According to Newsday, an agreement has been reached by Charles Wang and County Executive Edward P Mangano to give Wang control of the entire 77 acre parcel of land surrounding the Nassau Coliseum.
Newsday says that under terms of the agreement Wang would get the site exclusively for the new hockey arena and surface parking. Surface parking is far less expensive then either underground parking or a parking garage. Terms of the agreement may still change though according to the article because of its lack of mixed use.
Ok, so the Lighthouse wasn't popular with some people because it was to big, but now there causing trouble with this because its not big enough, only in Nassau County!!!
Future development on the site maybe possible according to the article. For future development a request for proposals would be opened to developers other then Wang. They say that any future development would have to replace the parking spaces on which it would sit.
In exchange for use of the site Wang would provide a percentage of Coliseum revenue to Nassau County. It would be a minimum annual payment however the size of said payment hasn't been made public yet however should be sometime this month.