UNIONDALE, L.I. (WPIX)—It's down the wire in Nassau County, Long Island
What will happen to the Nassau County Coliseum and the hockey team that calls it home. On Monday will voters approve a plan to borrow 400 million dollars to pay for a new hockey arena and minor league ballpark?
As for building a replacement for the Nassau County Coliseum, if voters give the $400 million borrowing plan a thumbs down, the New York Islanders might move out of town ,when the team's lease expires in 2015 -- or the owner might just sell the team.
Borrowing so much money would be controversial in good economic times. But, in the middle of an economic downturn, it's even more contentious -- especially in Nassau County which is reportedly facing a $100 million budget deficit this year.
The plan for new construction calls for a replacement for the coliseum: A minor league baseball park, and reportedly a possible track and field facility.
It would call for an estimated four percent increase in county property taxes to foot the bill, but the proposed new arena would send a portion of its proceeds back to Nassau County -- even if voters say "yes," the county legislature could still step in and say no.