"It's going to be a very important thing for Long Island, and it's going to be a very glamorous thing for Long Island"

An oceanfront restaurant and banquet hall planned by real estate magnate Donald Trump has been granted an unusually generous state lease, a newspaper reported Sunday.

'Trump on the Ocean' at Long Island's Jones Beach State Park will pay less, in percentage terms, than any other major state parks concession, Newsday reported. The Trump development's 40-year lease also is longer than any other state parks contract except that of the Maid of the Mist boat ride at Niagara Falls, according to the newspaper. Read more