Bethlehem IDA Votes to Schedule Tax Policy Hearing

Other Committee · Meeting of September 21, 2026

BETHLEHEM — The Bethlehem Industrial Development Agency board voted to schedule a public hearing on changes to its tax exemption policy and overhauled its financial controls. Chair Victoria Storrs, who has filled in since treasurer Dick Kotlow resigned in the spring, reported $1.78 million in total assets and just over $138,000 in fee income, including a new $125,000 annual payment under a pilot agreement with Bethlehem Energy. The board voted 5-0 to add branding and marketing services to its market-study contract with consultant MIG.

Members unanimously added Storrs and Executive Director Kate Hedgeman as signatories on four bank accounts, a fix Storrs said "should have been done five years ago." The board also hired a new outside accountant and added NBT Bank as an authorized institution.

In the full story:

• The complete report — 1,089 words

Source: the Other Committee meeting of September 21, 2026, reported from the official video recording and transcript.

The Full Article

BETHLEHEM — September 9, 2026 — The Bethlehem Industrial Development Agency board voted Wednesday to schedule a public hearing on proposed changes to its tax exemption policy and approved a series of resolutions tightening financial controls after the agency's treasurer resigned and its longtime contracted chief financial officer retired.

Board Chair Victoria Storrs, who has been handling the treasurer's duties since Dick Kotlow resigned from that seat in the spring, told the board the agency held $1.78 million in total assets as of July, including $1.7 million in cash and certificates of deposit. Later in the meeting the board welcomed new board member Georgette Stephens, raising the number present to five, and voted 5-0 to amend its professional services contract with consultant MIG to add branding, marketing and communications work tied to an ongoing economic development market study.

The Full Story

Four of the agency's seven board seats were represented at the opening of the meeting, meeting the quorum requirement, and the board unanimously approved the minutes of its July 22 meeting. Storrs then delivered the financial report herself, a task she has handled since Kotlow's resignation left the treasurer's seat vacant. She also told the board that longtime contracted chief financial officer Al Michael, a certified public accountant, retired effective August 27; Michael has agreed to stay on as a consultant through the end of September to help with the transition.

Storrs said the agency's fee income for the year totaled just over $138,000, driven largely by a new annual $125,000 payment under a payment-in-lieu-of-taxes agreement with Bethlehem Energy, plus about $20,000 in ongoing fees from other projects. Expenses outpaced that income, leaving net ordinary income down $28,900 for the year; after interest earned on the agency's CDs, the net shortfall narrowed to about $11,000, consistent with a roughly $100,000 planned draw on fund balance built into the budget.

"This is a very good financial position for us to be in. We've certainly had some lean years." [00:04:20] — Victoria Storrs, Chair

Executive Director Kate Hedgeman told the board the agency is overhauling its financial operations following Michael's retirement and the treasurer vacancy. The board voted unanimously to approve a new accounting services agreement with a contractor identified only as Jenny, who has handled the agency's outside accounting for three years; the monthly fee is rising from $1,600 to $1,700 under the new contract. Members also voted unanimously to add Storrs and Hedgeman as signatories on the agency's accounts at KeyBank, Citizens Bank, Trustco and M&T Bank, a change Storrs said "should have been done five years ago and was not." The board separately approved, as amended to remove a retroactive-ratification clause, a resolution letting Hedgeman open a secure post office box, and voted to add NBT Bank as an additional authorized banking institution.

"I don't stress about the audit anymore because things don't come up." [01:01:33] — Kate Hedgeman, Executive Director

The board's most consequential policy action authorized Hedgeman to schedule a public hearing on amendments to the agency's Uniform Tax Exemption Policy, which governs how the IDA grants property tax abatements to companies it supports. Hedgeman said the amended policy clarifies that abatements apply only to the increase in assessed value created by a project, not to a property's existing base value, and that special district taxes are never abated by the agency. The revised policy would also tie the agency's review criteria more closely to the town's comprehensive plan and broaden consideration of housing projects. Hedgeman said she must notify neighboring school and fire districts, including the Guilderland Central School District, of the proposed changes before the hearing, which is not expected to be scheduled until late September or early October.

Senior Economic Developer Breanne Connor reported that a new customer relationship management tool funded by the IDA now includes almost 600 businesses, giving the town its first searchable business directory.

"We finally, at this point, have an official business list and directory for the town of Bethlehem, which I know has been a goal of the IDA for at least a decade." [00:23:21] — Breanne Connor, Senior Economic Developer

Connor said the tool will also track outcomes for the agency's microenterprise and BEST small-business grant programs; the current microenterprise round remains open through September 30, and one BEST grant application, from the business Perfect Blend, is pending state review. Connor also told the board the town board planned to reintroduce an updated residential zoning proposal for the Glenmont area that same evening, replacing an earlier low-density residential plan with a "neighborhood residential" designation meant to mirror the area's current zoning density while allowing more housing variety. A board member identified only as Robert, who also represents Bethlehem on the Capital Region Economic Development Council, said the regional council has closed out its latest grant round and that the Restore New York program remains a possible, though unconfirmed, funding source for a town site.

Why It Matters

The vote to schedule a hearing on the Uniform Tax Exemption Policy matters because the policy sets the terms under which companies receive property tax breaks from the IDA, breaks that affect how much tax revenue flows to Bethlehem, its school districts and fire districts. The financial-control changes, adding signatories and hiring new accounting help after the treasurer's seat sat vacant and the agency's longtime CFO retired, address oversight of an agency holding $1.78 million in public assets; Storrs said some of the changes "should have been done five years ago." The hearing itself has not been scheduled; notice requirements mean it likely will not appear until late September or early October.

Key Motions & Votes

- Vote: Approve July 22 meeting minutes Tally: Approved unanimously

- Vote: Authorize amendment to MIG contract to add branding, marketing and communications services for the economic development market study Tally: For: 5, Against: 0, Abstain: 0, Total: 5

- Vote: Authorize Victoria Storrs and Kate Hedgeman as signatories on IDA accounts at KeyBank, Citizens Bank, Trustco and M&T Bank Tally: Approved unanimously

- Vote: Approve new accounting services agreement with outside contractor Tally: Approved unanimously

- Vote: Approve resolution authorizing a secure post office box, as amended to remove a retroactive-ratification clause Tally: Approved unanimously

- Vote: Approve NBT Bank as an authorized banking institution Tally: Approved unanimously

- Vote: Authorize scheduling a public hearing on amendments to the Uniform Tax Exemption Policy and notice to taxing jurisdictions Tally: Approved unanimously

Source

Bethlehem's community access TV: Bethlehem Industrial Development Agency meeting, September 9, 2026