Islanders owner Charles Wang said Thursday that he is not abandoning The Lighthouse, the $3.7 billion project that would redevelop the area around Nassau Coliseum. A report Wednesday by The Long Island Press stated Wang plans to pull the plug on the project.

?Yesterday's report on the Lighthouse project which appeared in the Long Island Press is untrue," Wang said in a statement.

Nassau County Executive Tom Suozzi says Wang is becoming frustrated the Town of Hempstead Board has not yet made a decision on the plan. Town Supervisor Kate Murray told News 12 Long Island Thursday, ?Bottom line is we need to do this right, we can't just do it quickly.?

Murray says the town is moving as quickly as possible and is awaiting figures from the developer on specific building details.