Albany County IDA Approves Assignment and Assumption for $42M Vista Boulevard Industrial Project

At its March 4, 2025 meeting, the Albany County Industrial Development Agency (ACIDA) approved a series of governance and financial actions, including authorization of an Assignment and Assumption Agreement related to the industrial project at 125 Vista Boulevard in Bethlehem and New Scotland. The resolution facilitates the transfer of leasehold and PILOT obligations from Vista Real Estate Development LLC to 125 Vista Owner LLC, an entity managed by David Ebrahimzadeh, while maintaining existing agency agreements tied to the approximately $42 million manufacturing and warehouse facility currently occupied by Plug Power. The action ensures continuity of the project’s economic development benefits, preserves existing tax agreements, and supports the long-term operation of a key clean-energy manufacturing site within Albany County.

Full article: https://ida-crc.advancealbanycounty.com/wp-content/uploads/2025/03/00.-ACIDA_Board-Pack_March-4.2025-1.pdf