue streams) Would Nassau yield some goodies in return such as a right to develop some of the property (NOT LHP!)? Thanks Chris.
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sean says:
Welcome to nassau’s soon to be blighted county the land of no and missed opportunities. No other developer will deal with this bs if they think someone else wants to develop the property. cero property next to expressway is vacant still.
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@#32 Al L – Why so angry? I understand the basics. I’m a diehard Islanders fan who has a problem with a mostly privately funded Lighthouse getting stopped by a machine politician afraid of change and who was likely influenced by Roosevelt Field dollars to kill the lighthouse. Instead of the privately funded lighthouse, we have a publicly funded project with “arenaco LLC” as the main property beneficiary. Someone is likely being privately enriched. If you don’t have a problem with that, then you have a higher toleration for influence peddling and corruption than I do (and believe it or not, mine is fairly high). NIFA is simply doing its job (which it has to because of decades of mismanagement in Nassau County). Like I said, why shoot the messenger (Nifa)? By the way, maybe I am wrong about this – If I am, I will be happy to eat crow. Identify who sits on the arenaco board and who controls it and then we can follow the money and see who is getting enriched.
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AngryPete says:
CLAUDE (#36) – With unemployment at 16%, wouldn’t you WANT a project that will employ a large number of people? Sometimes you have to spend money to make money
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Blizz says: Having the Islanders fate in the hands of Nassau county is a nightmare. This is LONG ISLANDS TEAM!!!!! thousands of Suffolk county fans sit helpless as this latest fiasco unfolds. I love this team and have since 1978 when they won my allegence as a young boy. Propose a Suffolk county option!!! I want to have a say. This is infuriating.
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Bababoey to you all says:
Step away from the ledge, people…This isn’t necessarily a terrible thing…Now that NIFA addressed their concerns it gives Wangano the opportunity to adjust…Unless this is written in stone??
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Isles99 says:
CB- I have a question. If the vote passes, yet NIFA blocks the project, is Wang still on the hook for paying for the cost of the election as he promised he would with a passing vote? If so, he is the dumbest smart person on the face of the planet.
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Tom says:
WTF, there are a couple of items listed that don’t seem factual and NIFA should have back up their claim:
If the $58/year is correct, then the 3.5-4.0% figures are WAY off. Simple math – this would mean that the average property taxes in Nassau were $1,450 to $1,657 per year. I don’t know of anyone on Long Island with taxes in that range. Try $8,000 to $20,000. More than likely they were basing this math off only a portion of that total actual tax bill. They need to explain how they arrived at this.
On the tax break bit, the County owns the land, the county owns the Arena. The team is a renter. Who directly pays property taxes on real estate they don’t own? The owner pays the taxes, and since the County insists on owning the building and the land there is none. The way NIFA has stated this is totally disingenuous. They need to make clear that they are comparing this to the team actually owning the real estate.
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Isles99 (#43): Wang said he would pay for the cost of the election only if it gets all approvals to proceed.
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JT27 says:
We have come & vote Yes by an overwhelming margin. Lets go for 10 to 1 then it will be hard for the Democrats & NIFA to say the citizens of Nassau don’t want this. Otherwise it could be worse we could be in Greece.
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Dreu Theran says:
Boy, this doesn’t look good. But at least the Rangers don’t want us to move! Thank goodness for that.
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Time to play Muses’song Uprising reeeeaaally loud. (great goal song, btw)
FTW!!!!!
Let’s Go Islanders!
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at the end, charles wang is gonna look like a Saint in 5 years by remaining quiet. this collection various political organizations/operations/operators will have their way. the NVMC will get demo’d on the taxpayer dime( wait til you see the cost of that debacle), and in its place,more hofstra university and/or more shopping.
on a day when Ranger’s greats are in support of the Islanders staying here. i always believed the team would stay here. i have no faith after the release of todays NIFA info. its the lighthouse project redux, too many layers of government with too much to gain from the project dying. -
(46) Tom Post 46 raised some eye raising issues…Those are great points…
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#48 I agree 100%
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93 Miracle says:
Some of you on here are just disgraceful. No wonder people talk trash about islanders fans and yea the attendence is a big part of that not the should have been drawing a lot. But the lack of pride on here is disgraceful. People are just “okay the team will be in Quebec City in 2015, nothing we can blah blah blah” if you are a TRUE DIEHARD why would you give up now? I know things have been frustrating on the ice for a while and off of it with the lighthouse/arena and the lack of respect The Isladners get. “oh I just hope the islanders do well in there last season” are you Fing kidding me!?? You are the people that just let others push you around while you look on the bright side. WE ARE GOING TO BE PLAYING IN NEW YORK AND THATS THAT! Thats the do or die attitude you people have to have. Some people do I know. This is coming from a fan that was 9 when the Islanders defeated the Penguins in 1993. I have been waiting most of my life to see a good team on the ice and for the first time I can actually say “You know what the Isles can be really good in 2-3 years” and its True! THe islanders are building something special here with there young core. Sure more bumps are ahead, but roses are also ahead. If I have faith waiting most of my life then people who saw the easter epic or/and the cups should CERTAINLY have Faith. I have watched to much islanders hockey, been to wayyy to many games to give up like some of you. Shame on you! As Laviollete once said “leave your sweaters at the door.” or something like that.
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#54 Exactly!!! I couldn’t believe the negative and “i give up” posts either. If anything, now is the time to stand up and show your true colors. Anybody can just turn around and quit. If fans want to whine and quit, let them. We need loyal fighters!
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Sean says:
My personal opinion: the Islanders have already left Long Island. In the current economic / political climate, there is no way they get significant tax money for a team almost NO ONE goes to watch. The only question in my mind is whether Wang can get himself free of the lease (the likely real purpose in the multi million $$$ repair request) or if the Isles actually have to play until 2015.
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Ari (Not Haanpaa) says:
Sure sounds like a formed opinion to me, and sounds rather depressing. Hopefully Wangano have rebuttal arguments well crafted and ready to go.
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mht says:
Tomorrow in their series of informational sessions on the Aug 1 Referendum; There are two scheduled @ the Theodore Roosevelt Executive and Legislative Building 1550 Franklin Ave Mineola NY.In the Rotunda. Session one 12-2PM, another 4-8 PM.That night edition should be a d oozy. Guaranteed more exciting than that late season Atlanta Thrashers/Islanders game.
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TurgeonFan77132 says:
I love how even with projects of this type, it all comes down to the bickering between the Democratic and Republican parties. It’s quite a shame that the majority of them have the horse blinders on and are set at mud slinging each other over this project.
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well, at least nifa isnt trying to influence how people vote by at least saying they wont comment til the vote takes place. however, of course you can read between the lines how they really feel. so far from the politicians to the way nassau and the toh to newsday to wang himself have handled this situation is to say the very least a very sad affair. the politicians and nassau and the toh dont care if the isles leave. what a joke. now you hear there is a investigation on voting influence to push a yes vote which would be illegal. earlier in the week nassau county voted to have a independent team play in the new minor leauge park over a mets farm team. thats the biggest joke of all. you want residents to vote yes. the casual fan or resident would likely vote yes for a mets farm team over a who cares independent nothing team. newsday of course will be against a yes vote since dolan the rags owner who owns newsday wants the rags to be the only team in town. put this together with wangs do nothing attitude from doing nothing to improve the isles to not getting former isles greats to come out for the new arena to not having a p.r. dept to really go all out for a yes vote. the biggest joke of all is on wang. the only p.r. media person to give fantastic coverage on the situation is c.b. who wang banned from the nvmc. wangs indifference or understanding how important c.b. is to wangs aragance towards the fans to how he destroyed and is still destroying the greatest nhl franchise ever, is just another reason things look very bleak for the future of this once great franchise which is now just one big joke which i hold wang responsible for. i am 100 percent certain if wang understood and cared and respected and ran the brand he has instead of running the brand which is the new york islanders, the greatest nhl franchise ever instead of running the brand like a 3rd rate minor leauge laughing stock, this situation would have been resolved years ago.
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CG says:
So did anyone catch the latest Dolanvision news12 report. This time how nobody knows about the vote. They showed a clip of a guy that said “what’s a referendum” and another woman who had no idea about the vote. Wonder how many people they asked that did know that they edited out. They are creating stories of their choosing, not reporting the news. Newsday and news12 are trying real hard to kill this thing. Really unbelievable. I can tell you one thing, if the isles leave, every isles fan should end newsday subscription and switch to fios.
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CG (#60), we know about the referendum but there are TONS of residents who have NO IDEA. The county & Islanders have done a poor job of spreading the word so far.
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Dave says:
Exactly CB! NIFA is all ready showing there cards who side they are taken. It’s politics I don’t care if they are a advisery board. They could careless if the colisuem remains.
What needs to happen is…
-Charles Wang has to give specfic information on this project instead of hiding in the corner and dark..working as one with NASSAU COUNTY. Work as a UNIT and show NIFA.
- We need to have at least 60% of the Votes are it’s a wash even after it happens to pass AUG 1, 2011 vote.
- In all honesty I see Nassau County doing more then the Islanders orginzation speading the word. The only time the Islanders are publizing the AUG 1 Vote is events held at the colisuem.CB.. I ask you…Do you think that the Islanders organization will heavly advertise and spread the word in the next 2 weeks starting MONDAY?
ALSO CB you should try and get on the WFAN 660 radio again with Mike or Joe binigo you are number #1 for all of us! One more thing will any one from the Islanders get on the radio…?
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DZLINY says:
Arenaco is a non-issue. Under the lease, as a condition of lease going into effect, Arenaco is supposed to enter into a sublease with the Islanders subject to the county’s approval calling for the payment by the team to Arenaco with the same payment terms as the “master” lease between Arenaco and the county. Arenaco is also required to assign all rents due under the sublease directly to the county. So in the end, Arenaco is a simply a pass through between the team and the county. Not sure why it’s set up this way, but Arenaco’s financial wherewithal is irrelevant because the team’s financial obligation is assigned directly to the county. The lease also requires the Islanders to separately enter a pledge agreement agreeing to pay all rents directly to the county if Arenaco files for bankruptcy.
NIFA should have taken the time to read the lease before commenting.
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caber09 says:
Goodbye Nassau, Queens & Brooklyn have the infrastructure and the politicians actually want the team. Attendance would be higher as a result, and if the team continues to improve the boroughs will get a ggreat young team…meanwhile Nassau will remain the land of DWI’s and shopping malls. Taxes will skyrocket, guess thats what they meant by Tax Revolt huh? LOL Thanks Katie Murray and Town of Hempstead!
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wasnt Charles Wang going to write the check fot the entire lighthouse project? Im not that educated on the details re. the lighthouse so someone correct me please if I am wrong- Does he still have the funds to do such a project? Why does this have to be so difficult? Why do the residents of Nassau have to be partners? The current proposal is doomed and we all know it. Why even spend the money and manpower dealing with this? If it is to find out if he still has a fan base it is at the worst possible time because the only Islander fans left are the hardcore ones. He chased the average hockey fan away to the Rangers long ago. If I had a billion dollars I would guarrantee the Islanders would stay on long Island. I would do my best to relocate the team next to citi-field where blue and orange bleeds through the concrete. (and theres also access from the 7 train and the LIRR) I would see this team rise again.
I thought you were smarter than this Mr. Wang, I though you learned your lesson with the politicians. Why do they have to be involved in the deal if you can build it yourself, perhaps just to look like you tried to save the team when they crush your proposal even after we give it the vote of approval? Get with it man, build your own arena somewhere else on LI and let the NIFA and the Legislature take a field trip to the pile of rubble that once was the Great Nassau coliseum.
Wake up. Shame on you if you don’t.
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Numbers65 in Ohio says:
It is so obvious they don’t want the team. The polytrixters must have some idea for the land that they think will make more cash flow to them and their friends. Good attempt to look blameless. If the team moves and is no longer the NY Islanders I don’t see much reason to root or follow anymore. This bites! We can only hope for a miracle.
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CB..you should go on WFAN 660 again!
I listened to Boomer and Carton this morning and they mentioned…trying to get someone on the show…who knows more about this vote Aug. 1, 2011. They are for it, but are trying to have the Listeners understand more about this vote!
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pj1212 says:
I loce this team and always will, but it is getting sickening it just seems they are destined to fail, i say bail out now on nassau screw them. look into queens or brooklyn, maybe even suffolk, nassau does not want them,nor do they deserve. In the end however i do this happening and the arena getting approved. LETS GO ISLES.. keep the faith…
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islesrock73 says:
Please, everyone take a deep breath.
This is a large transaction, and all the NIFA, Dems, Republicans, and Wang posturing is all part of a negotiation. Wang and his people are no dummies. I am sure they have anticipated NIFA’s concerns. Please, I don’t mean to sound arrogant, but I have been involved in large transactions, and all this ‘stuff” is par for the course for a deal this size, especially when a government body is involved. To me, the NIFA comments were soft, and can and should all be addressed before the vote to Wang’s advantage. Believe it or not, NIFA did Wang a big favor. If Mr. Wang really wants this to work, he will make it work, within reason.
Those who think Mr Wang is going through this process to save Kate Murray’s reputation or to have an excuse to move the team are ill advised. I am sure he has better ways to spend his money and time. If he did not want the Islanders to stay in Nassau, he had the perfect excuse after the Lighthouse deal was ended.
Everyone remain positive, don’t panic after every news story, get the yes votes out, and the chips should fall into place.
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Don’t forget people that the owner of REX Corp was in partnership with Charles for the Lighthouse project to pay for it…now it’s only charles trying to get this project to pass!
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one more thing im sure NEWSDAY will capitalize on the story that NIFA does not believe this project is good for Nassau! NEWSDAY has been like this even before cablevision took over…it’s just worst then ever!
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To poster 54, 93 Miracle thank you for a brilliant piece. Mr. Christopher L. Melvin[Esq.] the lead negotiator for Nassau County was a deal maker in the following deals:Arizona Cardinals {University of Phoenix Stadium; Glendale Arizona],the New Yankee Stadium [Bronx NY],Ford Field {Detroit Lions],New Meadowlands Stadium [East Rutherford NJ],the Rose Garden {Portland Trailblazers; Portland Oregon],America West Arena [Phoenix Suns;Phoenix Arizona]Quest Field {Seattle Seahawks;Seattle Washington],Phillips Arena{Atlanta Georgia]and the soon to be completed new home of the MLB Florida Marlins on the site of the old Orange Bowl; Miami Florida].People relax;You can rest assured a proper rebuttal to NIFA’s baseless claims will be forthcoming.
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Coliseum proposal is getting cover page tomorrow in Newsday. “NIFA Cold On New Arena”. I just keeps getting worse.
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MHT (#73): I believe that Mr. Melvin is neighbors with Mike Francesa and Boomer Esiason. Hopefully he will get in touch with them and get himself or someone on our side on the radio/tv shortly to reach a large audience. The more “YES” votes, the better. In the meantime, let’s hope that a proper rebuttal from Wangano is forthcoming.
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Paulunde says:
Throughout this entire ugly affair, I keep recalling the stories of Al D’Amato’s involvement with the current mess we are facing. Way back when, during the Lighthouse proposal, if Mr. Wang had played ball with Al, hired D’Amato’s brother when he was told to, this whole story would probably be very different today. So while we bash phony’s like Murray, let’s also remember our great former “public servant” Al D’Amato.
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nyc dork says:
I never knew LI has it’s own Independent Long Island flag till today. hmm interesting
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Read the NIFA article in tomorrow’s Newsday. Shame on NIFA and shame on Wangano for not getting on the same page. If the deal “won’t cost the taxpayers a dime,” the facts should back it up and there should be no opposition. If this is just a continuation of political bs and others shooting it down for their personal benefits, shame on them too. Embarrassing and unacceptable. Wangano need to present the facts and get on the front page.
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We Want Ten says:
You people really want the completely misinformed and arrogant blow hard Francesa on our story?
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Phil L says:
Interesting how now everyone is following Nassau politics. The numbers presents by both sides are spun to support their argument and the truth will likely fall somewhere in between. If the vote passes by a large enough margin, it will happen as not even FIFA wants to look like its going against a mandate. But if its close, or gets voted down, expect Quebec City to having opening night in 2012. Currently the Isles lose money each season and thats with the lowest payroll in the league (and shoe string front office). Basille and the QC group have deep pockets and would glady bail Wang out if he’s willing to sell. I’m no big fan of Wang, but I can’t blame him if he sold the team, in its current position its a losing venture. Without a new arena asap, its just a money pit.
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BobbyNy23 says:
No worries our pr department will counter , oh wait …
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Islebethere4u says:
If this should fail, they should just take a shovel to the town of Hempstead, Nassau county, and all the politicians that have refused to open their eyes to the benefits of this project. They are playing on the fears of the public that this will absolutely fail and that the residents will pay unreasonably for what is being wrongly called a bad idea. Well folks…wake up!!! Agreat man once said…”THE ONLY THING WE SHOULD FEAR IS FEAR ITSELF!” These backwards thinking politicians are paralyzing the public with fear, half truths and inuendo. Unfortunately the only peaople reading this are Islander fans, and that might not be enough.
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avann says:
FYI I went down to the board of elections (240 Old Country Road) and filled out my absentee ballot. You can also go to their website and download the form. Fill it out and mail it to them and they will then mail you an absentee ballot. I will be on vacation and there was no way i was going to sit this one out.
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Tedge77 says:
I dont understand why every other city that needed a stadium built found a way to get it done. I am so sick of the corruption that is so evident in this state.
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Jzimm says:
MickeyBoy #1, you nailed it! Sometimes I wish we could just complain about Milbury again. This stuff makes my brain tired.
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telli says:
I am a die hard Islanders fan. I wish nothing more then for the team to move to either suffolk or queens. Nassau does not deserve our team. I prefer they go somewhere wanted, somewhere where the team is the most important priority. I will follow the Islanders where ever they end up.
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Its time to dump the puck in and grind in the corners. Out work the nay sayers and win the puck!
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The Isles owner has screwed it up, the County has screwed it up and Murray refused to cave enough. Period. Where does the fault lie if all parties were incompetent? The LHP bid was incomplete after several tries to get revisions on numbers. The current project has no plan/layout presented. The building overhaul was tossed for a more expensive tear down/replacement. The County parties are in a battle with one another, NOT THE TAXPAYER. Information is misleading on both fronts. Wang has done a horrible job; Mangano a horrible job; the media horrible job. It’s doomed because all parties involved are inept.
The basic tenet: if the team leaves, the taxpayer suffers and the residents suffer. If the team stays, the money will flow in to pay for it or…..the government has to go after the owner. The events will be vital as they are now to the local economy and citizens. Lose them and the economy will take an even bigger hit – and that’s without discussing the jobs created.
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THE RETURN OF THE CENSORED 16 EXPIRING says:
They are gone…it is about as official as it’s gonna get until the obligatory NIFA rejection because, don’t say I didn’t tell ya so, as I am now QUOTING Long Island Business News correspondent, John Kominicki in his op-ed piece:
“For starters, the lease is not with Islanders owner Charles Wang or the team, but a newly created company called Arenaco SPE, which stands for Special Purpose Entity. As far as I can tell, Arenaco has no assets.
In another setback for the We (Heart) Wang crowd, the lease allows Arenaco to transfer the deal to someone else after a short two seasons. A flip, Sir Charles? Say it ain’t so.
The deal gives Arenaco control of the entire Hub property, including parking – it guarantees 6,500 spaces – and gives the company the right to block other local development that it thinks would disrupt arena operations.
The agreement also spends an inordinate number of pages discussing what would happen if Arenaco were to go bankrupt, which seems a little disconcerting for the start of such a financially rewarding, win-win partnership. Or is that just me?
On the revenue side, Arenaco would pay the county $14 million a year in rent, but not until the new arena is built, which might take up to five years and might include cost overruns of $25 million, according to the lease. Arenaco would be responsible for the higher costs – assuming it has assets by then – but could deduct them from its rent payments.”
There is almost no way in the world NIFA is going to let this fly. I’m sorry, but as someone here said earlier in this thread, THIS IS DESIGNED TO FAIL! QUEBEC CITY, 2015.
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Billy the Kid says:
This is a brutal attempt by one George Marlin (one of the NIFA members opposed to the plan) to apply literal risks without any application of the mitigating or offsetting benefits.
If you ever read any corporate MD&A in SEC reporting, there is the listing of any concievable risks…..risk of interest rate, risk of sales decline, risk of financing, risk of competition, risk of obsolete technology etc.
What NIFA did in this “fact sheet” is not account for the lease payments from the Islanders (Arenaco SPE) of minimum $14MM or any additional revenue up to 11.5% which generates the cash flow to pay the principle and interest. In other words, they are just ignoring lease payments and 11.5% and saying the cost is 3.5-4% to taxpayers as if the lease payments don’t exist. The lease payments and excess above the $14MM (11.5% of all revenue, which could be as high as $18.9MM annual)is what offsets the cost to taxpayers and how the actual cost drops from 4% to under $58 per household.
Yes, there is a risk of bankruptcy, there are always some risks, risk of being hit by a meteor, risk of nuclear war, etc. That is all BS on NIFA’s (Marlin’s) part.
Arenaco SPE is the leasee with NYI as the sub-lease, which adds protection for bond holders, as NYI (and Wang) are the guarantors of Arenaco on the payments.
This is blatant assasination….just looking at what they want to lok at and overlooking the cures and fixes that make this viable.
Marlin is a punk and should be held accountable for fraudulent statements. -
Bob E says:
800MM, where do they get these figures? This is a joke. Who is NIFA? Sounds to me like a bunch of lawyers. How much are we the taxpayers playing them Annually?
How much did other arena in league cost to put up. I heard Pens new home was under 300MM. Is that correct.
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gary says:
Bye bye Isles—Sounds like the vote is a waste..Only chance if its lopsided
I understand that the cost with interest is 800 million over 30 years but isnt Wang paying for this thru revenue share which actually makes the county money over the 30 years? -
Schultz39 says:
Time to get out of Nassau County…..these people are a joke. We should be looking at Queens now.
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Jim Clark says: So is our theme song “Kansas City” by Wilbert Harrison or “Welcome to the Great White North” by Bob and Doug McKenzie?
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Kbelanger33 says:
As Howie Rose would say, “Put it in the books!”
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Hank says:
Oh well so much for a new Arena.
I cannot take it anymore, I so much wish something good would happen instead of always in constant worry about this team.
I guess I have three more years to cheer on my team until they move away and become a championship team in another city.
Just wish it could have been here on Long Island.
If Wang was willing to pay for the whole Lighthouse project why are we even talking about using county funds for an arena anyway? -
dose says:
This is about the most clearly stated ‘no position’ position I’ve seen. Without knowing Wang/Mangano’s full intent, agenda or possible contigencies, it seems like there’s an opportuntity for them to address these very specific ‘concerns.’ Whether they can that adequately, or even want to, is the question. It’s also possible NIFA came out this now, knowing full well Wang/Mangano won’t or can’t address/resolve these issues. I wasn’t aware of ‘Arenaco.’ Interesting. I’m gonna see what that’s about.
Meanwhile, the stress of worrying about this for 5 years is wearing on me. I go back and forth from thinking it’s over and they are gone, to, even if this plan doesn’t work, something else will arise to save the day. The whole thing is Shakespearean now. If it ends well, it will have been a comedy, if not, a tragedy. Either way, it’s relentless and freakin exhausting.
(And by the way, for a hint as to the core of this whole fiasco, I suggest seeing #75 up there.) -
Nassau is going to the crap hole now !!!
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Hank, Wang was going to pay (with private financing) for the entire Lighthouse project because there were so many more revenue generating aspects then just the arena-housing, shops, office buildings, hotels etc. You do not have the same economics with just an arena.
I still think Mr Wang will tweak this proposal, within reason, to take less burden off the taxpayers. Even though the $50 a year increase is a joke anyway. The people moaning and groaning about this little tax increase are economically challenged.
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StevieL says:
I’m speechless! You would think that Nassau would be doing everything in their power to figure out a way to make a deal that would work! Lose the Islanders? Lose the NVMC? are you kidding me!There should be no other matter before Nassau more important than this possibility! Cities are lined up trying and begging for a major league franchise, yet this town and this Cty. treat Wang and the Isles like a liability!Whats the old saying, “you never know what you got till it’s gone!”. Again NIFA is doing a fine job here scaring the living daylights out of Nassau tax payers, perhaps now they want to paint the picture of no NY Islanders and a vacant NVMC!
I have rooted for this team since the Spinner Spencer days, but I too am now in the camp of finding a Suffolk or Queens alternative. Nassau is a mess! -
MikeInNYC says:
time to “explore all options”
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Gary says:
Bye Bye Isles,
For those of you who may not be aware, NIFA has final say on all spending in the county. Just ask all the county workers who had a contractualy obligated pay raise coming that NIFA took away. This is something that they supposedly couldn’t do, well they did, NIFA will kill this at the first opportunity. Quebec the ball is quickly coming into your court.
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By the way, before you start with they won’t leave and Brooklyn and all that, Brooklyn belongs to the boys in blue, Suffolk will not generate luxury box sales. Quebec sells luxury boxes and 13000 season tix on day 1 in a brand new arena. Winnipeg is showing the advantage, if you are a businessman and own this company what would you really do?
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orngfan says:
since NIFA is all knowing, how about they tell us all what the tax payers potentially can look forward to with a vacant nassau coliseum? It’s going to be a LOT more than 3-4% per year!!
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DWC says:
Bob E #88
$800M is the total cost including interest. Actually assuming 6% interest and it comes out to around $863M. As with everything else, it’s in the presentation. This is just like having a mortgage which people can relate to. When you get a mortgage for $500k, you actually pay around a million dollars over 30 years (same 6%). If NIFA’s agenda is to put out a number to sway voters they put it in the worst light with the biggest number. They also don’t figure in the revenue sharing (min 14M)which makes the MAXIMUM amount to the county $443M over 30 years nor do they factor in the demolition cost to the county if the plan does not go forward which you can write off directly against that $443M. And that doesn’t even get into lost revenue from the existing building. Someone has to start presenting the numbers this way and factor in the effect of a dark arena because without the anchor tenant there’s no way the NVMC is worth “maintaining”.
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PeteM says:
They may have no “official” position or opinion but every word out of their mouths on the subject has been negative and put a negative spin on this project. This has been all carefully orchestrated in the hopes that the referendum is defeated, so they never have to rule on it themselves. Its all just so disgusting.
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WEHM Anthony says:
Does anyone else find it interesting that this meeting was held at a hotel that wouln’t even exist if it wasnt for the islanders and the coliseum?
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emira83 says:
great job cb giving the fans the coverage on every move the county is making. i just hope theres agood vote turnout and its marginable yes
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Dazed and Confused says:
The way the Islanders are handling this. Lack of advertizing, absence of interviews, no press conferences, TV or Newspaper adds or handing out Commuter Flyers @ LIRR stations, ETC… Its seems like they are welcoming/expecting the negative outcome which seems inevitable at this point in time. This lessee fair attitude leads me to believe that Wang has finally kicked the can and has the Isles alternative home location already picked out. Nassau doesnt want the NY Islanders. That is obvious. Its been nearly a decade and there has been ZERO progress on a new Arena. Hopefully when the Islanders do move. It will be to Suffolk or Queens, but IMO its all but guaranteed it will not be Nassau County. We will know once and for all when the Aug Vote passes and NIFA rules against the will of the voters. It will take at least 3 yrs to build a new home unless one is already waiting.
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Denis says:
NIFA overstepped it’s legal bounds and tried to poison the vote with what it did yesterday. Looking at the comments here, they succeeded. People need to redouble their efforts to get out the yes vote to make sure this passes. Then let’s see if NIFA has the stones — or the authority — to blow its own hole in the Nassau County budget by rejecting the deal.
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SEC313 says:
Post #88 hit this right on.
PLEASE google Charles Wang and READ, especially Wikipedia, about “our savior”.
People like Wang DO NOT make mistakes in the business world.
There is ALWAYS a way out.
You remember Sanjay Kumar??
In 2000, Kumar replaced his mentor Charles Wang as Chief Executive Officer of the firm and in 2002 became Chairman of Computer Associates’ board of directors. Kumar is widely credited for moving CA to be more customer-focused, and for implementing the software industry’s first large scale ratable revenue recognition business model.
Kumar resigned as chairman and chief executive in April 2004, following an investigation into securities fraud and obstruction of justice at Computer Associates. He remained with the firm in the new position of Chief Software Architect for about six weeks before leaving the firm altogether on June 4, 2004. A federal grand jury in Brooklyn indicted him on fraud charges on September 22, 2004. Kumar pled guilty to obstruction of justice and securities fraud charges on April 24, 2006.[2] On November 2, 2006, it was reported that he was sentenced to 12 years in prison and fined $8 million for his role in a massive accounting fraud at Computer Associates.
At the hearing in federal court in Brooklyn, Judge Leo Glasser sentenced Kumar, 44 years old, to 144 months in prison, to be followed by three years supervised release. The judge deferred payment of the fine until after restitution is determined at a hearing scheduled for February 2, 2007. Kumar was scheduled to report to prison on February 27, but that was delayed by two months due to delays in the restitution hearing. The start of the prison sentence was then delayed again, to November. However, in early June U.S. District Judge I. Leo Glasser ordered Kumar to surrender by August 14, 2007 to the Federal Correctional Center in Fairton, New Jersey, to begin serving his 12-year sentence, and on that date he did so.
“I stand before your honor today to take full responsibility for my actions,” Kumar said prior to sentencing. “I know that I was wrong and there’s no excuse for my conduct.”
On April 13, 2007, Judge Glasser approved an agreement for Kumar to pay $798.6 million in restitution, at least $52 million by December 31, 2008.[6] After he serves his 12-year prison term, the government may take 20% of his future gross annual pay for restitution.
At one time, Kumar was a part owner, with Wang, in the New York Islanders hockey team and New York Dragons arena football team, but, according to local news reports, Wang purchased Kumar’s share in 2006.
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SUFFOLK would welcome you. Build it right next to a rail road station so fans can get in and out easier.
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I wish someone would launch an investigation on NIFA, Nassau County is in financil turmoil, where is the accountability on what they have done in the past few years to help??? How much are these people being paid???
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Charles Wang’s Messy Second Act:
The ex-CEO of ’90s highflier Computer Associates is trying real estate. But his past won’t stay behind him.
Wang seems to attract controversy. In the go-go 1990s, when he ran software giant Computer Associates, he cut a ragged path through the tech industry with dozens of layoff-causing acquisitions and rancorous relations with corporate customers.
Then the company imploded amid Justice Dept. charges that its executives had violated accounting and securities laws. Eight of them went to jail. But Wang, the company’s chairman during the period investigated, was not prosecuted.
Wang is having difficulty leaving his past behind. His former company, renamed CA (CA), last month filed court papers seeking to recover compensation it paid to Wang, including a $600 million-plus performance bonus.
“CA’s Special Litigation Committee concluded that Mr. Wang knew of, directed, and participated in the premature recognition of revenue,” says spokesperson Jennifer Hallahan. Wang denies any culpability. Of CA’s effort to recover money from him, he says: “What they’ve done is shameful. They should focus on the business and move on.”
The company’s claim is based in part on a jailhouse deposition by former CA Chief Executive Sanjay Kumar, who is serving a 12-year sentence in a minimum-security federal prison in New Jersey.
Kumar stated that Wang “personally directed” the illegal accounting practice that landed him and the other CA managers in jail. Wang rejects Kumar’s allegation: “He’s the one who pleaded guilty.” Through his lawyer, Kumar declined comment.
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Willie says:
2 words…….SUFFOLK COUNTY!!!
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The problem with NIFA’s “facts” is that they are bases on the finances and not the lease agreement. I understand that they are all dems but they are making us look bad! I was a big Tom Suozzi guy but NIFA is way off here. Lets go point by point
1. Total Cost: Nassau County has said that the costs are $400 million in borrowing and $433 in debt service. At worst attendance levels and only 150 events a year they still would bring in $1.2 billion for taxpayers. Funny how NIFA didn’t mention that report. Guess they know its right and don’t want to admit it about a republican.
2. Taxpayer Burden: Yeah that building is going to cost $22 million a year but it will bring in $24 in the worst case scenario. Hell even if they never sell a ticket, pretzel, and no shows come the Islanders are guaranteeing $17 million to the county each year.
3. Potential Future Borrowing: Section 5, page 18. All costs overruns for the coliseum will be covered by the Islanders. Wang even admitted there would be overruns at the press conference.
4. Identity of “Tenant”: “Arenaco SPE LLC” is the name of the Islanders real estate firm. They are technically right on this one. The Islanders, though, are still guaranteed to be there till 2045
5. Surrounding Acreage to Tenant: Development rights do not go to Wang. The county still controls the land. The only deal in place is that anyone who uses the land needs to build a parking garage for the Islanders proportionate to the land they take. Also in the lease.
6. Rent Not Guaranteed: 70% of the rent is guaranteed in section 8 subsection 1 (I’m at work so I can’t see the lease so I don’t know the page number). With the 11.5% sharing agreement and the projections of worst case scenarios you can see the money will be made make.
7. Tax Break: Well yeah, it’s not their building or their acreage. It’s. We are already getting 11.5% of every dime made in the building, sales tax and an entertainment tax. Any more and they would have no reason to stay.
8. Other Benefits to Tenant: Yeah tenants pay nothing until they are there. That makes sense. Two accurate points for NIFA in a list of 9
9. Risk of Bankruptcy: The County is responsible for all costs if the Islanders go bankrupt and the NHL goes bankrupt and hockey, as we know it, implodes on this planet. Not going to happy.
Like I said I am a dem with no love for hockey or Mangano. I just think NIFA needs to but out and, if they have a problem with it, actually say it instead of issuing a statement but refusing to issue an official opinion. If they really thought it was a waste of money wouldn’t they stop it now instead of letting us waste more money and let it get to them? This is a joke.
Vote Yes
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The recorded address for Arenaco SPE LLC is also the head office of another entity that Mr. Wang is chairman of. The directors of that company include a John Anderson. Mr. Anderson is the Islanders alternate governor (NHL Bd. of Governors) and just happens to be a Canadian investor/businessman based in …Ontario. Isn’t Hamilton in Ontario? And isn’t Hamilton trying to get an NHL … ? Naaaah. I’m just paranoid now. The stress from all this worrying about the team is getting to me.
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Mike R. says:
The Islanders need to find a local buyer and have the team play in the Barclays Center. You can still keep the name, or even bring back The Brooklyn Americans. Te Americans were the first rival to the Rangers after they got kicked out of MSG.
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Sonic Joe says:
And they build new stadiums everywhere else…….NASSAU IS A JOKE!!!!!
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Ross says:
Why does Wang’s proposal go from privately funding a multi billion dollar project to borrowing 400 milliong tax payer dollars? CAN’T WE FIND A MIDDLE GROUND? LIKE, Wang pays for 400million dollar arena, or Wang pays for half of the arena. It goes from one extreme to the other and that is why the different political parties are attacking it. You have to find the middle ground. This is so heartbreaking, everyday its something else. Why can’t the Islanders get some luck? FOUR STANELY CUPS PEOPLE, FOUR OF THEM. Thats more stanely cups then most the teams have. WAKE UP PEOPLE.
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Dose… you’re not alone. But the one sliver of hope i have is that we Islanders do have a very dedicated, diehard fan base. Atlanta and Phoenix cannot say the same. Tradition reigns here and we can actually play the puck on our ponds in the winter. I think it would be very foolish of the NHL to let such an historic team just up and move to a different region. There are a couple other teams that need to be reclocated ie. Miami, Phoenix. Plus, NO way in hell KC gets a team. St. Louis is too close. Quebec will get Phoenix and Hamilton will get the Panthers if they struggle for another year or two, espeically with all of their “great” (HAHAHA) additions. They might go bankrupt. So… the point is, though the immediate future looks bleak, lets all pull together strong, lend each other a bit of support and encouragement and in the end, the Islanders stay on Long Island (Queens IS LI). If our worst nightmare comes to frutation, I will be the first to turn all Greece on Nassau counties a$$e$.
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Ryan says:
My first choice has always been for this team to stay right where it is, like everyone else. However, this may not be popular, but I would sign up right now for an arena in Queens or Brooklyn, guaranteeing the team stays in the NY area.
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Alright,let’s keep it together…A move to Queens is the best case scenario for the Islanders…This way we remove Kate Murray and the rest of the clowns fron Nassau County;from the equation…Think about it,the area around Nassau Coliseum is a wasteland anyway, it is not conducive to making money with regards to real estate or anything else for that matter…We are surounded by Uniondale and Hempstead…Let’s take into consideration the economic conditions that exist also…In Flushing Meadow Park, we have Citifield and the U.S.Open…Which are easily accesible by the 7 train, LIRR and numerous bus lines…Compared to the public transportation that doesn’t exist around the Coliseum…It really is a,”no brainer.” Suffolk County has zero public transportation also…In Flushing Meadow we could absorb some of the Tennis and Baseball crowds…So Charles ,if you are listening ,”Go back to your roots.”
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Ray says:
QUEENS!!!!
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John says:
Hate to say it, but it looks like NIFA has some valid points.
I have a hypothetical and if anyone can help me out, I’d appreciate it. Let us say the referendum passes but NIFA says no to the deal. Wang and NIFA negotiate behind the scenes and they change the deal a bit and both sides say OK. Would the deal have to go to public referendum again since the agreement with NIFA was different than what the public votes on?
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Mike P says:
Forget Suffolk, too far from any real civilization, too country, too suburban to support a pro team of any kind. Nassau was perfect, in between NC and Suffolk. As a die hard since 77′, I really feel Nassau doesn’t want this team. Prvate or public funding the answer is NO. I am just about ready to accept Quebec as the new home for our boys and center ice will be added to my bills. Enough is enough and all the political games make Nassau look pathetic. How could you push a pro team that generates tax revenue out ? Guess we should have asked the Nets and Jets how they feel about Nassau before setting ourselves up for failure.
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Dose: I feel your pain. Though, lets all try to get some hope here. Do you really think the NHL will let a team leave such a big market, with great history and AMAZING fans? (this blog here proves the latter) I mean, we can actually play the puck on our ponds in the winter. We have great rivalries and great tradition. I believe before Bettman attempts to move this team, Phoenix and Miami are on the chopping block. Now, I dont know, but are their fans just as concerned about their team as we? Thats why im still holding on to hope that we end up some where local. But the people here are right, Nassau does NOT dererve this team. No way, no how. Im also not sure it would be good for the face of the NHL if 3 teams, possible more, move to a new location in 3 years. That means the sport is failing. A lot of different angles need to be looked at here. I also do think Wang has two agendas. First… is the hockey team. He wants to win. He wants to win with a team from where he was raised. And we wants to win soon. He also wants to redevelope Long Island and make it a hot destination again. We should be applauding both of these efforts. So, lets band together, summon some hope and get this thing done. Luckily, my wife is French so if the absolute absolute absolute worst case scenerio happens, I’ll be able to understand the interview of JT after he wins MVP during the 2015 Stanley Cup Finals.
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Sean S says:
Isles will move, a few years down the line they will be putting in a bid to get a new team back here.
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Stumpy32 says:
Sean S – If the Isles move out of NY, Long Island will never get another professional team in any sport. The NYC area will also never get a third hockey team. You can take that to the bank.
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UIF says:
They’re waiting until after the vote to take a position. That’s not a bad thing. The fact sheet brings up concerns. Some of them are legitimate, and it’s NIFA’s job to raise them. It’s not a dagger through the heart…just a list of concerns. If they would have issued a scathing statement saying no way will they allow this, then I’d understand the wave of negativity here. They more or less said they’re going to wait to see what the people say first in the vote, which is what everyone here has been begging them to say in the first place.
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you are right. i think they’re being a little subjective though… Which a third party should not be doing.
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Stumpy – I agree, thats why I’m amazed they are even toying with the idea of the isles moving, it should be priority 1.
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Ross (119) This is the middle ground, 14M per year minumum is more than half of the annual cost to taxpayers. No one can make money building an arena they do not own.
John (124) and UIF (128) what do you think is valid about the points they make. None may be factually untrue, but that does not make them valid if they are countered by other facts that are left out. I’m not trying to be sarcastic or argumentative, but you say the points are valid or legitimate but don’t expand on that statement.
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This vote is a lose-lose… obviously if it fails, it’s over. But since they scheduled it for some random day in the summer, even if it’s a landslide of “build it” votes opponents will just say the vote was rigged to prevent people who would oppose from showing up.
As others have said, I think the best hope at this point is they are somehow able to break the Masoleum lease and move to Queens for 2012-2013. Otherwise it’s 3 or 4 more years of glorified AHL hockey in front of 3000 fans in an old and busted arena before they move anyway.
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bleedorange&blue:
Regarding the team’s NY-market-value to the league, no question the Rangers/Islanders rivalry is one of their most lucrative assets, but ONLY when both teams are legitimate contenders at the SAME TIME. It’s been so long since that’s been the case, I’m not sure it’s a consideration anymore when franchise relocation comes up. Also, and I’ve reiterated this several times, despite Bettman’s public comments and the fact that he’s a native LI’er, I seem to recall that when he assumed leadership of the league there was conjecture about, or even and his own stated opinion, that 3 teams in the NY market would seem to be oversaturation and moving one of the 3 might be prudent. It was so long ago that at the time the Devils were in bad shape and were the presumptive ‘odd team out,’ but obviously things have changed. Anyway, I’m pretty sure I didn’t imagine that whole thing. The point is, I have serious doubts as to how much of a priority keeping the team on LI is to the league. And the recent trend and effort seem to be to undo the exodus of francises from Canada and get a couple back up there. When you combine all the different factors, I’m nervous and getting nervouser.
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But just to be clear so I don’t get beat over the head for being negative, I also think that somehow there are more cards to be played, and even if the vote goes down and NIFA continues on its path, there’s more story to be told and a happy ending is still possible.
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132, DWC, and others, I believe many of you are forgetting that NIFA has no political affiliation and was created to be the County’s watchdog (since Nassau has shown repeatedly that it can’t watchdog itself). If NIFA has reservations about the lease and bonding agreement, then you can bet there is likely a valid reason. It’s not like the Dems posturing and blathering nonsense (as it would be for the other side, if the roles were reversed) – NIFA hasn’t been constructed for that.
Now, I’m not naive enough to believe that a corporation created by NYS to be purer than the driven snow, but I just don’t see what their motivation would be to kill the NVMC proposal. I don’t see how it would benefit NIFA to tank Wang’s plans.
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I don’t have a prob with Wang being on the borad of ARENACO. The man has bled money since being duped to buy this team. Nassau’s false promises of helping to get a new arena, Nassau being an absenty landlord forcing Wang to pay for arena mantainance and updrades while collecting rent and revenue. If this is his way to make back for what he’s lost then so be it. The man is in business for one reason, to make money, tell me what sports franchise owner isn’t. He tried to do it privately. I do agree that the Lighthouse was a bit much but he did try and the said NO. Now he’s trying to make them a bit of a partner and again they’ll prbbly say NO. So why bash the man and strike at his credibility when if it wasn’t for him the Isles would be loooong gone already. Although his intentions are to set himslef up and make money is evident ( no one should blame him ), he also wants to keep our Isles here. Wang bashers should remember that and give the man a little credit when he could have sold and ran years ago instead of dealing with the Nassau political circus.
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THE RETURN OF 16 EXPIRING (136) – I’m not forgetting that NIFA is meant to be non-partisan, but many members have or may in the future hold public offices. Newsday has an article today about Marlin becoming a big name in LI politics. So I think it is a part of the equation. But even if I didn’t, NIFA’s incentive to present the issue this way would be to sway the vote towards no, be able to throw more dirt in Mangano’s eye and not have to reject the deal and have responsibility for the failure.
Politics stinks.
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derek says:
This team is going to be loved and appreciated in Quebec City. Sadly, Long Island just doesn’t deserve it.
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OK, if the team moves and CB still covers I will still root, but I really cannot believe the team is in this situation. I hope the vote is a landslide, but I cannot vote since I don’t live in Nassau.
I really hope that I don’t need to add quebeccitypointblank.com to my favorites one day.
In today’s political climate you cannot trust anyone.