Pro and con on Nassau Coliseum redevelopment
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The county is expected to prepare a request for proposals for development around the Coliseum. Vision Long Island encourages this development to include an integrated mix of uses, various housing options, including a work force component, accessibility to public transportation, walkable streets and a strong, safe link to Hofstra University, Nassau Community College, Museum Row and offices in the area. Additionally, we hope to see ample state and federal dollars for infrastructure improvements around the new development, which was absent from previous proposals.
Long Islanders need jobs. One of the region’s most pressing challenges is to keep workers, including young workers, from leaving the area. Revitalizing the Nassau Coliseum would not only create a regional high-quality entertainment hub that would cater to a wide demographic range, from the very young to seniors, it would also create expanded employment opportunities for residents of a densely populated area.
According to Nassau County’s economic impact statement, the project would provide a positive cash flow of $2.2 million annually, in excess of the debt service of $26 million. The new Coliseum would attract about 1.37 million visitors each year, versus the no-build alternative of 100,500 visitors — or far fewer if the Islanders ultimately move.
The $400 million bond proposition would provide key infrastructure and facility financing in and around the Hub area. This bond could spur critical economic growth for Nassau County. After careful analysis and discussion with business and government leaders, we believe this plan to be responsible and appropriate.