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Redick is all over the place and Long Island New York specifically in the cash strapped county of Nassau still they are seeking taxpayer approval for a 400 million dollars and -- -- replaced the old coliseum.
The Nassau coliseum but some say politics -- are still at play here.
Things need to stop lying to people.
They -- 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 go watch a game but you should not build a stadium because you think it's great economic development strategy.
Now live now to -- -- mausoleum coliseum for Adam Shapiro is standing by -- union dealt with the other side of the story that'll.
Seed yeah how I -- -- and islanders now.
Yeah I think there are people refer to it as the -- lea 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 -- -- like Nassau which is a 176 million in debt facing him roughly the same kind of debt next fiscal year.
Have the wherewithal to finance a new project let's speak with -- senior vice president of the New York Islanders and find out what's the best case you could make as to why this county why the voters should take on this debt to rebuild -- build -- new stadium.
-- it's it's actually easy work crane that partnership with Nassau county and its residents not only for the arena.
But -- to see the -- around the arena we can create a partnership over.
-- next thirty years -- the islanders are here in order to bring jobs in the tax money so -- needed.
So you talk about judge 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 -- 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 went and we talked and accounting 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 -- -- -- pay back into the county coffers in order to offset the cap the cost of government.
Again not only on the arena but the development around it but if it's such a great deal.
Why not do a privately.
Because the economics in total will come out better at the end of the day for for for everybody involved there -- -- this public private partnership.
And -- the experts the economists who study that say that's not true that it actually it why it does wind 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 or 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.
Of the activity that's in the arena 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 Kevin -- excuse -- Michael thicker -- senior vice president of the in New York Islanders thank you very much for joining us live plus at a business.
We're going to be speaking.
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