Nathan Mayberg reports in the Register Star the Village of Valatie Local Development Corporation has been censured by the state Authorities Budget Office. The office announced the censure following three years of alleged noncompliance by the group in reporting its activities to the state. The corporation recently purchased the US Hotel on Main Street in June for a quarter of a million dollars. The corporation has failed to disclose its audits for the past three years, including details of its financial transactions, property records and compensation, according to the state. The corporation is run by a board of directors and a part-time consultant. According to a board member, a three-year audit was completed this summer, but the reports were never filed with the state. Read the full story in the Register Star.