The Wang-Reckson plan fizzled owing to inside baseball in the Town of Hempstead. I won’t go into the details because that’s water under the bridge, but I want to remind county taxpayers that we came close to getting a new Coliseum financed entirely by private enterprise. That’s the solution we need to pursue today, because the county can’t afford to take on $400 million in new debt to pay for this project.

If voters approve this massive bond on Aug. 1, the county will have to pay about $26 million in debt service every year for the next 30 years. In return, the county will receive about $14 million in profits from the new Coliseum. That would leave taxpayers on the hook for $12 million to cover the rest of the debt service — every year for the next 30 years.

Unless my calculator is broken, Mangano must be stringing us along when he says his Coliseum plan wouldn’t cost taxpayers a thing. It’s hard enough to raise a family on Long Island. Our finances are already stretched to the limit by the cost of owning a home, sending our children to school and paying the taxes that accompany all of these things. We can’t afford to increase our property-tax bills by paying for a project that Mr. Wang could easily finance himself.

Nassau County is proud to be the home of the Islanders. We’d love to have a new arena, but we simply don’t have the money — not in the county’s coffers, not in our overstretched budget and certainly not in taxpayers’ pockets.

Jay Jacobs is chairman of the Nassau County Democratic Committee and the New York State Democratic Committee.