UPDATE 3/31- NEWSDAY - Coliseum gets $6M for renovation to host Isles

[gstommylee]

Probably not a terribly strong case. NYS would have been careful to check all the boxes.

THey claim it violates Urban Development Corporation Act.

" The civics have said they wanted new housing for young people to be considered as part of the redevelopment and higher-paying jobs "

my thoughts is they basically want it to be used for what they want and nothing else. I am not even sure if its legal for the land to be used for anything else like housing and what not. It depends on the zoning code of that park.

 

[KevFu]

I'm curious on grounds that the arena being put there is illegal.

edit

http://libn.com/2017/12/19/elmont-residents-plan-lawsuit-to-stop-belmont-arena/

so local residents are calling it illegal cause they had no community say on the matter for a project on state own land.

They're going to have a difficult time saying the community was misled by the state allowing a sporting venue to be built on land that has been a sporting venue site for 112 years.

The NIMBY crew of Long Island is always against building anything.

 

[GordonGecko]

I'm curious on grounds that the arena being put there is illegal.

edit

http://libn.com/2017/12/19/elmont-residents-plan-lawsuit-to-stop-belmont-arena/

so local residents are calling it illegal cause they had no community say on the matter for a project on state own land.

I think the lawsuits are a total non factor in this, there's NINMBY's everywhere you go around here but they don't have a leg to stand on for Belmont

 

[The Lighthouse]

THey claim it violates Urban Development Corporation Act.

" The civics have said they wanted new housing for young people to be considered as part of the redevelopment and higher-paying jobs "

my thoughts is they basically want it to be used for what they want and nothing else. I am not even sure if its legal for the land to be used for anything else like housing and what not. It depends on the zoning code of that park.

Agreed - even if they are able to demonstrate some violation of a statute or regulation, it doesn't necessarily follow that the remedy is to delay construction.

 

[tailgunner]

Dolan / MSG are heavy into venue operation right now and acquiring assets. They bought and renovated the Great Western Forum in LA, they bought Radio City Music Hall and the Beacon in NYC, and they are trying to grow as a live entertainment owner / operator. The Dolan family is completely out of the cable business at this point I believe. I think the go no go on this project will come down to how many muni bonds they can sell.

And the question begs...Why is Jim Dolan involved with this project? why is he helping the Rangers arch-rival? it would be like the late George Steinbrenner helping the Mets build a replacement for Shea Stadium...none of this makes sense...does this mean that Jim Dolan now partially owns a piece of the Islanders?

 

[gstommylee]

Agreed - even if they are able to demonstrate some violation of a statute or regulation, it doesn't necessarily follow that the remedy is to delay construction.

I am not even sure what they did was illegal given its a sports venue site. That limits what kind of development work can be built on that location. I think zoning code trumps the UDCA imo. The group would have to petition it to be rezoned as a non sports venue site to allow something like housing to be allowed.

 

[The Lighthouse]

And the question begs...Why is Jim Dolan involved with this project? why is he helping the Rangers arch-rival? it would be like the late George Steinbrenner helping the Mets build a replacement for Shea Stadium...none of this makes sense...does this mean that Jim Dolan now partially owns a piece of the Islanders?

Because Dolan likes making money - and he is part of an investment group that will make money off of operating the new arena.

 

[KevFu]

Dolan / MSG are heavy into venue operation right now and acquiring assets. They bought and renovated the Great Western Forum in LA, they bought Radio City Music Hall and the Beacon in NYC, and they are trying to grow as a live entertainment owner / operator. The Dolan family is completely out of the cable business at this point I believe. I think the go no go on this project will come down to how many muni bonds they can sell.

They must be thanking their lucky stars the new federal tax bill (approved today) specifically did not remove the ability for stadium/arena developers to use the munis as financing. I have to think one or more people in this project lobbied the Trump administration through contacts to make sure that didn't change

Right, MSG Azoff is into the project for the live entertainment booking options.
The Oak View Group is an investor because they're arena development masters, led by Leiweke formerly of AEG, who's built arenas and stadiums all over the place.
The Islanders co-owner is a commercial shopping center mogul.
Sterling is also a commercial real estate company.

 

[Colin226]

Because Dolan likes making money - and he is part of an investment group that will make money off of operating the new arena.

And I'm not sure many people know this, but MSG and Prudential Center entered into a formal partnership this year. So rather than always competing for shows, they can work together to land them and cross-promote.

By having Prudential Center for New Jersey and Belmont Arena for Long Island, plus MSG in NYC, that's 3 world-class venues working together in their respective "markets". And all 3 housing NHL teams that play on the MSG television channels. The arena partnership group may even be able to leverage their strength together and start pulling shows from Barclays Center (I'm just speculating, of course).

 

[Fenway]

Cuomo: Islanders ‘back where they belong’

The Governor will not let this fail

Belmont Park redevelopment renderings

Bettman seems open to the Islanders playing some home games at NVMC while Belmont is built cracking 'Well as long as you let Billy Joel open the new arena'.

 

[The Lighthouse]

And I'm not sure many people know this, but MSG and Prudential Center entered into a formal partnership this year. So rather than always competing for shows, they can work together to land them and cross-promote.

By having Prudential Center for New Jersey and Belmont Arena for Long Island, plus MSG in NYC, that's 3 world-class venues working together in their respective "markets". And all 3 housing NHL teams that play on the MSG television channels. The arena partnership group may even be able to leverage their strength together and start pulling shows from Barclays Center (I'm just speculating, of course).

And I think that's where Oak View comes in - scheduling acts to come and play as part of the partnership.

 

[KevFu]

And the question begs...Why is Jim Dolan involved with this project? why is he helping the Rangers arch-rival? it would be like the late George Steinbrenner helping the Mets build a replacement for Shea Stadium...none of this makes sense...does this mean that Jim Dolan now partially owns a piece of the Islanders?

These are all leaders of corporate empires. Jim Dolan isn't JUST the Rangers owner. MSG Azoff is in the live entertainment business. So if the options are "invest in a new venue that's going to book concerts" or "NOT invest in a new venue that's going to book concerts" MSG Azoff is going to pick investing. Because they get a cut, and booking concerts becomes COOPERATIVE between the venues, rather than competition.

 

[gstommylee]

Another thing about the lawsuit even if the lawsuit is sucessfull what stops the state from approving it agian anyways even they considered non sports related redevelopment.

 

[Fenway]

This is a good day for hockey

31 Thoughts: New York Islanders arena deal a massive victory


If Long Island had chosen MLS’s New York City FC plan for a soccer stadium, the Islanders would have rocketed to the top of relocation rumours to Houston, Quebec City or Seattle. Now that storyline is dead and buried. This is where they belong. We just need Islanders/Rangers in the playoffs to really re-ignite things.

This is a massive, massive victory — particularly for Ledecky, who has gone out of his way to put a positive face on ownership. You can tell Islanders fans truly like him and wanted to believe in his ability to deliver, but there was a not-so-deep-down worry that yet another disappointment awaited them at the end. Not this time.

They chanted, “Yes, yes, yes,” at Ledecky during the media conference. He replied that they “deserved” the arena. New York Governor Andrew Cuomo petitioned NHL Commissioner Gary Bettman to play some games at the old Coliseum in the interim, with Bettman replying he’d consider it if Billy Joel (who was in attendance) opened the new arena.

 

[Cyclones Rock]

The NYRA (New York Racing Association) has thrown its weight behind the new arena.

New hockey arena part of larger Belmont Park renovation project | Daily Racing Form

ELMONT, N.Y. – New York Racing Association officials believe a new hockey arena, hotel, and retail space announced Wednesday for Belmont Park is the next step in revitalizing the track and the Thoroughbred racing industry in New York.

 

[Llama19]

The NYRA (New York Racing Association) has thrown its weight behind the new arena.

New hockey arena part of larger Belmont Park renovation project | Daily Racing Form

Well...if this analysis/opinion is true...overall, thoroughbred racing is still in decline...

Source: www.thoroughbreddailynews.com/so-hows-horse-racing-doing-compared-to-eight-years-ago/

 

[CHRDANHUTCH]

Well...if this analysis/opinion is true...overall, thoroughbred racing is still in decline...

Source: www.thoroughbreddailynews.com/so-hows-horse-racing-doing-compared-to-eight-years-ago/

not just Thoroughbreds, Standarbreds, as well, see Yonkers, Llama, and not just NY

 

[Fenway]

You can bet the farm that the Mayor of Calgary is very happy with this development.

Islanders Say New Arena Will Be Privately Financed

The state’s top development agency, Empire State Development, accepted the Islanders’ proposal for an 18,000-seat arena adjacent to the Belmont Park grandstand. The arena will host at least 41 Islanders games a season and other events. A 400,000-square-foot retail village and a hotel are also planned in the $1 billion project.

The Islanders’ majority owner, Jon Ledecky, did not say how much the arena itself would cost, but he said it would be privately financed.

“We’re not looking for government funds,” he said.

Wednesday’s event was a victory lap for Ledecky, who became the Islanders’ majority owner with Scott Malkin in 2016. He has sought a way out of the team’s unhappy marriage with Barclays Center in Brooklyn for much of the time since.

 

[Melrose Munch]

I think that nothing has changed since yesterday, we all knew the bid would be accepted. Hopefully they get the financing lined up but I still think it's going to be hard to raise the money privately and that there's no way the State can sell giving public funding of any kind. I'm sure the Islanders consortium will ask for PILOTs to issue the muni bonds and Cuomo will probably let that go through (along with LIRR upgrades from the MTA), but I don't know if that's enough to justify the arena cost.

The project partners are mainly interested in the complex components of this (shopping & dining, hotel rooms, etc...)

There are enough investors behind the group, and having Cuomo behind this of course is big.

Dolan / MSG are heavy into venue operation right now and acquiring assets. They bought and renovated the Great Western Forum in LA, they bought Radio City Music Hall and the Beacon in NYC, and they are trying to grow as a live entertainment owner / operator. The Dolan family is completely out of the cable business at this point I believe. I think the go no go on this project will come down to how many muni bonds they can sell.

They must be thanking their lucky stars the new federal tax bill (approved today) specifically did not remove the ability for stadium/arena developers to use the munis as financing. I have to think one or more people in this project lobbied the Trump administration through contacts to make sure that didn't change

Another issue is the Isles attendance. I think 18k is too much. It should be 16k, looking at the history of the team.

 

[gstommylee]

You can bet the farm that the Mayor of Calgary is very happy with this development.

Islanders Say New Arena Will Be Privately Financed

The state’s top development agency, Empire State Development, accepted the Islanders’ proposal for an 18,000-seat arena adjacent to the Belmont Park grandstand. The arena will host at least 41 Islanders games a season and other events. A 400,000-square-foot retail village and a hotel are also planned in the $1 billion project.

The Islanders’ majority owner, Jon Ledecky, did not say how much the arena itself would cost, but he said it would be privately financed.

“We’re not looking for government funds,” he said.

Wednesday’s event was a victory lap for Ledecky, who became the Islanders’ majority owner with Scott Malkin in 2016. He has sought a way out of the team’s unhappy marriage with Barclays Center in Brooklyn for much of the time since.

The team wasn't going to relocat outside of the New York market anyways so i don't see how this has anyhting to do with Calgary's situation.

 

[Fenway]

The team wasn't going to relocat outside of the New York market anyways so i don't see how this has anyhting to do with Calgary's situation.

Elliotte Friedman thinks otherwise

If Long Island had chosen MLS’s New York City FC plan for a soccer stadium, the Islanders would have rocketed to the top of relocation rumours to Houston, Quebec City or Seattle. Now that storyline is dead and buried.

 

[gstommylee]

Elliotte Friedman thinks otherwise

If Long Island had chosen MLS’s New York City FC plan for a soccer stadium, the Islanders would have rocketed to the top of relocation rumours to Houston, Quebec City or Seattle. Now that storyline is dead and buried.

Eh i don't think bettman would have allowed that team to move out of the new york market.

 

[Rocko604]

The team wasn't going to relocat outside of the New York market anyways so i don't see how this has anyhting to do with Calgary's situation.

Calgary can point to the private financing and say "why do we have to pay but they don't?"

 

[gstommylee]

Calgary can point to the private financing and say "why do we have to pay but they don't?"

Yea but the flames has a greater threat of leaving to go somewhere else than the islanders have.

 

[MNNumbers]

Yea but the flames has a greater threat of leaving to go somewhere else than the islanders have.

Obviously, it's news which can be spun however you want.....

If you want to think about the city's side, you say.....
That's a privately funded arena. Seattle's is going to be a privately funded arena. There is no reason that Calgary's Flames should need the city to pay the major portion of a new arena.
Which makes this GOOD NEWS for the city.

Or, you can say.....
Quebec, Houston and Seattle all are awaiting teams.
Florida is tied to a lease for a few years. So is Carolina. The Islanders are now set on Long Island for a long time. There are fewer and fewer possibilities of teams to move to those places. Therefore, the threat of moving becomes stronger for the Flames.
In which case the news should strengthen the Flames' hand, NOT the city's.

Everyone sees what they want to in every piece of news....