Community Corner
Question of the Day: How Will You Vote Aug. 1?
County exec signs bill to hold a county-wide vote to fund a sports and entertainment complex with a new coliseum as its focal point.
County executive Ed Mangano signed a bill Tuesday to hold a county-wide vote on Aug. 1 to fund a sports and entertainment complex with a new coliseum as its focal point.
The move followed an 11-7 vote by the Nassau legislature.
The county would have to borrow $400 million worth of bonds, authorized by the voters, in order to pay for the new coliseum. If approved, the cost of the bonds would add between $58 and $48 in taxes to each home for 30 years.
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The bonds would add $58 in taxes to each home if they are taxable and $48 if non-taxable bonds are issued, according to the office of independent budget review.
NIFA, the state oversight board in charge of Nassau's finances, must approve any borrowing.
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Wednesday's Question of the Day: How will you vote Aug. 1? Let us know in the comments.
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