Nassau County Executive Edward P. Mangano today announced the Nassau County Local Economic Assistance Corporation’s (NCLEAC) approval of bond financing that will allow Kellenberg Memorial High School in Uniondale to acquire an interest in an 8.2-acre athletic field near its campus.

“My economic development team is happy to assist Kellenberg Memorial High School in better serving its student athletes without any cost to local taxpayers,” said County Executive Mangano.

NCLEAC authorized the Province of Meribah Society of Mary Inc., the Marianist not-for-profit corporation that owns Kellenberg, to sell up to $12.5 million in bonds. The fields are on the corner of Glenn Curtiss Boulevard and Hempstead Turnpike.

The private high school, also known for its strong sports programs, has a license to use the property, formerly part of the Mitchel Field Complex, for the past three years. The school needs the fields for its 3,000 students who participate in 81 athletic teams and clubs.

“This financing will help a leading educational institution maintain its highly regarded sports program and support student athletes,” said NCLEAC chairman Jeffrey Seltzer.

In addition to Kellenberg, Meribah runs Chaminade High School and St. Martin de Porres Marianist School, which serves students from pre-K through the 8th grade.

Nassau County is not responsible for payment of interest or principal on the bonds.

NCLEAC, a local development corporation, was created by the Nassau County Legislature in 2010 to provide assistance for the not-for-profit sector previously supplied by the Nassau County Industrial Development Agency. New York State regulations that allowed IDAs to fund such projects expired in 2008. There is no out-of-pocket expense for NCLEAC.


About nassaucountynewsnetwork

The County Executive of Nassau County,NY
This entry was posted in Uncategorized and tagged , , , , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s