Two companies are vying for the chance to redevelop the Nassau Coliseum.

County Executive Ed Mangano named the Madison Square Garden Company and Forest City Ratner as finalists to revamp the Coliseum.

Both developers want to create a world class arena. MSG's plan includes a surrounding entertainment complex with restaurants and shops, while Forest City Ratner's proposal calls for a skating rink and amphitheater.

Unlike past proposals, neither plan requires taxpayer money. Both already comply with town zoning.

Mangano has asked both companies to complete contracts with their final offers for the projects.

He says he hopes the Legislature will vote by late August or early September.