Three Distinguished Business Leaders Tapped to Serve

Mineola, N.Y- Nassau County Executive Thomas R. Suozzi today announced the creation of a three-member Advisory Panel that will assist the County Executive in the review of four proposals to redevelop the Nassau Veterans Memorial Coliseum site.

The panel is comprised of three distinguished business leaders with decades of combined experience in the area of real estate and civic affairs. Suozzi also set a timetable for the review and said each developer will be given an opportunity to present their plans to members of the public, the Advisory Panel, County Executive and members of the Legislature at a public meeting later this month.

Suozzi formed the panel as part of an ongoing effort to ensure a fair, open and competitive process as proposals for the 77-acre site are being evaluated. The county’s goals for the site include a renovated, state-of-the-art arena at no cost to the taxpayers with additional and enhanced transportation and thousands of new housing units that will create a “Nassau Centre” consistent with the Suozzi administration’s visions of “New Suburbia.” Under the plan, the site will become a proud destination point for Nassau residents as well as visitors to the county, enhancing the county’s economic activity, employment opportunities and tax revenues.

The selection of a developer for the site will occur by year’s end, Suozzi said.

The following three individuals have agreed to serve on the Advisory Panel: George Ross, Executive Vice President of the Trump Organization; Robert M. Pascucci, President of Jobco Inc.; and Dorothy Herman, President & CEO of Prudential Douglas Elliman.

“I am grateful that each of these very busy and successful real estate experts has agreed to take the time to help me evaluate proposals for what will be the single most important commercial development on public land to occur in recent Nassau County history,” Suozzi said. “We are fortunate to have their expertise as part of the process to select one developer from four strong and intriguing proposals for the Coliseum site.”

Suozzi and the Advisory Committee have invited the developers to present their proposals at a public meeting on October 27th at 10 am at One West St., Mineola, 5th Floor. Members of the Nassau County Legislature and the public are invited to attend. As part of the review process, the public is also welcome to submit written comments or questions about the proposals in writing until Nov.4, 2005.

Ross is the Executive Vice President and Senior Counsel for the Trump Organization and serves as a judge on the hit NBC show, “The Apprentice.” Ross has been a real estate attorney for more than 50 years, assisting with the acquisition and development of major buildings like the Chrysler Building, Trump Tower, Grand Hyatt and Olympic Tower. He is responsible for development of foreign investments and supervision of leasing and operation of 40 Wall Street, the landmark 72-story building directly across from the New York Stock Exchange as well as Trump Tower, the world-renowned Fifth Avenue skyscraper.

Pascucci, the President of Jobco, is a licensed professional engineer and attorney at law, as well as a member of the Green Vale School Board of Trustees, the Nassau County AHRC Foundation Board, the Madison Square Boys & Girls Club Bronx Board of Managers, and the Glen Cove Boys & Girls Club Board of Managers. With Jobco since 1980, Pascucci oversees all development and residential property management operations.

Herman is the President and CEO of Prudential Douglas Elliman, New York’s largest residential real estate brokerage with 3,000 real estate professionals and 650 employees working in 60 offices from Manhattan to Montauk. Herman began her career on Long Island, purchasing Prudential Long Island Reality in 1989. Under her leadership, Prudential Douglas Elliman has become a $10 billion business and is set to hit $12 billion in 2005.

In addition to the Advisory Panel, three consultants hired by the county who are expert in the areas of real estate appraisal, sporting arenas and economic impact will provide additional input on the proposals. Three developers met the Oct. 3rd deadline to submit plans. They will have until Oct. 17th to provide supplemental information. The proposals being evaluated include a joint one by Charles Wang, the owner of the New York Islanders, and Reckson Associates Realty Corporation, which proposed a $1 billion development featuring a 60-story “lighthouse” with a five-star hotel and condominium units. The New York Mets, Sterling Equities and Blumenfeld Development Group’s $1.4 billion proposal includes a minor-league baseball stadium. Polimeni International and The Cordish Company proposed a $725 million development centered around a 600,000-square-foot government center. Engel Burman’s $800 million plan includes four 15-story condo towers and senior housing.

The Suozzi administration has worked to develop interest in the Coliseum site as way to ensure a refurbished home for the New York Islanders hockey team while increasing tax revenue for the county and creating better uses for the centrally-located, valuable open space in Uniondale.

“I would like to thank the firms that responded to our Request for Proposals and ensure each of them and the public that we will be giving each proposal a full and careful evaluation as part of our effort to pick the very best one for the site,” Suozzi said.