This week a memorandum of understanding between the county and developers Charles Wang and Scott Rechler was filed with the county clerk's office, marking the start of the review process for the proposed $1.6 billion Coliseum development project. The redevelopment of the Nassau County Veterans Memorial Coliseum and surrounding property is Nassau County's most important development project in the last 100 years. How we proceed will influence the future of this county and fashion the footprint of the most valuable parcel of land in Nassau.

The legislature's Planning; Development & Environment Committee, with Dave Denenberg as chairman, will hold three hearings. The first, scheduled for June 8 at 6 p.m., will be a presentation by the administration; June 15, 10 a.m., will be a presentation by developers

Charles Wang and Scott Rechler of the Lighthouse Group; and June 16, 10 a.m. will focus on the financial and economic impact of the proposed plan.

Among the highlights of the Lighthouse Development Group's $1.6 billion proposal are: a $200 million renovation of the Nassau Coliseum; a commitment from the Islanders NHL team to stay until 2025; a canal lined with retail shops and mixed-use residential-commercial development; the creation of a pedestrian-friendly 'Nassau Centre;' an investment in a transportation system; the construction of a minor-league baseball stadium and the development of next generation housing. The project is expected to generate approximately $160 million in net new taxes through 2025.

The taxpayers of this county will have ample opportunity to learn about this project, ask questions and scrutinize the proposed plan for this property. I encourage you to attend these hearings. I would also like to assure residents that the legislature will be spending the next few months putting this plan under the microscope. Nassau's economic future is at stake as we move towards establishing a new tax base for our residents and move Nassau County into an economically viable future. For more information about these scheduled hearings, please call my office at 571-6216.