Saratoga Business Journal - December 2020

SBJ P.O. Box 766 Saratoga Springs, NY 12866

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OrthoNY Moves Some Operations Into Victorian Streetwalk, First Night Canceled New Building On Route 9 In Clifton Park By COVID; ‘Re-Imagined’ Festivities In Place

BY CHRISTINE GRAF OrthoNY has relocated its Clifton Park office to a newly constructed $6.9 million building at 1768 Route 9.

The state-of-the-art 40,000-square-foot square foot facility had its ribbon cutting at the end of October. The practice previously operated a Clifton Park office out of a 5,000-square-foot leased space in the Ellis building on Sitterly Road.

The new Clifton Park location offers clinical orthopedic care, walk-in urgent care, and physical therapy. It also houses a spine center that provides both comprehensive care and pain management procedures.

Officials said patients are able to receive epidural steroid injections and other treatments in the spine center’s on-site procedure suite.

This eliminates the need for them to travel to ambulatory surgery centers or hospitals to receive these treatments. The Route 9 location also provides on-site imaging services including MRIs. It is the only one of OrthoNY’s locations to offer such a comprehensive range of services.

“We are able to offer all of our services under one roof, and we have a surgery center that is one mile away,” said Chief Operating Officer Michele Brinkman.

The surgery center is located at 16 Maxwell Drive in Clifton Park. That $5.3 million center opened in 2018.

According to Brinkman, doctors from OrthoNY’s three “hubs”—Albany, Saratoga, and Schenectady—are now able to see patients in Clifton Park.

“When we were in the Ellis building, there was a small group of physicians seeing patients out of that office. With this building being much larger, it allows physicians from all of those regions to come and see patients,” he said.

Michele Brinkman is COO of OrthoNY, which relocated to a new Clifton Park office. ©2020 SaratogaPhotographer.com

Because the Clifton Park building was still under construction when the COVID-19 pandemic began, OrthoNY was able to add permanent COVID-related modifications to the interior of the building.

“We added glass barriers at our check in/check out counters. We added separators between our waiting room chairs and at our break room tables. They are built-in permanent fixtures,” said Brinkman. “This added about $30,000 in cost.”

OrthoNY saw a decline in visits at the beginning of the pandemic when elective surgeries were halted. The practice has now Continued On Page 5

This is the logo of Victorian Streetscapes, a month-long celebration featuring an enhanced holiday look on Broadway and the downtown Saratoga Springs area.

The annual Victorian Streetwalk, that would have been held Dec. 3 in downtown Saratoga Springs, will not be held this year—another victim to the COVID-19 pandemic.

Saratoga First Night, the New Year’s Eve entertainment event, is also canceled.

Both events drew thousands of people to Saratoga Springs every year, Normally for the Victorian Streetwalk, the main section of Broadway would be blocked off and revelers would crowd the main thoroughfare and surrounding streets.

Courtesy Saratoga Springs Downtown Business Association

First Night had entertainment events in many venues across the city.

But in an effort to preserve the holiday traditions, the Saratoga Springs Downtown Business Association has re-imagined the downtown holiday celebration for 2020.

The Saratoga Springs DBA, which has presented the traditional Victorian Streetwalk for the past 33 years, in collaboration with Discover Saratoga, is bringing an enhanced holiday look to Broadway and the downtown Continued On Page 14

As COVID And Online Shopping Hurt Stores, Louise Kerr Takes The Helm At Saratoga Malls Shift Strategies To Attract Business Arts; Hopes To Form New Partnerships

BY CHRISTINE GRAF As more retail stores are forced to close due to the rise of online shopping, malls are being forced to reinvent themselves in order to survive.

They are adding attractions and businesses that traditionally wouldn’t be located in malls.

“What you have seen over the course of the last several years is the re-purposing of space within the mall to alternative uses that actually make our mall more diverse,” said Wilton Mall property manager Mike Shaffer. “This started for us back in 2012 with the opening of Healthy Living Market and Café at the mall along with Planet Fitness gym.

“And then we transitioned to putting a Home Goods in a mall site which is not typical for them.

That took up six previous small spaces. We did the same thing with Ulta Beauty a few years ago.

We boxed up three small spaces into one larger space. And now, the welcome addition of Saratoga Hospital is a re-purposing of Sears which was a large anchor store,” he said.

“Quite frankly, those kinds of retailers are hard to find to fill big spaces. It’s about re-purposing space to continue to keep the mall relevant.”

Saratoga Hospital moved into a 56,000-squarefoot space in September.

The majority of the square footage is occupied by more than 100 information technology and health information services staff members.

The employees were relocated to the mall from the main hospital campus off Church Street in Saratoga Springs.

The hospital’s mall location also includes the Center for Wound Healing and Hyperbaric Medicine, home to the hospital’s first hyperbaric

Saratoga Hospital has moved some of its services to the Wilton Mall. ©2020 SaratogaPhotographer.com

oxygen chambers. Hyperbaric oxygen therapy utilizes pure oxygen in a pressurized environment to speed the wound-healing process.

According to Angelo Calbone, Saratoga Hospital president and CEO, the move allows the hospital to utilize more of its campus space for acute care.

“We have more than 20 locations throughout the Saratoga region, but only one place—our hospital Continued On Page 18

Saratoga Arts has named Louise Kerr its new executive director, replacing Joel Reed who stepped down in March.

“We are thrilled to have Louise as the new leader for Saratoga Arts,” Susanne Simpson, president of the board, said in a statement. “She brings an energy and enthusiasm as well as a wealth of knowledge and experience that will truly honor our vision for the future.”

Kerr comes from The Olana Partnership in Hudson, where she served as the director of engagement and visitor operations. She was once the operations manager of the Betty Cuningham Gallery in Manhattan.

She has more than 20 years of business experience in both New York and California.

“It is with great enthusiasm, a fresh perspective, and the belief in a dedicated team of staff and volunteers at Saratoga Arts, that I look forward to forging new relationships, partnerships and connections that will continue to build upon Saratoga Arts successful history with a focus on the mission of making the arts accessible to all,” Kerr said.

Kerr has an undergraduate degree in architecture and design from the Glasgow College of Building and Printing in Scotland. She has a master’s degree in fine arts from the New York Studio School of Drawing, Painting and Sculpture.

Kerr is the third executive director of the nonprofit, which was founded and initially directed by Dee Sarno.

Louise Kerr is the new executive director of Saratoga Arts, replacing Joel Reed.

Courtesy Saratoga Arts

“This is a wonderful opportunity for me to return to what I love best—connecting and nurturing artists across all genres, at all points of their careers and working collaboratively on a local and regional level to promote and sustain the meaningful impact a public arts center can have serving the community,” said Kerr.

Continued On Page 17

2 • SARATOGA BUSINESS JOURNAL • DECEMBER 2020

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Personnel Briefs

The Towne Law Firm PC announced the addition of recently retired state Appellate Division Justice Eugene Devine and attorney Jessica A. Rounds to its team.

Eugene, an Albany native, has been in private practice for more than 30 years, with a focus in the fields of pension/health insurance, labor, commercial, banking, real estate, and criminal law.

He was elected justice of the New York Supreme Court in 2006. In 2014, he was appointed by Gov. Andrew Cuomo to the Appellate Division of the New York State Supreme Court, Third Department.

Before taking the bench, he was the Albany County public defender overseeing a staff of 35 attorneys and was also the chief attorney for the Albany County Department of Social Services.

Rounds is an associate attorney in the firm’s Albany office, focusing in the areas of civil litigation, commercial litigation, professional malpractice, personal injury, and general negligence.

Rounds has extensive experience in handling all phases of litigation and trial preparation.

She earned her J.D. from Western New England University Law School and is admitted to practice in both New York state and Massachusetts.

* * * Dr. Lindsay Ferraro has joined the neurology team at Saratoga Hospital.

Ferraro provides outpatient care and is available for inpatient consultations.

She also works closely with the hospital’s emergency medicine team, 24/7 tele-

Nafeesa Koslik Brings Cuisine From Her Native Country To ‘Nani’s Indian Kitchen’ •

neurology service providers, and stroke care partners at Saratoga Hospital’s affiliate Albany Med. Ferraro was raised in Clifton Park. She comes to Saratoga Hospital from the Neuroscience Center at Ellis Medicine in Schenectady.

After earning a medical degree from New York University School of Medicine, Ferraro completed a neurology residency and epilepsy fellowship at the Hospital of the University of Pennsylvania, the flagship hospital of Penn Medicine. She is board certified in neurology with subspecialty certification in epilepsy.

Ferraro serves on the professional advisory board oftheEpilepsyFoundationofNortheasternNewYork.

* * * Dr. Yun Chon has joined Saratoga Hospital’s Saratoga Community Health Center as a member of the dental team.

Chon has 12 years of experience, most recently at New Dimensions in Health Care in Amsterdam. Previously, he provided dental care at Whitney M. Young Jr. Health Center in Albany.

Chon earned his Doctor of Dental Medicine degree from Tufts University School of Dental Medicine in Boston and completed a residency in dental general practice at Wyckoff Heights Medical Center in Brooklyn. He is a member of the Academy of General Dentistry and New York State Academy of General Dentistry.

The center is located at 24 Hamilton St. in downtown Saratoga Springs.

More To Read . . . More Leads For You. (518) 581-0600

SARATOGA BUSINESS JOURNAL

Nafeesa Koslik serves up food from her native country at Nani’s Indian Kitchen, 256 Milton Ave., Ballston Spa. The restaurant offers take-out food during the COVID-19 pandemic.

BY JILL NAGY Nafeesa Koslik grew up in India, the oldest of five children. So, “by means of necessity” she started cooking when she was eight years old, she said.

While living in Milton with her husband and three children, a restaurant building became available at about the time she was laid off from her job in hotel management.

As a result, Nani’s Indian Kitchen opened at 256 Milton Ave., Ballston Spa. The business is “going like wildfire, very busy,” she said.

After a soft opening, the restaurant officially opened the day after Thanksgiving. That Friday and the following Saturday, Koslik served meals in the restaurant. However, with COVID-19 restrictions, the establishment can only seat eight to 10 people at a time, instead of the normal 33. Consequently, Koslik switched to a take-out only format for the time being.

The building, which she is renting, needed some renovations, including new

©2020 SaratogaPhotographer.com

grease traps in the kitchen, a new f loor and removal of the bar in the dining room, and some general painting and sprucing up.

Her husband and children pitched in to get the work done. The family also helps out, as needed, with the restaurant business. In addition, there are two employees.

She was born in Hyderabad, in southern India, and lived in Mumbai, Kolkotta, and Chennai. She described the menu as “multi-regional,” ref lecting the fact that she and her family moved often in India due to her father’s changing work assignments. She became familiar with many of India’s varied cuisines.

Koslik came to the U.S. when she was 19 and lived in Schenectady until moving to Milton five and a half years ago.

Nani’s Indian Kitchen is open from 11:30 a.m. to 2 p.m. and from 4- 8 p.m. Tuesday through Friday; 11 a.m. to 2 p.m. and 4-8 p.m. on Saturday; and 11 a.m. to 2 p.m. on Sunday. It its closed on Monday. People can order online at www.nanisindian.com or at 518 490-2019.

15 Unique Locally Owned Boutiques and Restaurants in the heart of downtown.

The Saratoga Marketplace is the home to 15 locally owned and operated shops and restaurants. Local artists, merchants and chefs supporting the local economy.

SARATOGA BUSINESS JOURNAL • DECEMBER 2020 • 3

Development Company Will Add 64 Rental Equitas Realty Moves From Downtown Units To ‘The Lofts At Saratoga Boulevard’ Offices Into New Space At Wilton Mall

These units are part of The Lofts at Saratoga Boulevard. Hayes Development plans to build 64 more units similar in nature to the housing development.

BY CHRISTINE GRAF Hayes Development Co. of Saratoga Springs is building 64 additional townhouse apartments at its The Lofts at Saratoga Boulevard property in Malta.

The project includes eight townhouse buildings, a tennis court and a dog park. It was designed by Cotler Architecture, and Bonacquisti Brothers Construction of Albany is the general contractor.

Construction began in July. The first townhouses will be ready for occupancy in early spring. By summer 2021, the remaining townhouses will be available. “We anticipate reaching full absorption before the completion date,” said Hayes.

The townhouse apartments are being built on a portion of a six-acre parcel of land that was purchased by Hayes Development for $1.35 million in January. The previous owners had planned a mixed-use development called Blacksmith Square on the property. After they defaulted on tax and mortgage payments, Sunmark Credit Union foreclosed on the land.

Hayes Development got it divided into two parcels.

“On the one that is four acres, we are currently constructing the next phase of The Lofts at Saratoga Boulevard. The parcel is contiguous with our current community,” said Robert A. Hayes company principal. “We have two remaining acres on Route 9 that would lend themselves to

Courtesy Hayes Development Co.

mixed use, retail or office. We plan to develop those two acres in the near future. The two acres that are remaining are up along Route 9. There is more than 300 feet of Route 9 road frontage there.”

The new units will be identical to those in the first phase of development, which was built three years ago. There were 214 two-story, townhousestyle apartments in the first phase and they are all occupied. Hayes said there is a “healthy waiting list” for vacancies.

He said 20 percent of the units have already been leased.

Phase two rents will be consistent with current rates and are expected to range between $1,500 and $1,800, he said.

One-bedroom apartments measure 970 square feet and have 1.5 bathrooms. Two-bedroom apartments are 1,340 square feet and have two bathrooms. All units feature offices and attached garages.

“Our units are unique in the fact that they provide office space as well as an extra half-bath, making them ideal for anyone who desires to work from home,” said Hayes.

Apartments feature hardwood floors, granite countertops, vaulted ceilings, stainless steel appliances, central air conditioning, and full size washer and dryers. On-site amenities include a clubhouse, indoor pool, fireside luxury spa, billiards, coffee house and lounge, and two fitness centers.

BY CHRISTINE GRAF Equitas Realty broker/owner Janet Besheer recently relocated her Saratoga Springs office from 38 High Rock Ave. to space in the Wilton Mall.

Her decision to move out of the High Rock Avenue space was made after the COVID-19 pandemic impacted the way she and her staff did business. Both her businesses, Equitas Realty and Equitas Realty Management, are located there.

Because her agents are spending significantly less time in the office, Besheer decided to downsize from a 2,800-square-foot office to a 1,000-squarefoot space in the Wilton Mall. The office was previously occupied by Liberty Travel and is located near the Home Goods and Healthy Living Market entrances.

“We’ve realized in recent years that with technology and the ability to do everything on our phones and being totally mobile, there was less need for an office. The way people shop for real estate has truly changed since I started in 2000,” she said. “And when COVID hit this March, we were not allowed to go to our office.”

During the early months of the pandemic, real estate agents were also not allowed to show houses.

Instead, they relied solely on photographs and videos to market properties to prospective buyers.

All meetings were held virtually and agents began using electronic signature software.

“I think what COVID did is that it propelled everybody into using technology which would have probably taken a lot longer to figure out,” she said.

Besheer noted that “in the midst of everything changing, the malls are changing too. The malls are no longer just for big box stores. They are becoming a part of the fabric of the community. In this mall, we see all sorts of businesses that were never in malls before.”

Besheer said she and her staff are pleased with the new office.

“A lot of people are going past our windows on a regular basis. And they are all stopping to look which is a great thing. It’s giving us great visibility, and we’re happy we are here.”

According to Besheer, the local real estate

Janet Besheer recently moved her businesses from Saratoga Springs to the Wilton Mall. ©2020 SaratogaPhotographer.com

market is booming in part because of the impact of COVID-19. She said it is especially noticeable in the high-end home market.

Prior to COVID, homes that were more than $800,000 “would usually sit on the market for a few months or longer. During COVID, when those listings came on they were sold in one day with multiple offers,” she said. “I think it’s this exodus of people who are getting out of the big cities and wanting to have room to spread out. And they weren’t just coming from New York City. They were coming from Minnesota, and California, and Massachusetts.”

Besheer, a former opera singer with an MBA in finance, entered the local real estate market 20 years ago after moving to the area. She is a past president of the Capital Region Women’s Council of Realtors and operated a Keller Williams franchise for nine years before founding Equitas Realty in 2014.

For more information, visit equitasny.com.

4 • SARATOGA BUSINESS JOURNAL • DECEMBER 2020

NEXT ISSUE

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Second Location Of ‘42⁰’ Shop Features A Large Array Of Handmade Glass Products

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Tax / Business Planning Publication Date: January 7, 2021

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Robin Barkenhagen opened 42°, a glass gallery and smoke shop located in Ellsworth Plaza on Route 9 in Malta. He also owns a similar shop in Glens Falls.

BY CHRISTINE GRAF Glens Falls business owner Robin Barkenhagen recently opened a second location of his 42° ventures. The new glass gallery and smoke shop is located in Ellsworth Plaza on Route 9 in Malta.

Last year, he relocated his Glens Falls store from Park Street to the Colvin Building at 206 Glen St. The building was purchased for $945,000 in January 2019 by Brian Bronzino, part owner of 42°. Barkenhagen and Bronzino entered into their partnership in 2018.

The first 42° opened in 2010, and the move to the larger store on Glen Street allowed Barkenhagen to expand his product line.

Both stores feature glass products that are handmade by more than 100 independent glass artists throughout the United States, he said.

Convenience store items are also sold at the Glens Falls location.

“We sell things like cigarettes and vape products,” he said. “Our glass gallery features high-end glass.

We have pipes ranging from $15 to $80, and our most expensive piece is $40,000. It’s a glass chess board that’s in our window in Glens Falls.

“Some people buy our glass and use it as decorations. There are collectors around the country that will seek out some of these blowers that we have that are nationally and internationally known,” Barkenhagen said.

42° also sells a full line of CBD products. They carry several brands including their own proprietary product line of pain creams, tinctures, and candies.

©2020 SaratogaPhotographer.com

It is produced with CBD that was harvested in 2019 during Barkenhagen’s brief foray into hemp farming, he said.

Although the market is flooded with CBD products, Barkenhagen said not all products are equal. The 42° brand of products are made with strains that have a very high CBD count, are competitively priced, and “offer more for less.”

“But we pride ourselves on having employees with the best knowledge of CBD. It’s so overwhelming, and we try to break it down into general terms” for customers, he said.

The stores also sponsor special events. In July, they held a show featuring the work of Karma, a well-known glass artist from North Carolina. The event attracted collectors from all over the country, according to Barkenhagen.

Barkenhagen has 10 employees between both stores. Although walk-in sales have declined due to COVID-19, online sales have grown, he said.

The increase is due in part to the store’s expanded product line.

He said his website used to generate maybe a few sales a month. “Now we do $20,000 a month in online sales.”

Barkenhagen is involved in the Glens Falls community and recently helped organize a drive through food distribution event that provided boxes of food to more than 300 families. He is president of the Glens Falls Collaborative and a member of the Glens Falls Urban Renewal Agency.

For information, visit 42degreesgallery.com.

SARATOGA BUSINESS JOURNAL • DECEMBER 2020 • 5

Salon 8 Owner Brought Her Business From Red Roof Inn, Under New Management, Vermont To Her Home In Saratoga Springs Steps Up Renovations To Meet COVID Rules

Nicole Loscalzo operates Salon 8 out of her home on Loughberry Road in Saratoga Springs. The salon is open Monday through Thursday by appointment only. ©2020 SaratogaPhotographer.com

BY JENNIFER FARNSWORTH Nicole Loscalzo is making a career out of something that she loves to do and in a new space that is serving her well. As owner of Salon 8, she has brought her passion for hair color to Saratoga.

Loscalzo first opened her business in Vermont.

Before that, she was working as a flight attendant.

But everything changed after the attacks on Sept.

11, 2001.

“After the 9/11 attacks, I was furloughed from my job and I thought what now? I decided to go to cosmetology school on a whim. I wasn’t even that serious about it, but I found that I absolutely loved it. I have been doing hair ever since,” she said.

Later, Loscalzo decided to make a change and thought Saratoga would work as a new location.

She likes that it is close enough to Vermont for her loyal customers to travel to her and at the same time, it gives her a bigger pool of clients.

“Being right off of (Northway) Exit 15, I’ve been able to keep my Vermont customers who are willing to make the drive. I am starting to bring in more local people, and of course I am so thankful for that,” said Loscalzo.

The salon is on the first floor of Loscalzo’s home

on Loughberry Road in Saratoga Springs, where she has worked hard to create a comfortable space with an upscale salon feel.

“It has a separate entrance and is perfect for being able to maintain all of the safety standards,” said Loscalzo.

She schedules by appointment only and has two to three clients per day. It allows for optimum COVID-19 safety precautions. She also requires masks, temperature checks, and frequent sanitizing.

Trust, Loscalzo said, is something that she feels has made her successful in the industry.

“I am always straightforward with my clients and they trust my judgement. A lot of time someone will say just color my hair and don’t take anything off, but I always clean it up because it is part of the process,” she said.

The salon is open Monday through Thursday by appointment only. Loscalzo specializes in single-process color, dimensional color and correctional color, for women only.

Learn more at www.facebook.com/ Salon-8-251926901494696 or by calling (802) 287-0488.

OrthoNY

Brinkman.

With the addition of the Route 9 property, OrthoNY now owns four of its locations. The others are in Albany, Saratoga, and Malta.

That number will increase to five after the practice completes renovations to a building in Schenectady, officials said. By January 2022, OrthoNY hopes to relocate its Schenectady office to that space.

“We still do lease satellite locations,” said Brinkman. “They are the smaller 5,000 square feet or less where we have presences in communities but don’t need a 40,000-squarefoot building.”

OrthoNY has approximately 400 employees throughout the Capital Region. Fifty new employees were hired for the new Clifton Park office and that number is expected to grow, Brinkman said.

Continued From Page 1 returned to its normal volume. They continue to operate with all COVID safety and social distancing procedures in place.

“We never lifted most of our restrictions from the spring time,” said Brinkman. “For example, we only allow the patient in the building unless they are a minor or need physical assistance.”

Due to a spike in COVID, OrthoNY will be implementing changes to operations.

“As things started opening up, we had some in-person meeting, but we are now fully virtual again. We also have PA students who are finishing up rotations, but we will be on pause with those programs the first or second week in December while there is this spike going on,” said

Rooms at the Red Roof Inn in Clifton Park underwent several upgrades to enhance the guest experience. Changes were also made to make things safer during the pandemic.

BY ERIN NUDI Alan Schnurman took over ownership of the Red Roof Inn in Clifton Park in 2018.

In June of this year, he made a change in management and renovations, which had been ongoing slowly, moved forward in earnest.

“Things are run differently now,” said Elaine Swain, the new general manager.

Kemanni Gang is also part of the new management team as operations manager.

Swain said the team is re-focusing the hotel’s upgrades and its hospitality mission while adhering to the new COVID regulations.

All of the rooms underwent major renovations in 2019. They now have laminate flooring instead of carpet, which adds safety and cleanliness, two aspects of staying at a hotel that many think about today, she said.

Courtesy Red Roof Inn

Other upgrades in the guest rooms include a workspace, microwave and refrigerator. A guest laundry room was added and there are plans for the addition of a truck parking lot.

To adapt to COVID-19 regulations, the Red Roof Inn implemented a sanitization policy that includes cleaning protocols 24 hours a day. Plexiglass has been installed in certain areas and social distancing is encouraged.

Guest rooms are sanitized and cleaned by staff wearing gloves and masks. Guests are required to wear masks when in public spaces.

Food service safety measures are in place, including individually wrapped grab-and-go food options for breakfast to ensure extra safety for guests, instead of the hot breakfast that used to be served.

There is contactless check in, check out and room service.

6 • SARATOGA BUSINESS JOURNAL • DECEMBER 2020

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The Chamber of Southern Saratoga County P.O. Box 766 • Saratoga Springs, New York 12866 (518) 581-0600 • Fax: (518) 430-3020 • www.saratogabusinessjournal.com Editorial: RJDeLuke@saratogabusinessjournal.com Advertising: HarryW@saratogabusinessjournal.com Publisher & Editor Harry Weinhagen Associate Editor R.J. DeLuke Editor Emeritus Rod Bacon Sales and Customer Service Harry Weinhagen Production Manager Graphic Precision Photographer Stock Studios Photography Contributing Writers Susan Campbell Jill Nagy Jennifer Farnsworth Christine Graf Andrea Palmer Lisa Balschunat Saratoga Business Journal is published monthly, the second week of each month, by Weinhagen Associates, LLC and mailed to business and professional people in Saratoga county.

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COVID-19 Causes Adirondack Thunder Team To Opt Out Of The ECHL Season The Adirondack Thunder hockey team, the ECHL affiliate of the New Jersey Devils that plays its games at Cool Insuring Arena in Glens Falls, is opting out of the 2020-21 season.

The Thunder joined the rest of the North Division in the decision to not play.

The Adirondack Hockey Coalition LLC and Adirondack Civic Center Coalition said in a statement that the Adirondack Thunder will not be able to participate in the 2020-21 ECHL season “due to the on-going COVID-19 pandemic and the state’s guidelines on permitting no fans inside the arena.

“We were hopeful that government restrictions would ease up as we approached the time we needed to declare our formal intentions for the season. Unfortunately, we are unable to have any fans in attendance for the foreseeable future and cannot sustain a season without fans,” officials said.

The North Division of the ECHL is comprised of six teams including Adirondack, Worcester, Maine, Reading, Brampton, and Newfoundland.

“We knew this season would be a challenge regardless of any state restrictions on fans in the arena,” officials said. “We had worked on numerous contingency plans to socially distance fans and to ensure a clean, safe environment, and to fully abide by all stateimposed guidelines. We were ready to play at a 50 percent capacity, knowing it would be difficult to operate at that capacity.

“We know the disappointment our fans, coaches, players, staff, and community share with this announcement. Our focus going forward will be to start the planning for the 2021-22 season.”

All season ticket holder payments will automatically be shifted to the 2021-22 season, officials said. Fans that wish to discuss their plans, can call 518-480-3355, ext. 319. Season Ticket pricing for the 2021-22 season will remain flat and went on sale Dec. 1.

Despite not being able to participate in the 2020-21 season, the team still encounters significant expenses throughout the winter.

Those who would like to donate their ticket money to our Keep Hockey Here campaign can contact Mead at jmead@echlthunder. com.

“We are thankful to our community as well as local and state officials that have supported the Cool Insuring Arena and Adirondack Thunder since 2015. We know without this incredible support, we would not be able to operate the arena and team,” the team statement said.

“As we continue to navigate the continually changing regulations across North America, we recognize the difficult nature of this decision,” said ECHL Commissioner Ryan Crelin. “While some of our teams’ host cities have allowed upcoming plans to include fans inside arenas, we unfortunately do not see the same path for these highly-affected areas in the North East.”

Under the terms of the ECHL/PHPA Collective Bargaining Agreement, all players from the Adirondack Thunder, Brampton Beast, Maine Mariners, Newfoundland Growlers, Reading Royals and Worcester Railers are free agents for the 2020-21 season immediately.”

Began in 1988-89 with five teams in four states, the ECHL has grown into a coast-tocoast league with 26 teams in 19 states and two Canadian provinces. There have been 678 players who have gone on to play in the National Hockey League after starting their careers in the ECHL, including 16 who made their NHL debuts in the 2019-20 season.

The ECHL had affiliations with 25 of the 31 NHL teams in 2019-20, marking the 23rd consecutive season that the league had affiliations with at least 20 teams in the NHL. Further information on the ECHL is available on its website at ECHL.com as well as on Twitter and Facebook.

SARATOGA BUSINESS JOURNAL • DECEMBER 2020 • 7

Stewart’s Shops Acquisition Of Red-Kap Adds Executive Woods Mixed-Use Park Will See Gasoline Distribution Services, A Few Stores Expansion; 50 New Apartment Units Planned

Red-Kap is a locally owned, family run business, has eight convenience stores, three car washes, a 75-plus dealer network and fuel distribution business.

Stewart’s Shops is announced it is expanding its fuel distribution business with the acquisition of Red-Kap, a locally owned, family run business.

Stewart’s officials said the company will acquire eight convenience stores, three car washes, a 75-plus dealer network and fuel distribution business.

Under the terms of the agreement, Stewart’s will maintain the branding of the Mobil, Citgo, and Sunoco stations and will convert a few of the Red-Kap locations into Stewart’s Shops.

“Stewart’s has always respected the business and our long personal relationship with the Kaplans and their team,” said Stewart’s Shops President Gary Dake. “Doing business with people who respect people is always a pleasure.

Both organizations come from long local family histories that have helped form the communities where we live.

“The acquisition will add eight corporately run locations and a significant addition of gasoline supply and distribution to local stations.

Stewart’s prides itself on vertical integration and support. In the age of COVID-19, with an everchanging business climate, we look forward to extending this support to the distributor/dealer network.”

Red-Kap, based in Schenectady, owns eight convenience stores from Saratoga to Loudonville, Troy, East Greenbush, and as far

Courtesy Red-Kap

west as the Syracuse suburb of Baldwinsville.

Red-Kap principal Jon Kaplan said, “From our humble beginnings in one gas station, RedKap has grown to be a multi-site convenience store and car wash operator as well as one of the largest gasoline suppliers in upstate New York.

None of this would have been possible without the work and talent of our employees, customers and business partners along with the support of our families ... Being acquired by Stewart’s is our final success. We have had a long and prosperous relationship with Stewart’s, during which we have grown to respect and trust them.”

He said employees and customers are “in good hands and able to face the challenges of the future with Stewart’s and the Dake family.

Knowing that Stewart’s is a locally owned family business only adds to our contentment with this transaction.”

It will be the second wholesale fuel business acquisition for Stewart’s this year. In January, the family- and employee-owned company invested $6.6 million in January to purchase Polsinello Fuel’s fuel supply business at the Port of Albany.

Stewart’s currently operates 338 convenience stores in New York and Vermont.

According to its website, Red-Kap has more than 60 employees and sells more than 60 million gallons of gasoline and diesel annually.

BY SUSAN ELISE CAMPBELL DCG Development Co. has planned an expansion of residential space in Executive Woods, one of three mixed-use office parks the company has near the intersection of Route 9 and Route 146 in Clifton Park.

According to Donald MacElroy, DCG vice president, the project will include completely re-purposing an existing structure. They will also build a new one. The result will be a total 50 rental units that MacElroy said will appeal to the middle market.

“New apartments have not been built in Clifton Park in many years,” said MacElroy.

“As products age and grow out of use, others step in to take over.”

MacElroy said there is “pent-up demand for apartments, particularly new construction.” He expects that middleincome jobs will continue coming into the area because “many of the businesses springing up around that intersection are health care facilities, bringing in new employment opportunities.”

Executive Woods is on the north side of Route 146 and has a two-story, 20,000-square-foot professional office building that will be converted into 34 rental units, he said. Floor plans are being developed. All walls and partitions will be removed and new utility systems installed.

“There will be a new face to the building in a style similar to projects that have come online,” said MacElroy. “Architectural guidelines are part of the Town Center plan and we are likely to include a masonry component.”

The new three-story building will have 16 rental units.

“The total project will offer a mix of one bedrooms, one bedroom with den, and twobedroom units starting in the $1,600 per

This is Executive Woods in Clifton Park where 50 new apartments will be built.

Courtesy DCG Development

month price range,” said MacElroy.

DCG has the role of general contractor and will sub-contract to local builders that have yet to be named.

The project is likely to get underway in the spring. MacElroy said the planning process is “more of a challenge in these times because board meetings are being handled remotely. The Town has done a good job managing the process.”

DCG’s three projects near Exit 9 include the mall at Clifton Park Centre, 5 Maxwell Drive and Executive Woods. The firm develops commercial properties in downtown, rural, and suburban environments throughout Saratoga County and surrounding communities.

©2020 Saratoga Photographer.com

Vince Laurenzo CEO Quick Response Restoration Reads

SARATOGA BUSINESS JOURNAL

8 • SARATOGA BUSINESS JOURNAL • DECEMBER 2020

SPECIAL SECTION

SARATOGA BUSINESS JOURNAL

Retirement Planning

•

Business Report Your Retirement Plan Under A New Employer

BY ROB SNELL Your employer-sponsored retirement plan is a valuable asset. But sometimes things happen that can affect the status of your plan. So, for example, if you work for a hospital that changes ownership, and you have been participating in a 403(b), 457(b) or 401(k) retirement plan, what should you do with it now?

Basically, you have four options: Cash out your plan. You can simply cash out your plan and take the money, but you’ll have to pay taxes on it, and possibly penalties as well. So, unless you really need the funds and you have no other alternative, you may want to avoid liquidating your account.

Roll your account into your new employer’s plan. If it’s allowed, you can roll over your old 403(b), 457(b) or 401(k) plan into your new employer’s plan. Before making this move, you’ll want to look at the new plan’s investment options (which should be numerous) and fees (which should be low). If you move the money directly to the new plan, you won’t be taxed at the time of the transfer, and your funds can continue to grow tax-deferred.

Leave your plan with your old employer.

If your account balance is above a certain level, you may be able to leave your plan with your old employer’s plan administrator. You won’t be able to contribute any more money to the plan, but if you like the investment options you’ve chosen, keeping the money in your old plan might be a viable choice.

Move your account into a traditional IRA. One possible advantage to moving your 403(b), 457(b) or 401(k) into a traditional IRA is you’ll open up a world of new investment options, because you can fund your IRA with virtually any type of vehicle, including stocks, bonds, mutual funds, certificates of deposit (CDs) and exchange-traded funds. And if you already have a traditional IRA, you can combine the new funds with the old ones, making it easier to track your holdings.

As is the case with leaving your money

• •

Robert Snell, financial adviser with Edward Jones Financial in Saratoga Springs.

Courtesy Edward Jones Financial

in your old employer’s plan or transferring it to a new plan, you’ll continue to benefit from tax-deferred growth.

Keep in mind, though, that IRAs have costs, too, possibly including transaction costs to buy or sell new investments. (One more thing to keep in mind: When you want to move a retirement plan to an IRA, you may want to make a direct rollover, so the old plan’s administrator moves the money directly into the IRA, allowing you to avoid immediate taxes.

If you were to make an indirect rollover, you’d get the money yourself, but your old employer would have to deduct 20 percent for federal taxes, and you’d have to deposit the entire balance, including the withholding, into your IRA within 60 days.)

Which of these choices is best for you?

There’s no one “right” answer for everyone.

You’ll want to consider all the options and possibly consult with your tax advisor and financial professional. But do all you can to protect your retirement plan – you’ve worked hard to build it, and you’ll need to rely on it to help you pay for your years as a retiree.

Business Report Checklist For Ending 2020

BY STEPHEN KYNE, CFP The end of another year is rapidly approaching, and just as you cross items off your checklist and prepare your home for the winter, it’s also important to complete maintenance items to prepare your finances to close out 2020.

The first piece of financial housekeeping will be to begin to gather documents you’ll be needing just after the new year to prepare your taxes. Compile receipts for medical bills, tuition payments, child care and charitable contributions, among others.

While many of us will no longer be able to itemize deductions due to recent tax law changes, there are credits for things like child care and education expenses which you may still be eligible for. For those with large medical bills, mortgage interest, or who have been particularly philanthropic this year, you may still be able to itemize, so it is important to have those receipts handy.

When it comes to planning for your retirement, this is the perfect time to evaluate your contribution levels to your retirement plans at work. If you have the ability, and you’re not yet contributing to the maximum levels allowed, consider topping these accounts off to take advantage of the possible tax deduction this year, as well as the ability to simply squirrel as much away for the future as possible.

Even if you can’t contribute to the maximum, be sure to at least contribute enough to take advantage of any employer matching contributions.

You may not be aware, but once you reach age 50, you are eligible for higher contribution levels than in prior years. So, if you’ve turned 50 this year, consider increasing your contributions. For 401(k) and 403(b) plans, you can contribute an additional $6,000 to a max of $25,500 from $19,500 for those under 50. For SIMPLE plans, you get to contribute an additional $3,000, up to a new max of $16,500.

Take advantage of this opportunity to catch-up on contributions you may not have been able to make when you were younger.

On the subject of milestone birthdays, if you turned 72 in 2020, you would normally have to start having to take withdrawals from IRAs and certain company sponsored retirement plans.

These are called Required Minimum Distributions (RMDs). Your contributions to these accounts have been allowed to grow tax-deferred all this time, and now Uncle Sam wants his share. This age limit was increased from 70 ½ by the SECURE Act in late 2019.

However, due to COVID and the resulting CARES Act, you won’t need to take an RMD for 2020. RMDs from inherited IRAs have also been suspended for this year, but you should expect both to resume in 2021.

•

Stephen Kyne, CFP, partner at Sterling Manor Financial LLC in Saratoga Springs.

Courtesy Sterling Manor Financial LLC

Even if you can’t itemize charitable contributions on your taxes, you may still be able to make those contributions on a pre-tax basis! If you direct distributions to be paid directly from your IRA to your charity of choice, you won’t be taxed on that portion of the distribution. This is a great option if you are subject to the standard deduction.

The end of the year is a perfect time to review your various forms of insurance, including your home and auto. Take note of various coverage limits and deductibles. If you can, consider a higher deductible in order to save on premium expenses.

Ensure that your homeowners coverage amounts reflect the value of your home. Your home has probably appreciated since you purchased it, but have you increased your coverage limits to keep pace?

An often-overlooked task is to review your beneficiary declarations each year. Families grow, as new members are added, and shrink with death and divorce, which means that beneficiary and transfer-on-death declarations can easily become outdated and no longer reflect your true wishes.

Since these declarations are a matter of contract, they will overrule what your Will may say. So, even if you’ve updated your will to exclude an ex-spouse, but you left them as beneficiary on your IRA, your new spouse won’t be able to inherit those assets, but the ex will, and it can’t be challenged in probate.

Review your beneficiaries, gather tax documents, maximize funding of your various retirement plans, take required distributions, and review your insurance coverage with your advisor each year, to help ensure that your financial plan is well-tuned as you prepare to turn the page on 2020.

SARATOGA BUSINESS JOURNAL • DECEMBER 2020 • 9

Calm Urged By Advisors During COVID; AHI Offers Free Aid For Roth IRAs Among Strong Investment Options Health Plan Enrollment

BY SUSAN ELISE CAMPBELL Retirement plan holders went on a historic roller coaster ride this past year, but to their credit they held on tight, said local investment professionals.

“Fortunately no one panicked in March,” said Mark Wells, CFP, co-founder of Three Buckets Wealth Management serving clients out of Fort Covington and Glens Falls.“In all aspects of life, when things are up in the air it’s easier to act irrationally.”

Uncertainty is what no one wants, said Wells.

The Three Buckets formula is to determine guaranteed income sources such as Social Security and pension, then calculate the gap between that amount and what the client wants to live on in their retired years, he said.

With a comprehensive plan and short, intermediate and long-term investment buckets in place, Wells said “clients understood how unexpected market swings can affect their overall goals and therefore did not act emotionally” when COVID-19 drove down the stock market.

“Who could know how the pandemic would play out?” said Conor Boyd, managing partner of Thoroughbred Advisors, which has a Queensbury office. “But we were prepared by being positioned in such a way that we could take advantage of opportunities.”

Boyd highlighted the need for a strong liquidity position in any portfolio, through cash equivalents and a guaranteed portion, which is traditionally fulfilled by insurance products.

“One end of the advisory spectrum is investment and the other is insurance, an area in which some advisers fall short,” said Boyd.

He promotes three factors to successful retirement planning. “The first is a focus on habit formation, which includes automated savings.

Next are the tools, including investments and insurances. The third is the strategy that informs the habits to create and the tools to implement.”

At Minich MacGregor Wealth Management in Saratoga Springs, financial planner Cory Laird, CFP said the methodology is “to determine the risk profile and make sure clients are getting the growth rate they’re expecting and the amount of sleep that they want at night” using a sector rotation strategy.

“Even if we see a couple of down years, customers can still be comfortable,” he said.

With COVID’s striking impact on investments, Laird said “by the time clients got their statements the first week in June, the markets were already improving.”

Now, with a new year and a new administration ahead, professionals are focusing on planning techniques that help retirement account holders meet goals beyond simply accumulating money.

One strategy is to consider converting traditional IRA assets to a Roth IRA. There are two reasons why, say the experts. The first is the current ordinary income tax rates and the second is a new, but less advantageous, provision in the Secure Act passed at the end of 2019.

IRA assets can accumulate so much that when combined with other retirement assets, one’s tax rate may be higher than it is today. The current levels sunset in 2025, but people today are facing 30 years in retirement or more, Laird said.

While IRA assets may still be taxed at a marginal rate lower than it was during the client’s accumulation years, professionals say most people will be in a higher bracket during retirement than they had anticipated.

Roth IRA earnings are never taxed, said Laird, so if Congress has increased income tax rates

Cory Laird is a financial planner, Minich MacGregor Wealth Management in Saratoga. ©2020 SaratogaPhotographer.com

or shifted brackets in the years withdrawals are made, Roth IRAs can become more attractive.

“Earlier this year, the concern was for legacy planning,” said Wells, when the Secure Act changed the required minimum distribution age for tax-deferred qualified plans from 70 1/2 to 72.

While that’s a plus, say the experts, that provision was countered with another that makes it difficult for beneficiaries to keep more money for themselves, according to Wells.

“In the past a non-spouse beneficiary could stretch distributions from the deceased’s plan over many decades based on life expectancy,” he said. “Now all assets must be liquidated within 10 years. That means that unless a person aged 72 takes more money out of the plan during retirement, there will be more left for beneficiaries who will incur a quicker and higher tax liability.”

One solution is a Roth IRA, which has neither a required minimum distribution nor any tax liability for beneficiaries.

He said there are also are strategies that shift retirement assets in order to be in control of taxes paid and money kept. “For some clients this may mean taking out more retirement money now and putting it into accounts managed in a way to provide tax advantages for heirs.”

Boyd said Roth 401(k) plans resolve tax issues for many retirees, but many lack knowledge about what they are and how to get an account.

“Many employees think they are not eligible, but every employee or small business owner may be eligible regardless of income,” said Boyd.

“Adding the right option is straightforward if the existing plan doesn’t currently offer one, and employees should request it.”

But be careful with Roth accounts, said Laird.

“Unlike a traditional IRA or rollover, Roth account assets can be used by Medicare during the five-year look-back period for nursing home care, although not in-home care,” he said.

Laird said he recommends to all eligible clients during the open enrollment period to carefully choose a Medicare Advantage plan that suits their needs for medications, dental coverage, and level of premiums versus co-pays.

He said the right health care program is another way of keeping more money for yourself, as some people have lost everything to expensive hospitalizations and treatments. For this same reason Laird is also a proponent of long-term care insurance.

Adirondack Health Institute is offering free health insurance enrollment assistance services to individuals, families, and small business owners in eight North Country counties—Clinton, Essex, Franklin, Fulton, Hamilton, Saratoga, Warren, and Washington—during the upcoming open enrollment period.

Although the state enrollment period was extended to the end of 2020, the annual open enrollment period began Nov. 1 for new enrollees and starts Nov. 16 for those reenrolling in a plan.

It runs through Jan. 31.

For those who wish to have their health insurance coverage take effect on Jan. 1, the deadline to apply is Dec. 15.

“Our enrollment specialists provide no-cost, unbiased assistance to help clients determine their health insurance eligibility for Qualified Health Plans, Medicaid, and Child Health Plus” said Joyce Porter, AHI’s Enrollment Assistance Services and Education (EASE) Program Manager. “Another option available is called the Essential Plan, a plan for lower-income New Yorkers who don’t qualify for Medicaid or Child Health Plus. This plan costs much less than other plans, as little as $20 per month, and in some cases no cost at all, yet offers the same essential benefits for those who qualify.”

“We are excited to help people in our communities enroll in a plan that best fits their needs. We also encourage those who would like assistance to schedule a free appointment with us at their earliest convenience and not wait until the last minute to sign up,” she said.

Individuals may call AHI’s toll-free number, 866-872-3740, or visit www.ahihealth.org/ease/ appointment-request/ to schedule a no-cost appointment with an EASE enrollment specialist.

AHI is a joint venture of Adirondack Health, Glens Falls Hospital, Hudson Headwaters Health Network, St. Lawrence Health System, and the University of Vermont Health Network – Champlain Valley Physicians Hospital.

For more information, please visit www. ahihealth.org.

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10 • SARATOGA BUSINESS JOURNAL • DECEMBER 2020

SARATOGA BUSINESS JOURNAL

SPECIAL SECTION

NonProfit

Wellspring, A Nonprofit Serving Victims Of Saratoga Warhorse To Use Resources To Help Abuse, Starts Building New Facility In Malta Veterans During The COVID-19 Pandemic

This is a rendering of a new facility Wellspring is building that will be located on Route 9, just south of Malta Avenue in the town of Malta. It will eventually close its Saratoga headquarters.

Saratoga WarHorse, a nonprofit organization, uses retired thoroughbred racehorses to work with service members and veterans with post-traumatic stress.

Courtesy Wellspring

Courtesy Saratoga Warhorse

BY JILL NAGY After nearly 40 years in the same Saratoga Springs location, Wellspring broke ground in November for a new, larger facility in Malta.

Wellspring provides free services to victims of domestic abuse and violence in Saratoga County and sexual assault victims in Saratoga and Washington counties.

“We are here 24/7 at no charge,” Wellspring’s director, Maggie Fronk said.

“We have outgrown our space in Saratoga,” she said. In fact, the agency is using off-site offices in order to meet with clients and comply with COVID social distancing requirements.

The new building will be on Route 9, just south of Malta Avenue, a site chosen partly for its visibility, Fronk said.

Bonacio Construction is building the facility.

Designed by Saratoga Springs architects Balzer & Tuck, the 8,000-square-foot building will provide confidential space for client conferences; an area for children to play while they wait for adults to finish their appointments; a food pantry and an area where clients can obtain household items,

school supplies, clothing and other necessities; space for community meetings and education programs; a workforce development room; space for prevention and community outreach programs; and a staff wellness room Fronk called “a welcoming space to take a break and breathe.”

The enlarged space will allow development of the workforce development program and community-focused training for police officers, doctors, and others in the general community, Fronk said.

In addition, the building is designed with a separate, confidential, entrance for clients.

Wellspring is in the midst of a $1.8 million dollar capital campaign. Some $1.3 million is already in hand, according to campaign cochairs Stephanie Collins and Linda Toohey.

The remainder of the $3 million cost of the new building will be bank financed.

Wellspring started 40 years ago when concerned community members attempted to help a few families in distress. They helped people flee abusive situations and arranged Continued On Page 18

Saratoga WarHorse, a nonprofit organization that uses retired thoroughbred racehorses to work with service members and veterans with post-traumatic stress, plans to use the program to aid individuals mobilized during the COVID-19 pandemic.

The Military Armed Forces program is designed to assist service members and veterans during the immediate aftermath of trauma and prevent the negative consequences of PST. It formally launches in December and is currently accepting participants.

Officials said that since April, more than 50,000 troops across all 50 states, Washington, D.C., Puerto Rico, Guam and the U.S. Virgin Islands, have been activated domestically to assist in their state’s response to the COVID-19 pandemic. Additionally, approximately 25,000 retired and former U.S. Army medical personnel have volunteered their service.

Their frontline support includes mortuary affairs, serving at community-based testing sites and creating enhanced medical capacity for hospitals and healthcare professionals.

ALBANY OFFICE Corporate Woods 7 Southwoods Boulevard Albany, New York 12211 (518) 465-7581

SARATOGA OFFICE 47 West Harrison Street Saratoga Springs, New York 12866 (518) 581-8131

KINGSTON OFFICE 1151 Flatbush Road Kingston, New York 12401 (845) 338-6405

“Tens of thousands of military troops were called upon to fight this invisible enemy,” said U.S. Army veteran and Saratoga WarHorse Foundation CEO Allison Cherkosly. “Serving in an uncertain environment—unsure whether or not the person you’re trying to help will infect you—is stressful and traumatic.

Our Military FAR program will help spare a lot of service members and their families from the suffering caused by post-traumatic stress by providing early intervention shortly after enduring trauma. With this program, we have the opportunity to make a major contribution to the field of veteran care.

Instead of trying to reverse the devastating consequences, we could actually prevent it.”

Saratoga WarHorse is accustomed to working with service members and veterans with Post-Traumatic Stress. Since its inception in 2013, the non-profit organization has helped nearly 1,300 veterans move past their trauma by partnering them with retired thoroughbred racehorses and providing a new experience vastly different than equine Continued On Page 18

CLIFTON PARK Executive Woods 855 Route 146, Suite 220 Clifton Park, New York 12065 (518) 952-4010

SARATOGA BUSINESS JOURNAL • DECEMBER 2020 • 11

Saratoga Casino Hotel Kicks Off Campaign To Raise Money For Many Area Nonprofits •

Alex Tucker, left, and Sam Gerrity of Saratoga Casino Hotel present a check to Todd Shimkus, Saratoga County Chamber of Commerce president, center, for the Save Our Locals Campaign.

Courtesy Saratoga Casino Hotel

Saratoga Casino Hotel has kicked off its 30 Days of Giving campaign, committed to donating some $100,000 to 38 local and regional non-profit organizations in Saratoga and Warren counties.

Through Dec. 22, team members from Saratoga Casino Hotel will help to fill local food pantries, purchase essentials for families in need, and deliver checks to provide funding for non-profit programs and initiatives.

“We couldn’t think of a better way to support and recognize these organizations in our community,” said Skip Carlson, vice president of external affairs at Saratoga Casino Hotel. “This year, more than ever so many organizations and families are in need. Our goal behind our 30 Days of Giving program is not only to provide direct support to each group, but to also help increase the exposure of these amazing organizations.”

Each organization will be featured on Saratoga Casino Hotel’s social media pages highlighting their cause and promoting local support and assistance. Throughout the 30 days the casino will also feature four Player Choice contests on their Facebook page where fans can vote for particular organizations to receive a $1,000 donation. All organizations selected for the Player Choice contests will receive at a minimum $500.

The first recipient of the 30 Days of Giving is the Saratoga County Foundation receiving a $5,000 donation.

“We’re incredibly thankful to be the beneficiary of this generous donation from Saratoga Casino Hotel,” said Todd Shimkus, president of the Saratoga County Chamber of Commerce. “The money will be used for our Save Our Locals campaign and will go a long

way in allowing us to continue our mission of helping local businesses that have been so heavily impacted by the pandemic”.

Over the last 16 years, Saratoga Casino Hotel has donated over $2.9 million to different charitable groups.

The following organizations will receive a donation ranging from $500-$10,000 during the “30 Days of Giving” campaign: After the Fire, AIM Services Inc., Ballston Area Community Center, Ben Osborne Memorial Fund, CAPTAIN Community Human Services, Catie Hoch Foundation, Donna Crandall Foundation - Cystic Fibrosis, Franklin Community Center. Friends of Saratoga County Animal Shelter, Gateway House of Peace, Give a Child Christmas, Habitat for Humanity, Jake’s Help from Heaven, Mechanicville Area Community Services, Moreau Community Center, Nathan Littauer Foundation, Nipper Knolls Equine Center, Operation Adopt a Soldier.

Rebuilding Together Saratoga County, Ronald McDonald House Charities of the Capital Region, Saratoga Center for the Family, Saratoga County Foundation-Save our Locals, Saratoga EOC, Saratoga Hospital Community Health Center, Saratoga Senior Center, Saratoga County Children’s Committee Empty Stocking Project, Schuylerville Area Food Pantry, Shelters of Saratoga, Queensbury School District Snack Pack Program, Saratoga Springs School District SNACPack Program, Saratoga Sponsor-AScholar, Stillwater Food Pantry, Town of Malta Emergency Food Pantry, Wait House - Warren Washington County Homeless Youth Coalition, Wellspring, The Wesley Community, Wilton Food Pantry and The Corporation at Yaddo.

Business Report Coaching For Today’s Nonprofit CEO

BY SABRINA HAUSER The nonprofit world is filled with dedicated and passionate leaders and an organization’s CEO is no exception.

They exist and work in a demanding environment with constant challenges. The average nonprofit CEO spends between 60-70 hours of accountable time in a week, existing between the Board, directors and employees.

This can be an isolated position, managing both upwards and down while driving the initiatives of the agency. Typically, the CEO lacks a right-hand person to co-manage with and often is called upon to make decisions alone, often in a vacuum. The mental load can be unnerving.

Coaching for today’s nonprofit CEO is a way for nonprofits to tap into an objective outside resource, who will guide the CEO in key administrative and strategic areas vital to the continued survival —and success—of an organization.

Finding and retaining an individual or company with expertise in the world of nonprofits is critical to the success of the coaching process. A coach will work with the CEO and her team to review and set strategies; develop action items and accountability; engage in motivating activities to support an agency’s employees, directors, board and donors; and build camaraderie between and among board members and support staff.

A coach can be a crucial resource for educating the CEO and team in best practices for attracting talent to your agency, as well as maintaining the expanding upon engagement with donors, supporters, and board members.

In the nonprofit world, budget and mission drive most decisions, yet the CEO is often in the sole position privy to the confidential information necessary to make a decision.

Although surrounded by people who want to support and build the agency, there are times the job feels very isolated and lonely.

Staffing is another significant challenge and is tied to budget and mission. Hiring and retaining the right talent from the outset determines the continued smooth operation of the nonprofit agency and will factor into the CEO’s ability to perform and produce for the board of directors.

There is also the unbalanced competition for talent with the private sector and larger nonprofits, which makes hiring and retaining

Sabrina Houser is the owner of Capital CFO in Saratoga Springs.

Courtesy Capital CFO

qualified individuals even more challenging.

A coach can assist in the human resources arena and provide a second, objective perspective.

All nonprofits are not created equal. There are three types of agencies and the challenges faced by CEOs vary, depending on the type and stage of the agency.

In the startup world, the CEO is faced with the typical challenges most startups face: talent, money, mission, and funding.

The good news here is that you can take a Business 101 class, and you are not faced with some of the issues a well-established nonprofit encounters.

In established nonprofits, the CEO works to keep things afloat. Especially in today’s COVID environment, it means doing more with less. The agency is stretched as the community need increases, and the donor and fundraising take a hit.

The “I inherited a mess nonprofit,” the CEO peers around every corner looking for either relief or another challenge. Support can come from the directors and the Board, and hopefully, they are in sync. If not, the CEO will be forced to take appropriate action on employment, expenses, spending, and services.

These are all areas where a nonprofit CEO coach can help. And, while there are times when a complaining session is warranted, Continued On Page 13

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Robert Schermerhorn, CFP® (518) 584-2555 www.SaratogaRetire.com 18 Division Street, Saratoga Springs Securities & advisory services offered through LPL Financial, a registered investment advisor, member FINRA/SIPC

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12 • SARATOGA BUSINESS JOURNAL • DECEMBER 2020

SARATOGA BUSINESS JOURNAL

SPECIAL SECTION

Cyber/Tech

Saratoga County Agreement With Verizon Communications Technology Like Zoom Is Brings Wireless Service To Four Rural Towns Helping Business People Meet During COVID Saratoga County has entered into an agreement with Verizon Wireless to bring wireless communication services to four communities in the Adirondack Park near the Great Sacandaga Lake.

The expansion of Verizon Wireless services will provide access to wireless phone and high-speed data services to Verizon customers including residents, visitors and first responders.

“I am proud to announce the agreement between Verizon Wireless and the County of Saratoga to bring Verizon cellular and Internet access to the communities of Edinburg, Day, Hadley and Providence,” said Preston Allen, Saratoga County Board of Supervisors Chairman.

In the past year, Verizon worked with the Saratoga County Office of Emergency Services to develop new wireless facilities in northern Saratoga County targeting rural communities, roads and recreational areas along portions of Great Sacandaga Lake and Sacandaga River.

County Emergency Services Commissioner Carl Zeilman said Verizon Wireless has co-located communications equipment and an antenna on existing county-owned communication monopoles and towers in the towns of Providence, Edinburg, and Day. Construction to co-locate equipment on the county-owned monopole site in the Town of Luzerne in Warren County is set to begin shortly.

The 4G LTE Verizon wireless voice and data services, which are either new and significantly improved, will be expanded into these areas including several miles along County Route 4 (North Shore Road) and County Route 7 (South Shore Road), and into the Hamlets of Edinburg, Batchellerville, West Day, Day Center, Lake View and Hadley.

“The public and our emergency services rely on cellular service for day-to-day communications and Internet access,” said Carl Zeilman, Saratoga County Emergency Services Commissioner “The expansion of cellular service into these previously unserved areas of the County will save lives by enhancing the ability of the public to access 9-1-1, improving the ability of our Communications Center to pinpoint the location of emergencies and delivering seamless communications capabilities to our law enforcement, fire and

EMS responders.”

“Bringing cellular services to the northern part of the county is a tremendous benefit to public safety and first responders,” said Sheriff Michael Zurlo. “The expanded cellular coverage area will maximize response by first responders and provide residents and visitors the ability to dial 9-1-1 from a wireless device in areas where it was once non-existent. I want to commend the Office of Emergency Services for their ongoing efforts and making this day a reality.

The site in the Town of Providence, where Verizon Wireless co-located on the county’s 225-foot self-supporting tower, was the first to go live on June 1, 2020. “We already have seen an improvement in cellular connectivity in the immediate area,” said Sandra Winney, Town of Providence Supervisor.

“I want to thank the County Office of Emergency Services, the Adirondack Park Agency, and Verizon Wireless for working so diligently over the past year to bring much needed cellular service to our community,” said Jean Raymond, Town of Edinburg Supervisor “This will dramatically improve wireless coverage in the area for residents, first responders and visitors.”

“Bringing much needed wireless service to the community is long overdue,” said Arthur “Mo” Wright, Town of Hadley Supervisor.

“Collectively, we have been working on this issue for the past several years and I am pleased to say it is finally coming to fruition.”

Per the agreement, Verizon Wireless will lease space on each communications tower at the rate of $26,400 per year, generating $105,600 in annual revenue for Saratoga County. The initial lease term at each site is five years, and automatically renews for up to eight additional five-year terms.

Saratoga County constructed its communication monopoles in Edinburg, Day and Luzerne in the early 2000s with the primary purpose of serving its emergency radio communication needs.

Zeilman added, “Since assuming the role as the commissioner of Emergency Services, one of our primary focuses has been working to leverage our existing communications infrastructure to bring much needed cellular service to the Sacandaga Lake area. I am proud to say, we turned this vision into a reality.”

BY JILL NAGY The COVID-19 pandemic has changed the dynamics of how offices run and how business meetings are held as companies work to meet health and safety standards.

“Everyone’s jumping on the Zoom,” said Rose Miller, head of Pinnacle Human Resources, an Albany company with an office in Saratoga Springs. Miller is quick to praise Zoom and other remote communication methods, but added, “We’re all looking forward to meeting face-to-face again.”

Saratoga attorney Debra Verni of Herzog Law has been presenting “webinars” on a regular basis covering such topics as “What To Do When A Loved One Dies,” “How Not To Pay For Services,” wills versus trusts, and “Aging in Place.” She has also mastered the complicated new rules for witnessing and notarizing documents remotely. Now she no longer has to meet with clients in a parking lot or back porch to have them execute documents.

“There were a few glitches in the beginning,” she said, but things are going smoothly now.

Patti Gray Whann, owner of Glens Falls Area Realty, said the real estate industry “was way ahead” using online resources for at least 10 years. In fact, one online source, Zillow, has revolutionized the industry.

“In the old days,” she said, “Realtors had the book,” which contained all the information on real estate listings. Clients had to come into the office to look at listings. Now, “Zillow took all the information we had and put it on the internet.”

COVID restrictions prevent real estate agents from attending closings, inspections, and other steps in the purchase and sale process. But transactions can now take place remotely. Also, mandatory continuing education courses are all online this year.

Tim Halliday, a Malta businessman and president of the Malta Business Association, said the current situation “put us three to five years ahead of where we would be anyway.”

He said the trend toward remote communication will continue in the future.

He participates in meetings a couple of times a week and routinely sends documents electronically. Fewer people attend online networking meetings and seminars than previously attended face-to-face meetings, but the meetings are often lively and Halliday finds that people send business to one another, often people who never met in person.

“Frankly, I hate it,” he said, “I like people and for a sales person not to be able to shake hands is awful.”

Compared to other types of remote communication like telephone or email, media like Zoom retain some facial expressions, but it is hard to collaborate or do anything creative, Halliday said. While he finds it “incredibly useful,” he feels that it is a “huge disservice to the consumer” when they can’t go through documents in person.

He is more positive about working from home. He and many of his colleagues like working at home for several reasons, not the least of which is avoiding commuting time.

“There are a boatload of roles that worked perfectly” for working from home, Miller

Debra Verni of Herzog Law uses technology for witnessing and notarizing documents remotely. ©2020 SaratogaPhotographer.com

said. It places more emphasis on what gets accomplished and less on the number of hours worked.

Amanda Blanton, a spokesperson for the Adirondack Regional Chamber of Commerce, said as people are allowed to meet in person safely, the organization will go back to that. In the meantime, the Chamber is using the Zoom platform for educational events and meetings “It’s working out pretty well,” she said, but most people would rather meet in person. The chamber’s staff returned to the office in midJune.

Whann has a daughter in Seattle and has been guiding her, via technology, through the process of purchasing her first home. She began her search, as so many people do, with Zillow.

Then, at her mother’s urging, the daughter drove by properties she thought might interest her. “ But pictures did not tell the full story, her daughter discovered in one case. The picture did not show the noisy nearby bus stop or the city park that has become a campground. The online research “is just the start of the journey,” Whann.

For one client of Whann’s, everything was done remotely.

Miller said she misses visual social cues.

In addition, “looking at a screen has its own limitations” and can cause eye strain and back strain, among other problems.

Also, she said employers can catch a glimpse on Zoom of how people work from home. “There are lots of things going on in the background” like dogs and children wandering by. Overall, though, she said “We’re rolling with it.”

Many online events she has seen were carried out poorly, Miller said.

“You have to rethink the entire thing,” she said. Events should be more interactive and include some “fun” things. There should be colorful and engaging visuals. In other words, things to draw in the participants.

“Think of the audience,” she said, and what it is a meeting needs to deliver.

SARATOGA BUSINESS JOURNAL • DECEMBER 2020 • 13

•

Business Report Protect Your Biggest Investment

BY MICHAEL CRUZ When working on annual planning, we often look at the company’s strengths and its weaknesses. Most often, I see “our people” as a strength. I often see “bench depth” as a weakness.

My advice always is to build on your strengths.

Then, do what is reasonable to mitigate your weaknesses. There is one simple thing you can do to reduce that bench depth pain. Invest in the people you already have. We already know that it costs less to keep our customers than it does to acquire new ones.

The same is true about the people that work for you. Hiring is difficult, it is expensive, and it is not a 100 percent solution. Many years ago, I worked for a very fast-growing software company. When I joined it, the company’s sales were $18 million. When I left, seven years later, sales topped $450 million.

One of the most stunning attributes of that industry was that we were all fairly young and inexperienced. We were a young company and we were a young management team. We worked to figure out our weaknesses and we brought in experts to address them. And that personal growth kept me loyal to the company even when I was offered more money to leave.

I outlasted every person that joined the company when I did. Many others quit. When asked why I stayed, I said the growth afforded me opportunities. Remember, it is cheaper to keep customers.

It is also cheaper to keep customers than it is to replace them. The same is true of employees.

They are harder to find than customers. They are hard to train. The whole process is expensive.

You want to keep your better employees. And your better people want to stay. They want to grow with you.

They want to grow their skills. Continuous learning is part of human nature. Goodemployees always want to learn new things. Many people fear training people because they might leave.

You are right, they might. That is a risk.

But I know that I did not leave companies that invested in me. Employees like to learn new skills (and apply them). And, I know that people do not leave my clients when they get more

Non-Profit CEO

Continued From Page 11 that is not the function of the coach. Instead, an experienced coach will assist the CEO in analyzing situations and creating solutions that work for the organization.

Committing to working with a coach means the CEO must set aside 1-3 hours per month to this activity. While, for many

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Michael Cruz is president of Lighthouse Advisors LLC in Queensbury.

Courtesy Lighthouse Advisors LLC

training and more opportunities.

So, how do you invest in your business by training your people? During annual reviews, identify areas for employee improvement.

YOU do not have to be the one to identify what training will help them. Engage them. Ask your employee to identify programs that might help them.

Figure out the cost. Sometimes it is nominal, as in Fred Pryor training sessions. They teach basic skills for $100 or $200 and regularly come to our area. Sometimes it might include a more expensive program and even travel.

The purpose of growing your people is twofold. One, it helps you accomplish more in your business. That should make you more money. Two, it adds some depth to your business.

And, maybe it relieves some of the stress you have when you realize only one person in the company knows how to do a particular task.

Make sure that what an employee wants dovetails with what your business needs. You want to grow the business, and this is a surefire way to help the business grow. This costs money.

Not necessarily a lot of money. And, you need to plan for it annually. However, keep in mind that this is not an employee cost. It is an investment in your business. nonprofit CEOs, it may seem impossible to find those 1-3 hours each month, it may be an excellent use of time and resources and ultimately translate into better strategies, a more engaged staff and board, and an increase in efficiencies. In short, engaging with a CEO coach is a smart and effective way to improve your nonprofit’s operations. Any time an outside resource is allowed a bird’s eye view into a business, change and growth can occur.

AARP Report Says 26 Percent Of Those Over 55 Are Victims Of Cyber Identity Fraud A report in November from AARP shows that 26 percent of Americans aged 55plus have been victims of identity fraud, according to the organization.

However, more are taking additional precautions to prevent losses of personal information, as 29 percent have placed credit freezes on their credit bureau information following an identity theft incident. More than half have enrolled in identity protection or credit monitoring services, the report said.

The report, “Identity Fraud in Three Acts,” was developed by Javelin Strategy and Research and sponsored by AARP. “Older Americans are leading more digitally infused lives, with two-thirds using online banking weekly, so it’s encouraging to see that many are taking proactive steps to protect their identity following a data breach,” said Kathy Stokes, director of AARP Fraud Prevention Programs. “Passwords still represent a security threat, however; using repeated passwords across multiple online accounts makes it easy for criminals to crack one of them so that all of your accounts, including financial accounts, become accessible.”

According to the report, consumers 55plus want to bank using stronger security authentication. Roughly 90 percent state a desire to use more fingerprint scanning, and 80 percent view facial recognition capabilities as trustworthy forms of technology for financial transactions and private business matters.

The report also said identity fraud victims age 65-plus do not necessarily change how they shop, bank or pay following a fraudulent event, with 70 percent exhibiting reluctance to change familiar habits.

“Criminals are regularly targeting Americans aged 55-plus through a

combination of sophisticated scams via computer malware and also through more traditional low-tech channels via telephone and U.S. mail,” said the report’s author, John Buzzard, lead analyst, fraud and security at Javelin. “The combination of high-tech and low-tech strategies unfortunately gives the upper hand to the criminal — not the consumer.”

The report offers several tips on protecting against identity fraud, including: • Hang up on strangers, and independently verify everything.

• Adopt security practices that go beyond a single password. Start using a password manager tool or app to create and safely store complex passwords.

• Write down important numbers of companies you do business with rather than rely on a web search for a customer service number, as criminals post fake numbers online.

• Secure your devices – mobile phone, laptops and tablets – with a complex password, preferably with screen locks that use a fingerprint or facial recognition.

• Secure personal payments with digital wallets.

The AARP Fraud Watch Network launched in 2013 as a free resource for people of all ages. Consumers may sign up for “watchdog alert” by email or text that deliver information about scams, or call a free helpline at 877-908-3360 to report scams or get help from trained volunteers in the event someone falls victim to scammers’ tactics.

The Fraud Watch Network website provides information about fraud and scams, prevention tips from experts, an interactive scam-tracking map and access to AARP’s hit podcast series, The Perfect Scam.

14 • SARATOGA BUSINESS JOURNAL • DECEMBER 2020

Victorian Walk, First Night Canceled Continued From Page 1

area for a month-long celebration called Victorian Streetscapes.

“The DBA is excited to collaborate with our partners to add the festive element for all to enjoy during this holiday season,” said Deann Devitt, president of the Saratoga Springs Downtown Business Association. “It has been a challenging year for our local businesses, but the outpouring of support from the community has been remarkable.

“This extra holiday cheer is a ‘thank you’ for that support and serves as a reminder that Downtown Saratoga Springs, is, in fact, a destination worth visiting.”

The official kickoff to the season took place virtually on Thursday, Dec. 3 on Facebook Live, when Mayor Meg Kelly light up the Broadway tree signifying the start of Victorian Streetscapes.

“With all of the uncertainty around us, our goal was to turn downtown Saratoga Springs into a festive respite to shop and dine safely,” said Darryl Leggieri, President of Discover Saratoga. “We hope that this will give one more reason for folks to come downtown throughout the season to take in the holiday atmosphere and of course, shop local!”

The new holiday Streetscapes theme includes the 19-foot white spruce that sits in front of Putnam Market on Broadway. The tree, donated by the Charlton School, comes from what originally started as the Christmas Tree Project. Robert Thorpe, Charlton School grounds supervisor, started the project on the school’s Burnt Hills campus 30 years ago.

“I feel very grateful that our program could support the community that has supported us for so many years,” said Alex Capo, Charlton School executive director.

In addition to the large spruce, there are 60 six-foot trees, decorated with lights, in front of storefronts throughout the downtown Saratoga area. Those trees were donated by Ellms Farm in Ballston Spa. While Santa won’t be in his cottage in front of Putnam Market this year, children are invited to bring their letters to Santa and deposit them in a mailbox on the front of the cottage.

As an alternative to in-person visits with Santa, the Saratoga Springs Downtown Business Association and Stewart’s Shops are bringing Santa to the children of Saratoga Springs. On six dates prior to Christmas, children are invited to catch a glimpse of Santa as he travels through Saratoga neighborhoods atop a Tower Ladder fire truck, provided by King Enterprises. Santa Is Coming To Town is sponsored by Stewart’s Shops.

The first of those trips was Dec. 3. Remaining trips include Wednesday, Dec. 16, starting at 6 p.m. in the Woodlands and Meadowbrook area; Saturday, Dec. 19, at 3 p.m. in the East Side area; and Wednesday, Dec. 23, at 2 p.m. on the south side in the Jefferson Street and Union Avenue South areas.

The 2020 Victorian Streetscapes is supported by the Saratoga Springs Special Assessment District, Stewart’s Shops and the Adirondack Trust Co. The list of event supporters includes Discover Saratoga, The Charlton School, Saratoga Land Management Corp., Allerdice Ace Hardware, Anthony Fiorino, Dehn’s Flowers and Gifts, Ellms’s Family Farm, City of Saratoga Springs, King Enterprises, Rotary Club of Saratoga Springs, Best Dressed Windows in Town, Union Hall Supply Co. and Network Saratoga LLC. Visit www.saratogaspringsdowntown.com for more information.

Saratoga Arts new executive director Louise Kerr said the decision to cancel the 2020 First Night was made earlier in the year, mainly due to COVID-19.

“First and foremost is the safety, health and wellbeing of everybody, not just our performers, but obviously the general public,” Kerr said. Secondly, putting on an event like First Night takes a lot of money, which the nonprofit organization is lacking this year due to the pandemic.

Saratoga Arts was forced to close in March, like many other entities, and lost many of its normal fundraising opportunities.

Saratoga Arts is hopeful that the event will be back next year. But is has organized a new monthly event called First Thursdays.

The events will involve live music and dance performances at multiple locations throughout the city.

First Thursdays will begin in January.

Officials hope that program can be expanded beyond the holidays, perhaps with summer programming., Another series, called the Pop Up Holiday Market, will be held from noon to 4 p.m. on Saturdays through Dec. 19 at the center, featuring holiday shopping with local artists in the community.

Additionally, Saratoga Arts is currently open and exhibiting its Annual Members Show, featuring artwork created by member artists, through January 9, 2021. A virtual version of the show can also be viewed online.

More information about Saratoga Arts and its upcoming events is available online at www. saratoga-arts.org.

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Business Report Nonprofit Economic Relief During COVID-19

BY MATTHEW YOUNG Generosity is the lifeblood of a nonprofit organization. Donations can often sustain a charity for generations. But among the devastating impacts of COVID-19 on local communities this year is, unfortunately, the understandable decrease in charitable donations.

This has resulted in many nonprofit organizations experiencing unanticipated financial difficulties.

In such times, organizations often look to their institutional funds for support.

Institutional funds, such as an endowment fund, typically consist of donations established either through a gift agreement or estate planning document, such as a will or trust. Donors are oftentimes interested in the long-term survival of the organization and want to ensure that the charitable services will be available to their communities for years to come.

For this reason, donors often place restrictions on access to the principal (original gift amount), only allowing the organization to access the income (interest) generated by the fund. Normally, this model can sustain a charitable organization, but it can be challenging during times of financial crisis.

Fortunately, New York law provides for a procedure under the doctrine of “cy pres,” which means at or near the donor’s intentions when they cannot be precisely followed. This doctrine allows an organization to modify or release donor restrictions placed on the use of charitable gifts (including gaining access to principal) to provide greater flexibility to weather difficult financial times. Two options are available when seeking cy pres relief.

Nonprofit corporation law The State Legislature recognized the importance for nonprofit organizations to have the ability to modify institutional funds under certain limited circumstances. NPCL § 555 was enacted as part of the New York Prudent Management of Institutional Funds Act (NYPMIFA), which governs the management and investment of charitable gifts and funds held by nonprofit organizations. One of the most significant changes to result from this legislation were the rules regarding the modification of donor restrictions on the use of institutional funds.

NYPMIFA expanded the process for modifying donor restrictions placed on the management or investment of these funds, allowing such changes if the restriction has become impracticable or wasteful or if it impairs the management or investment of the fund.

Additionally, there are sometimes changes in circumstances that could not have been anticipated by the donor, and a modification will be allowed if it will ultimately further the donor’s original purposes and intentions for the fund. NYPMIFA also expanded the process for modifying donor restrictions placed on the purpose or use of these funds, particularly when a fund becomes unlawful, impracticable, impossible to achieve, or wasteful.

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Matthew Young is a member of Bond Schoeneck and King PLLC. Courtesy Bond Schoeneck & King

Both provisions give courts discretion in modifying the restrictions placed on an institutional fund when a donor could not possibly have predicted changing circumstances beyond the control of the nonprofit organization.

Estates, powers and trusts law NYPMIFA explicitly provides that the statutory provisions expanding opportunities for relief will not prohibit the application of the doctrines of cy pres and deviation. A surrogate’s court may hear a cy pres application with respect to a charitable gift established by a will. More specifically, the surrogate may direct that a testamentary charitable gift be administered and applied such that it will most effectively accomplish the gift’s general purposes, whenever circumstances have so changed that literal compliance with the will as written would be impracticable or impossible.

For cy pres relief to be granted, three conditions must be satisfied: the gift in question must be charitable in nature; the donor must have demonstrated a general, rather than a specific, charitable intent; and circumstances must have changed subsequent to the gift to render literal compliance with the restriction impossible or impracticable.

Satisfaction of such conditions demonstrates that a discretionary modification of the charitable gift is warranted, however, it is a high bar to reach and generally, the circumstances need to be quite compelling to obtain desired relief.

Ultimately, during these unprecedented times, organizations may want to consider whether their institutional funds may be available to them through a cy pres proceeding to help them get through the current crises, even if only on a limited, temporary basis.

Young, a member of Bond Schoeneck and King PLLC, regularly deals with nonprofit governance and compliance matters. Delaney M. R. Knapp was a significant contributor to the article.

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SARATOGA BUSINESS JOURNAL • DECEMBER 2020 • 15

Malta Website Seeks To Promote ‘Great Things’ New Book By Brian Rollo Aims To Help People And Become Conduit For Business Investors Accept And Acclimate To Leadership Roles

Malta has a new website designed to highlight businesses and places of interest in the town, an outgrowth of the work of the town’s Economic Development Committee.

The Saratoga County Chamber of Commerce and the Town of Malta announced a new website to feature “all the great things” about the town.

The new web presence is targeted toward promoting the good things happening in Malta, officials said, while also serving as an economic development conduit for businesses considering investing in the town.

The new site, www.MaltaWorks.org, is an outgrowth of the work of the town’s Economic Development Committee. The committee last year launched the Malta Works promotional campaign to promote existing businesses and encourage investment from new businesses.

Officials said the website is the next step in that project, providing a one-stop portal for anyone considering doing business in Malta.

The site will be administered and maintained by Chamber staff at no cost to the town.

“This new website is a great next step for our Malta Works campaign to show the world that Malta is a great place to do business,” said Malta Supervisor Darren O’Connor. “Our entire town government has worked tirelessly for several years to improve the business climate, while keeping our small town charm.

This website is a great window into that effort and I hope businesses and investors find that for whatever their need, Malta Works.”

Building within the framework of the Chamber’s existing site, the Malta Works presence will benefit from the hundreds of thousands of unique views the Chamber website enjoys annually, boosting awareness of all the Town has to offer, he said.

Chamber President Todd Shimkus said

Courtesy Town of Malta

over a two-week period two “we’ve done three ribbon cuttings celebrating small business investments in the town of Malta.

We’ve also seen exciting new investments being made at GlobalFoundries Fab 8 as well as at the Hudson Valley Community College’s TecSmart Facility and in the Luther Forest Tech Park by Scannell Properties.

This website is our chance to showcase all of these investments in the future, as well as to promote the hundreds of small businesses who call Malta home.”

The site features a custom video about Malta produced by the Chamber, as well as a video giving an insider’s view of the technology that goes into the operations of GlobalFoundries, currently home to 3,000 employees.

Malta Councilman and EDC Chair Timothy Dunn said the town, the EDC and the Chamber “have been working together for months on this new platform, and while slowed by the pandemic, we’re excited to roll out this new tool. This site will evolve in time and will constantly improve to make sure we are showing the right content that helps investors keep making Malta a great place to live and work.”

Features of the site include a recent timeline of development, direct links to important Town resources (such as building permit and sign code information), recent ribbon cuttings, and a business directory.

The site will continue to add photos, videos, and content from Malta businesses over time as momentum continues for growth and investment.

To learn more, visit MaltaWorks.org.

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Richard Kessinger Owner

P.O. Box 187 Saratoga Springs, NY 12866

(518) 944-0359

saratogalawnmaintenance@gmail.com

ANDREA HARWOOD PALMER Brian Rollo, a leadership coach and cultural business strategist, has published a new book, “The 10 Habits of Influential Leaders”.

“I wrote this as an actionable handbook for someone who is a people-manager struggling to get results,” said Rollo, who operates his consulting company out of Queensbury. “I highlight the top 10 things that help peoplemanagers get better. Things people can do to get results from their team, and to make leading a team a little less miserable.”

“I tell the story of how I first became a manager, and really struggled in the beginning,” he said. “And I did a lot of research, reading over 50 white papers. I tried to be the channel to distill everything I learned throughout my career, and through extensive research.”

Rollo said the predominant struggle is that some people struggle to step into an authority role. “They may have the title, but they’re afraid to do anything because they don’t want to hurt anyone’s feelings,.”

Others grasp authority too hard. “They need everyone to know they’re the boss,” he said.

“Both approaches are a road to trouble,” said Rollo. “I address this in the book. It usually plays out in how people deal with conflict.”

“It’s easy to be the boss when everyone just says, ‘I agree, I’ll do whatever you say’. But most of the time it is not like that. In real life, there is frequently conflict. When you’re a team member, you can try to stay in your own world.

When you’re a leader, you cannot just ignore it when your team is in conflict. You must be the one to step up and deal with it. If you’re uncomfortable with that, the conflict grows,” said Rollo.

Some managers are in their role through

Brian Rollo is a leadership coach and cultural business strategist in Queensbury.

Courtesy Brian Rollo

merit, some develop management skills through training, and some land in their position by default of being the only person available when the previous director leaves, he noted.

“The book is to help people, bottom line,” said Rollo. “Leadership can be a headache sometimes. Some things work, some things don’t, and managers are often stressed trying to figure those things out.”

Rollo is also host of the podcast “Lead with Impact”, found on Apple iTunes, Spotify and other podcast platforms.

The book can be found on amazon.com. His website is www.BrianRollo.com.

16 • SARATOGA BUSINESS JOURNAL • DECEMBER 2020

REGIONAL STOCKWATCH

Stewart’s Shops Holiday Match Campaign Is Underway To Raise Money For Nonprofits

Stock Name

Closing Price 11/03/2020

Albany Int’l

63.97 68.43 70.76 72.12

Arrow

29.22 30.19 30.70 30.72

AT & T

28.91

Ball

94.65 97.25 96.21 94.16

Ballston Spa National Bank

43.00 43.00 42.80 43.00

Bank of America

27.00 26.81 28.99 29.29

Best Buy

114.30 119.14 112.63 105.57

Citizens Bank

31.75 32.28 34.14 35.43

Espey

18.90 19.18 19.00 20.62

General Electric

9.25

Hilton

105.80 101.76 104.41 110.85

Home Depot

277.17 269.81 275.99 263.99

Int’l Paper

47.89 49.43 50.69 48.87

Key Corp

14.87 15.33 16.15 16.12

Lowe’s

159.23 149.93 154.67 150.00

Martin Marietta

264.14 265.60 270.44 284.94

M&T Bank

118.83 118.09 119.88 128.02

McDonald’s

213.28 214.09 217.04 210.74

National Grid

62.94 61.67 58.50 57.21

NBT Bancorp Inc.

30.20 30.52 31.29 31.97

Plug Power

23.43 24.36 26.24 24.85

Quad Graphics

2.70 2.87 3.49 3.55

Starbucks

95.56 97.01 98.66 102.28

Washington County New Business Registrations

Sysco

71.54 70.00 71.24 78.12

NOVEMBER

Target

162.88 172.31 179.77 175.03

BCS Construction Tile Stone 90 Eddy St Greenwich, NY 12834

Express Pack N Ship 3316 State Route 4 Hudson Falls, NY 12839

The TorontoDominion Bank

49.39 52.62 54.61 55.47

Kaspien Holdings

10.81 12.70 12.77 12.77

Elysian Ink Tattoo Lounge 950 State Route 22 Eagle Bridge, NY 12057

Beckwood Creations 49 Taylor Woods Rd. Fort Ann, NY 12827

Trustco Bank

6.13 6.20 6.29 6.36

McPhees Candy Shop and More 345 Main St. Hudson Falls, NY 12839

Greenwich Massage Professionals 2615 State Route 40 Greenwich, NY 12834

Verizon

61.06 60.04 60.58 61.55

Walmart

150.54 150.24 151.60 148.91

Memorable Interiors 80 Seminary St. Fort Edward, NY 12828

Elite Cleaning Service 3955 State Route 4 Hudson Falls, NY 12839

Dilos 240 Main St. Hudson Falls, NY 12839

Askew and Son Excavating 292 Hoag Rd. Valley Falls, NY 12185

Closing Price 11/20/2020

28.32

9.76

Closing Price 11/27/2020

29.03

10.40

Closing Price 12/04/2020

29.54

10.88

This list of quotations is provided through the courtesy of Robert M. Schermerhorn, CFP®, Saratoga Financial Services, Securities offered through LPL Financial /Member FINRA & SIPC, located in Saratoga Springs, NY. www.SaratogaRetire.com

Stewart’s Shops is teaming up with its customers once again to raise money for local children’s charities through its Holiday Match campaign.

It kicked off on Thanksgiving Day and runs through Christmas Day at all shop locations.

“In these times, nonprofits need our help more than ever with increased strains on staffing, resources and budgets. We are proud to partner with our customers to help those who need it most”, said Stewart’s Shops President Gary Dake.

Last year, customers donated an incredible $895,000 to the program, doubling to more than $1.79 million with the Stewart’s match. The funds were able to support 1,830 local children’s organizations across the 31 counties where Stewart’s shops are located.

The program started 34 years ago.

“The $30 million success story of the Holiday Match program continues to grow, since 1986, with the hard work of our shop partners and the generosity of our customers.

Together, we will help thousands of children in our 31 county market area,” says Amy Potter, Stewart’s Director of Corporate

Contributions.

The goal of Holiday Match is to encourage individual giving and broaden the base of support for local charities. Stewart’s Holiday Match is a nonprofit foundation; all donations are tax-deductible. Stewart’s gladly accepts funds from groups or businesses, but only matches individual donations.

Local children’s organizations are encouraged to apply for funding online at stewartsshops.com.

The deadline for submission is Jan. 31.

All groups applying must be locally based, benefit children under 18, and be a qualified, charitable 501c3 organization. A listing of all the local organizations that received funds last season is available online.

Officials said unlike most charitable programs, the Holiday Match has zero administrative fees. The program only accepts cash donations which eliminates credit card processing fees; and 100 percent of the donations are allocated for children’s charity groups. Every $1 is matched, which means donations are actually doubled. Personal checks are accepted.

Arrow Financial Corp. Donates $75,000 To 20 Health And Human Service Organizations The Arrow Financial Corp. has committed $75,000 to 20 health and human service organizations in the area to show its “gratitude for their important work during these challenging times.”

As part of a Month of Thanks campaign, the Arrow group—which includes Glens Falls National Bank and Trust Co. and Saratoga National Bank and Trust Co.— is reaching out to community partners from Albany to Plattsburgh with the goal of supporting their efforts around food insecurity, child care, affordable housing, emergency assistance, mental health, domestic violence prevention, workforce development and youth services, according to a news release.

“As a community bank, we recognize the important work that our nonprofits perform to lift up our neighbors and get them through hard times,” said Arrow Financial Corp. President and CEO Thomas Murphy.

The Snack Shack 54 River St. Hudson Falls, NY 12839

Arrow has its headquarters in Glens Falls.

All beneficiaries for the cumulative $75,000 provide services within Arrow’s eight-county footprint. This funding is a special contribution in addition to annual community giving, which has totaled more than $4 million in the last decade.

Capital Region beneficiaries include AlbanyCanCode, Boys & Girls Clubs of the Capital Area, Capital District YMCA, City Mission of Schenectady, Franklin Community Center, Interfaith Partnership for the Homeless, Mechanicville Area Community Services Center, Saratoga County Economic Opportunity Council, TRIP & RCHR and Wellspring.

Greater Glens Falls beneficiaries include Alliance for Positive Health, Family YMCA of the Glens Falls Area, Silver Bay YMCA, Salvation Army of Glens Falls, WAIT House and Warren-Washington Association for Mental Health.

SARATOGA BUSINESS JOURNAL • DECEMBER 2020 • 17

Business Registrations •

Halfmoon Sealcoating James Sprague 441 Grooms Road Clifton Park 12065

Adirondack Photocraft Gail Danforth 38 High Rock Ave., Suite 6D Saratoga Springs 12866

Evangeline’s Closet Evangeline Casper 1536 Crescent Road Clifton Park 12065

Skeleton Head Toys Isaac Semko 15 Lakeside Ave. Ballston Lake 12019

Home Guardian David Livarchuk 39 Ocean Spray Boulevard Clifton Park 12065

Grooming By Liz Elizabeth Klahr 147 Route 9 Clifton Park 12065

Young Living Saratoga NY G. Elaine Podwirny 2786 Shaw Road Middle Grove 12850

Honey Bee Rich Body Care Susan Scampini 18 Saville Road Mechanicville 12118

Wick Apothecary Michelle Law 209 Tallwood Drive Clifton Park 12065

Foam Guy Frederick Volkman 698 Route 29 Saratoga Springs 12866

Betta Villa E Mia Maryann Cortese 24 Newcastle Road Clifton Park 12065

Three Crystals Patricia Ayers 76 Catherine St. Saratoga Springs 12866

Primal Roots Health Coaching Tyson Weller 943 Saratoga Road Gansevoort 12831

Betta Villa E Mia Maryann Cortese 24 Newcastle Road Clifton Park 12065

Roland Graves Psychotherapy Roland Graves 1115 Ellsworth Boulevard Malta 12020

Primal Roots Health Coaching Tyson Weller 943 Saratoga Road Gansevoort 12831

Bruce Dickinson Music Productions Stephen Cosgrove 50 Michelle Drive Clifton Park 12065

Roland Graves Psychotherapy Roland Graves 1115 Ellsworth Boulevard Malta 12020

NeverFar CPR Josephine Marquez 202 Tallow Wood Drive Clifton Park 12065

Bruce Dickinson Music Productions Stephen Cosgrove 50 Michelle Drive Clifton Park 12065

Wellspring

Saratoga Springs Launches Grant Program To Help Businesses Retain Low-Income Workers •

Warhorse

Continued From Page 10

Continued From Page 10

shelter for them in a network of local hotels.

Eventually, they formed an agency and hired a director and, Fronk noted, “it grew from there.”

Today, Wellspring has 21 full-time staff members. They help approximately 1,000 people a year in person and another 1,400-1,700 who call the agency’s hotline. The program services staff is augmented by volunteers who serve on the board, teach financial literacy, and provide other auxiliary services.

Fronk has served as executive director for over 18 years. Before joining Wellspring, she worked with a residential mental health facility and with organizations assisting homeless persons and people with HIV/AIDS. Wellspring’s website is wellspringcares. org. Their telephone number is 518-583-0280.

Until the Malta facility is ready, the agency will remain at 480 Broadway in Saratoga Springs.

therapy or any existing treatments.

Saratoga WarHorse offers a one-time, three-day experience which culminates with each veteran participating in a procedure called the “connection process.”

This process can last anywhere from 10 to 40 minutes, and has been empirically proven to improve quality of life and reduce symptoms of PTS and their negative impact, officials said.

The program is currently accepting applications from eligible active duty, reserve, and National Guard troops. To inquire or refer a veteran or service member, or for more information about the program, visit SaratogaWarHorse.org.

Donations to Saratoga WarHorse can be made online at SaratogaWarHorse.org/ donate.

Louise Kerr at Saratoga Arts Continued From Page 1

“It is with great enthusiasm, a fresh perspective, and with the belief in a dedicated team of staff and volunteers at Saratoga Arts, that I look forward to forging new relationships, partnerships and connections that will continue to build upon Saratoga Arts successful history with a focus on the mission of making the arts accessible to all.”

Founded in 1986 by and for artists and audiences, Saratoga Arts’ mission is to

enrich the region by cultivating a vibrant arts community and by ensuring that the arts are accessible to all. In its 30-plus years, Saratoga Arts has brought the arts to over 1,000,000 people through its programs and provided performing and visual artists opportunities to earn over $3 million in art sales and performance fees.

Saratoga Arts is a nonprofit organization that relies on the support of our members, friends and community for its funding.

The City of Saratoga Springs Office of Community Development has launched a COVID 19 Small Business Grant (SBG) program for local businesses.

SBG, administered locally by the city Office of Community Development, is funded by a U.S. Department of Housing and Urban Development grant through the Coronavirus Aid, Relief and Economic Security (CARES) Act. All applicants must agree to federal program requirements.

Officials said SBG serves to preserve jobs held by low-income employees who would otherwise be lost due to the economic impacts of the COVID-19 pandemic. The city can provide relief to small businesses through the provision of 25 to 51 grants of $ 5,000-$10,000 in working capital.

Grant funds may be utilized in a variety of creative ways in order to support the small business, generate income, and ultimately preserve the jobs of low income employees, officials said. These uses may include, but are not limited to: payroll, rent or mortgage payments, utilities, purchase/rental of equipment to facilitate the outdoor conduct of business during winter months, purchase and installation of items and equipment that reduce risk of coronavirus transmission.

Low income is defined as adjusted-gross yearly wages of $33,950 or less, as evidenced by the employer’s most recent payroll records.

Applicants must employ less than 50 people and be able to demonstrate extreme financial

hardship due to the COVID-19 pandemic.

Sufficient documentation must be provided to indicate that the jobs to be retained would be lost without SBG support.

Applications will be accepted through Jan. 4.

Completed applications should be submitted via email to the community development planner at lindsey.connors@saratoga-springs.org, with subject title: sbg application.

The SBG application review team is comprised of a sub-committee of the city’s Community Development Citizen Advisory Committee (CDCAC). The review team evaluates grant applications based on predetermined criteria.

The City Council will consider the review team’s recommendation at a regular meeting or any special meeting. Although any personal financial information is kept confidential, the funding requests are considered public information and will be voted on in open, public session. All decisions by the City Council are final.

The application review team assesses grant requests based on the following criteria: credit history, financial stability (prior to pandemic), job retention feasibility, eligible use of grant funds, absence of benefit duplication, and demonstrated ability to adhere to federal employment and program requirements.

Additional criteria as may be identified by the CDCAC or City Council.

A complete list of SBG eligibility requirements can be found at www.saratoga-springs.org/2587/ COVID-19-Small-Business-Grant-Program

18 • SARATOGA BUSINESS JOURNAL • DECEMBER 2020

Malls Shift Strategies Continued From Page 1

campus—is equipped with the technology and expertise to meet the needs of our most critically ill patients,” he said. “We owe it to our growing community to make the best use of every square foot of that campus by dedicating it to services that can’t be provided anywhere else.”

In addition to Saratoga Hospital, Equitas Realty/Equitas Realty Management is another of the mall’s new tenants. The realty and property management company was previously located in downtown Saratoga Springs.

Hempire State CBD will be also be opening a store at the Wilton Mall in the near future.

Pyramid Management Group’s Aviation Mall in Queensbury is also evolving to meet the changing landscape of the retail marketplace.

In June, they were granted a zoning change that allows the company to build an apartment complex connected to the mall by two short paths.

The project has been temporarily halted due to COVID-19.

Aviation Mall general manager James Griffith said COVID-19 has also impacted other negotiations that were in the works. Retailers are hesitant to make any decisions until the pandemic has ended.

“We were working on quite a few things, then COVID happened. COVID definitely slowed down some of the momentum we had with some of these national tenants. We’re in a holding pattern,” said Griffith.

He noted the mall isn’t just going after retail tenants anymore. The mall is open to uses that typically wouldn’t be in a traditional shopping center.

“One use that has been great this year that is an entertainment use is Adirondack Zombie Hunters,” he said. They were in downtown Lake George and came here about a year ago. They are just knocking it out of the park.”

Adirondack Zombie Hunters occupies a 3,000-square-foot space. In addition to selling survival and military surplus merchandise, the store features two laser-based shooting range simulators.

“We’re fielding a lot of inquiries in terms of different uses coming into the center, so the landscape of what a shopping center is going to look like over the next decade is going to change,” said Griffith. “It’s going to be like a town center with a mix of experiences, services, retail, dining, and residential.”

Malls throughout the country face the additional challenge of reassuring shoppers that it is safe to shop at malls during the COVID-19 pandemic. Aviation Mall and Wilton Mall have intensified their cleaning and sanitizing protocols and are employing the use of electrostatic sprayers to clean nonporous surfaces. Both malls have installed MERV filters that remove a higher percentage of contaminants in the air. Shoppers at both malls are required to wear masks and follow social distancing guidelines.

Since being allowed to reopen in July, the malls have experienced a gradual increase in traffic.

“When we first opened, quite a few of our national tenants had not reopened,” said Griffith.

“We saw the traffic steadily increase when these stores reopened. During the summer, we saw some pretty good traffic based on regional tourism.

We’re not seeing traffic late into evening. That has a lot to do with Regal Cinema not being able to reopen yet.”

According to Shaffer, retailers are forgoing major holiday sales that would attract large crowds. Instead, they are spreading out their sales over a longer period of time.

“Retailers are prepared for an extended holiday season that started early due to a number of factors including pent up demand by shoppers who have missed in-store shopping,” he said.

The pandemic will not keep Santa from making his annual visit to Aviation Mall. Santa will be wearing a mask and following all CDC guidelines, which means children will not be allowed to sit on his lap. Virtual visits with Santa are also available for those who don’t feel comfortable with inperson visits.

For more information, visit shopaviationmall. com and wiltonmall.com.

‘Luzerne Productions’ Video Company Works With Nonprofits To Help With Fundraising

BY ANDREA HARWOOD PALMER “We do a lot of work for nonprofits,” said Bob English, who owns and operates Luzerne Productions, a video production company he opened in 2002.

“It’s such a necessary part of service. For nonprofits, especially right now with the COVID-19 problem, fundraising is a challenge.

Everyone needs to raise money.”

He believes his company can help in that regard.

Luzerne Productions is responsible for many videos shown at area nonprofit fundraisers every year. Most recently they produced a fundraising video for Big Brothers, Big Sisters.

“What usually happens with annual fundraisers is: You get everybody in a room with some cocktails and food, you tell them about your service,” said English. “Then you show them a nice video and people say, ‘Wow, I wanna help’ because the people there are altruistic anyway or they wouldn’t be there to begin with. A video at a fundraiser is great because you have a captive audience. You show a video for 2-3 minutes, and if they’re wiping away a tear when you turn the lights back on, then I’ve done my job. That’s how I know I’ve been successful.”

With COVID-19, people can’t congregate in person.

“What we’ve managed to do is hold a number of fundraisers online, on YouTube Live.

Everyone is already on the internet anyway.

We’ll gather 200-300 people together who are altruistic enough to help the community, and we give them a URL, and a time and date to click on it. The entire fundraising premise will be there for them, pre-produced and put online.”

“Everyone has a website, but if it’s just text, people don’t tend to hang around for very long,” said English. “It takes so much longer for your brain to process words than it does video. My slogan is, ‘Don’t tell me what you do, show me what you do’. With your website, video is such a great opportunity for someone to see your product or service in a way they’ll remember.”

“Most of the time, these annual fundraisers include an auction of some sort,” said English.

“So we take those auctions, and put it online.

English grew up in Brooklyn, New York and graduated from Syracuse University with a bachelor’s degree in TV production, with a minor in political science. He moved to the Capital District in 1973, and spends much of his time on Lake Luzerne.

“I’ve been in the video and television production business all my life,” said English.

He worked at all the local television stations

Bob English owns and operates Luzerne Productions, a video production company.

Newkey Media

over the years and in 2002, decided to strike out on his own.

“I didn’t like the direction the industry was going in,” he said.

Previously, he directed and produced the local portions of the annual Jerry Lewis Telethon. Having worked as a producer, he built relationships with high level leaders and CEOs in the area. When he went out on his own, those contacts would take his calls.

“It helped a lot,” said English. “The first thing I did when I went out on my own was for the Double H Ranch in Luzerne. Neal Golub from the Price Chopper family was on the board and he called me” about help with fundraising.

“We managed to do a half-hour video that was aired on all of the stations around Christmastime. I had Paul Newman do the open and close (of the segment) and I had Rachel Ray walk through the camp. It was extremely successful.”

English has written commercials professionally throughout his career and continues to do so with Luzerne Productions.

“One of the main things I do is throw myself into the cause or service of my clients,” said English. “I learn everything there is to learn about them. I spend a lot of time on the premises talking to people, then I write it ... I throw my heart and soul into it.”

English can be reached at Bob@ LuzerneProductions.com.

The business website is www.luzerneproductions.com and the phone number is 518-584-7788.

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SARATOGA BUSINESS JOURNAL • DECEMBER 2020 • 19

64 Ludlow Street, Saratoga Springs $244,900 Saratoga Charmer! Awesome Saratoga Springs location on the city’s east side - walking distance to Broadway, the race race track, parks, schools. Bright, open & airy with wonderful natural sunlight & cathedral ceiling. Watch the sunrise! This one bedroom 3rd flr condo is move in ready and features an exposed wood beam, breakfast bar, built-in shelves, new carpeting, new light fixtures, & updated bathroom. Stainless steel appliances, ceramic tile & hardwood floor. Shared exterior patio area and front porch. 2 Off street parking spots and basement storage. HOA covers everything but cable/ internet. Main building has been recently updated with new roof, windows, & boiler system, and paint. Garage plan currently under building review.

Listing Agent: Anny O’Neill | 518.369.4188 aoneill@roohanrealty.com

20 • SARATOGA BUSINESS JOURNAL • DECEMBER 2020

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STAFF HOLIDAY PAIRINGS Perrier-Jouet Blason Rose, NV Have with smoked salmon or a beef carpaccio as an appetizer; or make your roast chicken really special

$69.99 Owen Roe “Abbott’s Table” Red Blend 2017 Any of you hunters out there this is just crying out for a good venison roast.

Luigi Baudana, Langhe Bianco “Dragon” 2018 This wine would be perfect for Christmas eve and the feast of the 7 fishes

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Lieb Cellars Cabernet Franc 2019 Red enough to make a steak better than it should be, elegant enough to have with a good piece of fish.

Highly recommended.

Weis Vineyards Gewurtztraminer, 2019 Drier than you think.

Have this with almost anything.

$19.99 Chateau Kirwan, 3rd growth Margaux, 2016 This is the wine you want at your table when you pull the standing rib roast out of the oven. Gosh Darn!

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Marchese di Barolo, Coste di Rose, 2012

Domaine de Durban Muscat de Beaumesde-Venise 2016

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Wild Boar, white truffles, stinky cheese, any food that fights back

$85.99 Six & Twenty Carolina Cream This is dessert in a glass. Honestly.

The heck with baking. Have this instead.

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If you have never had a real Madeira, give yourself a gift.This stuff is delicious.

Have a little with your coffee after dinner.

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$22.99 Pierre Ferrand 10 Generations 1ier Cru de Cognac 92 Proof Go outside, chop something down, wait several years. Burn it in your fireplace. Have someone else pour you one of these. Watch in comfort.

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