Friday, July 15, 2011

County-wide Vote Scheduled for Aug. 1 on Funding for Coliseum Redevelopment

Nassau County has scheduled a special election for Monday, August 1, on a referendum to fund a a new sports and entertainment complex at the Nassau Coliseum site in the Town of Hempstead. Referred to as the Hub, the proposed development would include a sports arena that would accommodate the New York Islanders professional hockey team and a minor league baseball stadium. Should residents approve the measure, County Executive Edward Mangano has said that construction would likely begin in 2012 and the facility would open no later than 2015.

Vote at your local polling place unless you received other instructions from the Nassau County Board of Elections. Polls will be open from 6 A.M. to 9 P.M.

The referendum reads: Shall a Local Law be approved to establish “The Nassau County Hub Area Development Program” (the “Hub Program”) and to (i) authorize the expenditure of up to $400,000,000, to be bonded by the County and expended solely for the construction of projects in the Hub Area including a new Nassau Coliseum, a minor league baseball stadium, and other economic development projects, (ii) established a line on property tax bills dedicated to the payment of the debt service associated with the Hub Program, and to (iii) to establish a special revenue fund dedicated exclusively to the payment of the debt service on the bonds issued pursuant to the Hub Program?

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