WOODBURY - A task force made up of developers, architects and lawmakers unveiled a new $346 million development plan for the Nassau Coliseum today.

The proposal would create a sports and entertainment complex with a facelift for the aging arena, while constructing a minor league ballpark, restaurants and shops.

The commission that developed the plan says that unlike the previous proposal, which was shot down by taxpayers in August, this plan would be funded solely with private money.

New York Islanders owner Charles Wang says that without a renovation plan in place, he will move the team once the lease is up in 2015.

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