By Brian Bohl
Long Island has been deprived of a world renowned national landmark for too long. At least that’s the way billionaire Charles Wang sees it. Recently the former Computer Associates founder and current New York Islanders owner has said that residents of Nassau and Suffolk counties deserve an institution that espouses the greatness of their hometowns.
“Currently, we don’t have an icon that represents Long Island,” said Wang. “We should have something that truly tells the story about who we are as Long Island people.”
On the surface this is a reasonable statement, but it is colored by the fact that Wang would profit immensely if such a project came to fruition. The plan in question is called the “Lighthouse at Long Island,” which encompasses a $1 billion renovation project to transform the five-acre Nassau Veterans Memorial Coliseum and 72 acres of surrounding area. It also entails a new state-of-the-art athletic complex and 60-story tower that would be part luxury hotel, part condominium. On the surface this appears to be a positive step toward modernizing the area. After all, the move would give Long Island a new arena instead of the decrepit Coliseum that is currently the second oldest arena in the NHL, along with increased office and meeting spaces to attract business.
So what is the problem? The logic of the plan breaks down in the transfer of the land. Currently an individual acre of the aforementioned land is conservatively estimated to be worth somewhere between $800,000 and $2 million. According to Newsday, Nassau County Executive Tom Suozzi would transfer the land to Wang for $200,000 to $324,000. This is unacceptable and probably will not garner the approval needed by state lawmakers in Albany, the Nassau Legislature and the Town of Hempstead. The fairest way to ensure the county gets maximum value for its land is to open up negotiations to all competitive bidders instead of giving a billionaire exclusive rights to one of the few pieces of valuable real estate the county has left.
Wang, predictably, does not buy into this common sense logic. He has refused to compromise at all, saying he would not accept a condensed version of his grand vision. When a local paper recently asked if he would accept any other proposals, Wang said, “No, I don’t want three 20-story buildings. I want something that stands for Long Island and makes people say ‘Oh my God, would you look at that.'” Wang wouldn’t want a smaller project for the simple reason it would mean less money infiltrating his coffers. Most Long Island residents could care less if the buildings were 10 or 20 stories so long as their taxes were not affected. Wang’s vested interest in the project makes it impossible for him to objectively comment on the will of the people. His desires do not coincide with those of the people. If he wants this project to be realized, he should submit the largest bid. Until that time comes, he should have no more clout when it comes to government owned land that any other tax-paying citizen.
Before a new arena is built for a sport that has not even been in operation for a full year, the County Legislature should take into account that the new complex would deter funds and labor resources away from more pressing issues on Long Island. Before a new first class condominium complex is built, Nassau County lawmakers should find a long term solution to affordable housing. The increasing traffic problems should be addressed before Hempstead Turnpike becomes another large parking lot attempting to funnel the vehicles into the new Lighthouse Complex. Nassau County is projected to have $397 million deficit by the end of the 2006 fiscal year. Continuing to curtail expenses should be the prerogative of the County instead of spending a billion dollars to make one particular wealthy man happy.