According to BD Gallof the Nassau County Democratic Committee have sent out another email to people associated with them bashing the Coliseum referendum. This time they say that its not right to subsidize private profit with taxpayer money. They say that's the reason they oppose the plan!
They say the awful editorial from the daily news a few weeks back shows how Wang would make a killing on the plan and the taxpayers would essentially be screwed!
Lastly the most mind boggling part of the email is that they say Wang is a billionaire (which he isn't) and that Nassau County is a billion dollars in debt (which they aren't) & they say that Wang can afford to build a new Nassau Coliseum and we can't. They ignore the fact that he doesn't own the building & its not good to flush 350 mil down the toilet which he would essentially be doing if he paid for the building of a new building without getting ownership of it from the County.
http://www.tweetdeck.com/twitter/BDGallof/~PTHQG
Thanks to a great job by Dave, Nick Giglias newest co-writer on lettherebelighthouse we know that with all the complaining dems. are doing with regard to this, the projections they had done with regard to the Lighthouse were 30% higher then the ones Mangano has had done. So if Mangano & co's projections are rosy then what the heck does that say about those?
Nassau County has over 3 billion in long term debt. We will pay over 355 million dollars in interest and principle in 2011. The way this bond is structured property owners will pay the entire cost over 30 years. As a property owner I will vote no on Monday.
ReplyDeleteWhere did you get that we'll be paying 355 million this year alone? That isn't true at all! Payments won't start til next year & the debt service will be 25.6 million. Not 355 million, I have no clue where in the world you got that number from.
ReplyDeleteNo they won't, Wang is paying for this through revenue sharing over the course of the lease & Camoin Associates study said that they projected that Nassau will see 402 mil in PROFITS from this.
The fact that Dems are criticizing this is laughable because the projections being used here are 30% LOWER then the ones used by the Dems back in 06 when they had studies done for the refurbishing of the Coliseum. So if these projections from the Republicans are rosy then what the heck are those?
You have every right to vote no, however I strongly disagree with you & urge you to reconsider your vote because voting no will only lead to a worse Nassau County & noone wants to see that!!