I'm working on my blog entry regarding the working relation between Ed Mangano's Nassau County and what NIFA is all about, frankly speaking think of Wang/Rechler vs Murray at their absolute worst days x 100.
Not even Howard Milstein vs Tom Gulotta/Smg during time they tried to take Islanders out of Nassau Coliseum for scoreboard hoists at their worst even come close.
It's that bad from my research the last few days. Charles Wang walked into a disaster between these two entities and it's as political as it gets.
NIFA (Nassau Interim Finance Authority) is criticizing the cost of a special election between 800k and 2m depending on who's spin with democrats opposed to Mangano. Apparently the agreement is Wang will pay for election only if the referendum is approved which is unheard of based on what I have read.
Deputy County Executive Tim Sullivan said Friday in a letter to NIFA Deputy County Executive Tim Sullivan that the Islanders and the county would hammer out a contract in the next month and would release financial details on costs and revenue by mid-June.
NIFA board member George Marlin Friday called Sullivan's response "sophomoric" and argued that publicly financed stadiums have been historically "great for the owners but bad for the taxpayers."
"They want to stick the taxpayers with $400 million in debt without providing an economic analysis, a feasibility study, a cost analysis, no figures in terms of the sharing of fees and no environmental impact study," Marlin said. "They went public with this without the facts."
Said Mangano in response: "George Marlin is entitled to his opinion and the voters are entitled to have their voices heard."
PT Two will be blog entry that will be released Sunday on background of NIFA/Nassau County Legislature and how poor things are between these two entities.
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