MINEOLA - Nassau is planning its next move on the heels of last night's rejection of a referendum that would have allowed the county to borrow $400 million to redevelop the Coliseum.

County Executive Ed Mangano (R-Nassau) tried to put a positive spin on the rejection of the project, saying that he is ready to hear from the private sector with ideas to redevelop the aging arena and the 77 acres of land that surround it.

"The journey for redeveloping the Coliseum begins anew today," he says.

Democratic Legislator Wayne Wink (D-Roslyn) opposed the publicly financed plan and questions why Mangano didn't look to the private sector first, before spending $2 million on a referendum. Still, he says the county might finally be on the right track.

For its part, the state watchdog agency NIFA said in a statement that it remains hopeful that in the aftermath of the failed referendum, Nassau will "devote all of its energies and efforts into balancing the county budget."

Meanwhile, New York Islanders owner Charles Wang admits that he's heartbroken following the taxpayers' decision on the redevelopment project that would've kept his team on Long Island for the next 30 years.

Developers have until Friday to propose plans for the Coliseum project.

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