New York Islanders new home stadium in turmoil after split in referendum –NHL News Update
After months of planning and propositions, New York Islanders are prepared to face a decision in upcoming days which would mean either a prosperous future for them or either a sign that they will have to find a new home during the next few seasons.
August 1 has been set as the date for a special election on which the residents of Nassau County will vote on a proposed referendum worth $400 million for the construction of a new home stadium in the area.
If the public approves the referendum through the voting procedure, it will move on to the county legislature, which will have 19 members deciding on whether such a public funding bill should be passed or not. 13 votes are needed to oblige the project, which
at the moment, look to be divided.
New York Islanders franchise owner, Charles Wang, is in a nail-biting situation and is anticipating for the best.
"Nervous I think is probably the best way to do it", Islanders owner Charles Wang said of his feelings about the election. "I think it is going to be a tight race. We believe we have something very special here. We want the people to go out there and vote
-- and vote yes, obviously".
Tax payers will ultimately be paying out of their pockets for the new proposed stadium, which would cost them a $58 raise in property taxes per household for the residents in Nassau County. According to other independent sources, the cost could also be as
minimal as $13.80 annually for each house in the region.
According to the residents, there still remains an unclear view on whether the project, which would start in June of 2012, should be approved. The outlook is that the ultimate beneficiary would be Islanders Owner, Charles Wang, and the National Hockey League
(NHL).
Wang on the other hand, regards it as an developmental program which would boost business all around the county and allow for immense revenue generation for the city.
"We have run out of time. If we don't build this, and it takes 30 months to build it at least, where are we going to play? I don't want to go there in terms of what we're going to do, but obviously we can't stay here and then we have to look at all the other
options", Wang added.
The situation seems tight but Charles Wang is hopeful. It will be exciting to see what August 1st will hold for the NHL franchise.
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