Bethlehem Supervisor Sam Messina was at the meeting, and said tonight's decision was an important step for Vista.
"I have seen nothing more exciting for Bethlehem, including for the school district, than the Vista Technology Campus, in the last 25 years," he said.
BC's agreement to hand over PILOT receipts would only extend to this bond issuance. Future PILOT agreements and tax receipts would flow to the county, town and school district normally.
The next step for Vista developers will be to meet with Albany County Executive Michael Breslin to lay the groundwork for obtaining a similar agreement from the county. The $1 million the county promised in 2003 for Vista development will probably come up at that meeting. Earlier this year the county was noncommittal on the realization of that payout, saying the money was promised to promote high-tech jobs and none have been indentified yet.
Nicolla said Vista Boulevard can be completed in about seven months once the funding structure is in place, and there are plans to build the first of Vista's buildings even as the road is being laid. For now, developers are waiting on decisions from the town and county on the PILOT plan.
"Once we get them, then we'll be in great shape," Nicolla said.