In electoral politics, they sometimes call it "walkaround money," where a politician spreads cash on Election Day (or before) to encourage people to go out and vote.
In the world of land development, which is often a close cousin to electoral politics, companies often make available "grants" in the community to help gain support for their plans. In Suffolk recently, for example, Caithness and LIPA promised millions to help the community surrounding a proposed new power plant in the Yaphank area.
On Monday came news that Charles Wang and Scott Rechler, partners in the huge plan to redevelop the area around the Nassau Coliseum, were donating $1 million to endow a new grant-making charity they call the Lighthouse Foundation, which they say will help fund community-building projects in the neighborhoods around the Nassau Coliseum area they hope to redevelop.
The foundation will support education and job programs with the goal of improving the region's quality of life. It will help underwrite community events, arrange scholarships, and support job creation and home-ownership efforts.
At the same time, Wang and Rechler are trying to go into high gear towards gaining the needed governmental approvals, primarily from the town of Hempstead--whose constituents are the same ones who stand to benefit from the Lighthouse Foundation.
--Noel Rubinton