At a recent press conference held by Nassau County Executive Ed Mangano and New York Islanders owner Charles Wang, a new lease agreement was announced that would keep the Islanders in Nassau County until 2045, pending voter approval of a new arena.
Camoin Associates, an economic analysis company the county and team invited to the press event, said the agreement would generate $1.2 billion in tax revenue over the life of the lease.
The revenue will be used to pay off the $350 million in construction costs associated with the new arena and $433 million in debt service payments, while an estimated $403 million in profit would be returned to taxpayers.
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