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Nassau Coliseum redevelopment plan approved

September 23, 2013 5:54:34 PM PDT
A $229 million proposal to renovate a suburban New York sports arena has received the support of Nassau County lawmakers.

The county legislature voted unanimously 19-0 to support the plan. The deal still requires the approval of a state financial watchdog.

County Executive Edward Mangano announced last month that he had selected a group headed by Bruce Ratner, executive chairman of Forest City Ratner Companies, to renovate the 41-year-old Nassau Coliseum. Ratner built the Barclays Center in Brooklyn.

Newsday (http://bit.ly/18SFnX7 ) reports Ratner's plans include a 13,000 seat arena and an adjacent plaza with shopping, restaurants and amenities.

He will pay $4.4 million annually in rent. That figure rises 10 percent every five years.

The New York Islanders recently announced they will leave the coliseum for Brooklyn after the 2015 season.

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