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Vista developers seeking tax-exempt bonding

Nicolla pointed to many other Tech Valley locations, including the Luther Forest Technology Campus in Malta, as reason to move Vista ahead as soon as possible. 30 high-tech companies are expected to come to the area as the result of a GlobalFoundries semiconductor plant being built there, he said, and developers here want a piece of that action.

Town Supervisor Sam Messina said the proposal would now be forwarded to the town's 2020 planning committee, and if all should go well he would expect the Town Board to take it up at the end of February. The plan would also need state comptroller approval.

Messina said this deal is exactly what the agency was created to do.

"I see nothing on the horizon in terms of economics that can benefit our town more than this," said Messina, who sat on the IDA board before taking the supervisor's office. "I haven't seen the IDA with an opportunity to do exactly what the IDA has wanted to do for six year.

Mark Hennessey, who is also on the Bethlehem Town Board, was the only IDA board member to oppose the plan. He cited concerns that the developer did not have tenant commitments in hand and that the IDA or town would be on the hook for the road costs should Vista founder.""

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