Municipal Government

Coliseum Development Needed for Nassau County

July 26, 2011
By Ed Mangano, Nassau County Executive

I have been working hard, leading the fight to rebuild our economy, creating more private sector jobs and transforming Nassau County. Since taking office, I have stopped a planned 16.5% property tax increase, cut over $171 million in annual government spending and eliminated the County Energy Tax on homeowners bills (the equivalent of a 5% property tax reduction).

All of these successes are real solutions that I have long championed. It’s not about credit – it’s about fixing Nassau’s problems. However, as important as these accomplishments were, there are miles to go. Challenges still remain:

We still have thousands of unemployed Nassau residents

Our property taxes are still the highest in America

New York’s economic recovery still lags behind the other 49 states

Job creation and tax relief are a must

My Economic Development & Job Creation Plan for Nassau County provides the solutions needed to address these remaining challenges

The plan is simple

According to economist Marty Cantor, “for every $1.00 invested in the Coliseum construction an average of $1.46 in new Nassau County revenues are expected to be generated.”

These funds will help me hold the line on property taxes

Independent economists report that residents will get tax relief by sharing in the profits of a new sports arena.  Residents earn a share of every event ticket (concerts, hockey games, circus, etc.), hot dog, popcorn, and soda sold at the arena.  Over 30 years, residents get $403 million from this deal – all of which can be used for tax relief.

Not only does this deal provide tax relief for homeowners, it also creates over 3,000 new permanent jobs and 1,500 construction jobs at a time when our residents need employment the most.

Tax relief + job creation = great news at a time when Nassau needs it the most.

On August 1st, you can put Nassau County on the right path by voting in a special election to create jobs, provide tax relief and build a new sports arena and ballpark. Help build a better, brighter future for our County. Vote August 1st.

July 25, 2011

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