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Islanders Looking for Cash for New Arena

Details

Description
FBN’s Adam Shapiro discusses the efforts to replace the aging hockey arena.
Duration 1:19
Date Jun 8, 2011

This transcript is automatically generated

Eighteen men in Shapiro's outside Nassau coliseum with the detailed Adam.

It's Long Island we like hockey.

Yeah people love the New York Islanders and they -- right here at the Nassau coliseum.

Of what the veterans memorial coliseum it's been -- since 1972.

Just about everybody agrees.

This thing is adult that has to be replaced its out of date it's the smallest in the -- seats that US.

And it's also the second oldest in the NHL at least for an NHL team here's the problem Nassau County has a 176 million dollar deficit.

Now -- gonna go to the voters and ask for a 400 million dollar bond off frank.

To replace it.

We spoke to the head up policy studies today -- -- the American Enterprise Institute says.

These kinds of deals never pay off economically.

For a community listen to what he said.

This stadium costs money to build.

And it doesn't produce enough economic benefit to pay for itself so your gonna build a stadium you're gonna spend some money to do that.

And that money is gone.

But hold on a second we're gonna speak to the county executive -- -- -- how he's gonna make the case as to why that's not accurate.

He believes that this is an economic plus for Nassau County.

And -- the voters should approve it bottom line though is will they interim finance authority which now controls the finances and -- -- Downey.

Allow something to happen here even if the voters want it back to --