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NY Islanders Senior V.P. Michael Picker on the proposal to build a new arena to replace Nassau Coliseum.
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-- -- is all over the place and Long Island New York specifically and the cash strapped -- of Nassau but still they are seeking taxpayer approval for a 400 million dollars and county -- to replace the old coliseum.
The Nassau coliseum but some say politics -- are still at play here.
Politicians need to stop lying to people.
Many to stop asserting that these stadium pay for themselves and create a zillion jobs they don't.
And you might want to build a stadium if it's a good idea because you love sports and you wanna -- watch a game but you should not build a stadium because you think it's great economic development strategy.
Now live now to the -- mausoleum coliseum -- Adam Shapiro is standing by in union dealt with the other side of the story that'll.
-- How I guess -- and islanders spend now.
Yeah I think there are people referred to it is the -- -- -- look everybody agrees this place is Saturday it's forty years old.
It's got leaks it's got severe problems it just is antiquated smallest facility in the NHL.
And doesn't serve its purpose anymore.
But does accounting like Nassau which is a 176 million in debt facing -- roughly the same kind of debt next fiscal year.
Have the wherewithal to finance a new project let's speak with the senior vice president of the New York Islanders and find out what's the best case you could make as to why -- -- -- the voters should take on this debt to rebuild -- build -- new stadium.
Politics actually easy -- Crane that partnership with NASA -- in its residents not only for the arena.
But -- to see the -- around the arena we can create a partnership over.
-- next thirty years -- beyond measure here in order to bring jobs in the tax money so -- needed.
So you talk about you just said jobs and tax money so badly needed and partnership.
But study after study after study and we interviewed Kevin has -- from the American Enterprise Institute said.
It's an economic watch there is no job creation there is no pure economic gain for counties when they do this or for cities -- they do this if that's true.
And if it's such a great deal what did you go to the private markets to finance it.
Well we what do we -- -- -- -- we looked at the best way to get the best that service out there own it and it was through public financing so we created the opportunity through the partnership.
To be easily pay back into the county coffers in order to offset the -- the cost the government.
Again not only on the arena but the development around -- but if it's such a great deal.
Why not do -- privately.
Because the economics in total will come out better the end of the day for the for everybody involved -- -- -- this public private partnership.
And -- the experts the economists who study that say that's not true that it actually it why it does -- up costing counties and cities that build stadiums nationwide.
More than they're told and when asked voters to approve.
Well first of all you have to know the economics are not can be released a mid June.
So you can't make a decision just found that -- you don't know what percentage were paying and how what how the the team in the arena are going to be paying back.
Their share.
Of the activity that's in the -- so just to make a general statement about what an economist said it's very difficult obviously come to that conclusion unless you have more information.
All right I'm Kevin Pickett thank you very -- -- excuse -- Michael thicker than senior vice president of the in New York -- thank you very much for joining us -- -- at a business.
We're going to be speaking.
