Newsday · Nov 20, 2020
New Coliseum leaseholder gets break on rent
Nassau County has agreed to let the new leaseholder of Nassau Coliseum off the hook from paying rent until at least the summer in a deal that also guarantees that the Islanders can use the arena if needed during the COVID-19 shutdown.
The lease amendment, which requires approval by the Nassau County Legislature, calls for rent relief that continues until six months after the state lifts all restrictions on arena events.
Under the current lease, Nassau County collects more than $4 million in annual rent from the Coliseum leaseholder. The county is filing paperwork to get the amendment before the Legislature at a hearing Monday.