By PETER THORNE
4:31 AM EDT, August 1, 2011
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.
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