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Xmas -- -- to the and Long Island New York a controversial plan is being proposed to build a decrepit from and -- -- professional hockey reading using millions.
Taxpayer dollars are -- trying to build one for the first time since the seventies kind of Shapiro is with the Fox Business Network.
And he has the arena details they get a vote on it in August data.
And taxpayers will be paying.
For a new Bill Clinton.
That that's accurate you see behind me the Nassau coliseum home of the New York Islanders and this place essentially no matter who you speak do.
Is really they call it adult it's fallen apart it's outlived its usefulness everyone here agrees it needs to be replacement had to pay for it.
The county is hundreds of millions of dollars in debt it's -- -- financial authority seed in the county legislature doesn't have final say on spending but they're asking the voters to approve an additional 400 million dollars in debt.
To replace this facility because one if they don't they will lose the islanders and two in 2015.
But there -- also making the argument at the county level that this place or a new one would create more jobs and spur economic growth.
But study after study indicates that that's just not the case we even -- an expert Kevin has it at the American Enterprise Institute.
What he thought and here's what he said.
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 -- -- 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.
And bottom line on this thing it's gonna raise property taxes for people in Nassau County if it's approved and allowed -- go through and they haven't even finalize the revenue sharing deal which they say will be unique in the first of its kind in the country.
And yet when I -- -- is would be more palatable more feasible if they -- -- loans guaranteed loans to low interest loans to get it done.
Because there's a long islander we have no major sports along -- And I will hold you personally responsible if we can actually -- -- -- -- there even -- ranger fan.
Hey I gotta tell you something shot in the control room said that you can't call the islanders professional sport caught -- But hey -- You would get low interest loans if the voters approve it and the finance authority at the state level approves the bonds those of the municipal bonds which carry -- lower interest rates and what that is that what the county is promising at me again over the county executive.
Is that the revenue sharing plan would pay back the taxpayers over roughly thirty years but again the taxpayers are taking them at their word for that.
I will believe him I Adam thanks -- -- report dog it's now a national story global you'll know by August 1 whether it's gonna get voted up or down or not thanks at.
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