Sunday, July 10, 2011

Referendum News!!

According to newsday, there are two pieces of news tonight with regard to the referendum which will be voted on by Nassau County residents on August 1st.

First, is that the Nassau County Board of Elections has submitted the language for the referendum. One of the big things to note is that the referendums wording sets up a special revenue fund dedicated to paying back the interest and the principal on the bonds. This I believe was something legislator Denenberg was pushing for as an amendment prior to the May 31st vote but was voted down because it was thought of as not timely. This could be evidence of comprising that has went on behind closed doors to get some democratic legislators on board should this get a thumbs up from the public. For the rest of the info check out the newsday article below:

http://mobile.newsday.com/inf/infomo;JSESSIONID=619BEDEA9A3DA4FC84F1.3124?site=newsday&view=longisland_item&feed:a=newsday_5min&feed:c=longisland&feed:i=1.3016704&nopaging=1

Secondly, is that Nassau County has chosen the proposal submitted by Frank Boulton, who is the owner of the Long Island Ducks, for the minor league ballpark that would be part of this development. A few weeks ago, both the Ducks as well as the Mets had submitted proposals. At that time it came out that the Ducks proposal would result in the County receiving $200,000 more from the Ducks then the Mets so I am not to surprised they picked the Ducks. The Ducks owner said today following the announcement that he expects to have a lease deal with Nassau similar to Suffolk. The only thing that would be different is that in Suffolk revenue from the naming rights are kept by the team, in Nassau he proposed to split that with the county. Another thing of note from the article is that although the referendum allows for 50 million dollars to be spent on the minor league park, county officials expect the cost to be closer to around 25 million. For more visit the link below:

http://mobile.newsday.com/inf/infomo;JSESSIONID=3D2AF3B649C869249A0C.3128?site=newsday&view=top_stories_item&feed:a=newsday_1min&feed:c=topstories&feed:i=1.3016656&part=1

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