ANY politician getting any kind of positive press over this arena deal is a downright political spin. The county has to borrow 400 million dollars to build a new Coliseum. Don't get me wrong, I still believe it can work out for both Islander fans, Wang and the county. The county would have had to borrow ZERO, had they worked hard and ironed out a deal.
Let's break it down...
1) There's a lease on land with a facility that expires in 2015.
2) The county is and HAS been in debt.
3) The building which is on the land needs to be replaced.
4) If the tenant leaves, the county has to find someone else to occupy the land. (The facility has little, or no worth)
5) The tenant wants to build a new facility and come to terms on a new lease. The terms from the tenant are to build up the surrounding areas and possibly lease that land as well. (The land the tenant wants to utilize produces ZERO)
6) All the work would cost the county absolutely NOTHING. No tax payer dollars, no loan, no bond, NOTHING!
7) All the county has to do is iron out a deal with the tenant.
8) The county and the elected officials use the process as an excuse that something can't be done quickly. (They were really looking at other options.)
9) The thought of bringing a casino to the site makes the politicians think they have leverage. (GO AHEAD AND LEAVE! WHO NEEDS YOU!)
10) Casino near colleges? Uh Oh... that can't work.
11) The tenant now has the advantage, because they can pack their bags and go somewhere else. (VACANT LOT)
12) Our elected officials put their tails between their legs and go back to the tenant.
13) The town and county will lose a huge amount of money if the original tenant leaves. (Wow how long did that take to figure out?)
14) There's a press conference and everyone is all smiles... Everything is going to be great!
As an Islander fan I can't be mad, we are going to play in a brand-new, state of the art arena. Trying to figure out why it has taken this long... Makes me want to puke.
It also gets me aggravated as a tax payer and a business man... That had they come to an agreement with a project, the county would've made a profit immediately!
Typical Political B.S and bureaucracy prevail. They moved too slow and now it's going to cost money.
This is the quintessential way of how local government works and does business.