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Month: August 2021

SEFCU And Cap Com Credit Unions Make Plans To Merge; Finalizing Set For 2022

Posted onAugust 12, 2021

The boards of directors of the CAP COM and SEFCU credit unions approved on July 28 a “merger of equals,” creating “a Capital Region-headquartered financial and community powerhouse” that will become fully integrated next year.

The newly combined entity will be renamed to reflect the respective histories and common values of both organizations, which are rooted in the credit union philosophy of “People helping People” for all stakeholders, officials said.

According to the companies, merging SEFCU and CAP COM is supported on three critical criteria: dedication to employees and their careers; value to our members and their communities; and the ability to succeed in a marketplace that is expected to see significant change and the consolidation of like-minded credit unions.

SEFCU also recently bought the office building along Route 9 in Malta near Ellsworth Commons where a SEFCU branch is located, as well as Ellis Medicine offices.

SEFCU paid $3.8 million for the building at 2537 Route 9 in Malta, according to a deed filed in the Saratoga County clerk’s office.

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Business Report: Goatopia?

Posted onAugust 12, 2021
Rose Miller is president of Pinnacle Human Resources LLC.

By Rose Miller

We found a cool place to vacation in Rhode Island this year. The owner calls it Goatopia. She has created a little slice of heaven beside the Sakonnet River.

She is a former dancer who took her dance studio and her artistic style to create a unique and comfortable guest house for visitors.

The house is surrounded by beautiful gardens where she also tends to chickens and goats daily. The goats have names and you can tell the Billy because he stands proudly on the tallest stump in the pen.

This place got me thinking about how employers tend to their flocks. As employers, we have a responsibility to understand who works for us and what we want people to do for us. Results can be achieved when understanding how employee traits translate into achieving goals.

But here’s the thing. Do you need a herd of goats or do you need a flock of sheep? They may look all the same but there is big difference.

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Business Report: Renovations Can Inspire A Return To The Office

Posted onAugust 12, 2021
Dorothy Rogers-Bullis is owner and president of drb Business Interiors in Saratoga Springs.

By Dorothy Rogers-Bullis

If the past year has taught us anything, it’s that life requires flexibility. We’ve all had to make adjustments both large and small in order to cope with the effects of the COVID-19 pandemic.

Businesses in particular have had to pivot and in many cases reinvent the way they operate in an effort to keep their doors open and ensure employees and customers are safe.

For many companies, the initial solution was to allow certain employees to work from home. Of course, this wasn’t an option for some industries like restaurants, medical practices, and grocery stores. But for many office-based businesses, employers and employees managed to make working from home “work” through a combination of technology and ingenuity, and oftentimes, a whole lot of patience.

Meetings and conversations that used to be done face to face were moved to video conference. Workers figured out new platforms and software, working out the kinks as they went. They stacked up piles of books to get their computer at the right height, found their most flattering lighting, and tidied up their workspace to get it camera-ready.

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Herzog Law Marks 75th Year of Serving Clients

Posted onAugust 12, 2021

This year  marks Herzog Law Firm’s 75th year of serving the Capital Region, Hudson Valley and the North Country.

Created by World War II veteran Jacob Herzog in 1946, Herzog Law Firm has evolved through the years as has the community it has served. Notwithstanding these changes, it has kept its core value of providing exceptional legal services to its clients in place, the firm says.

“Whether by representing local banks, colleges, and corporate clients regarding mergers and acquisitions, or small businesses in their day to day needs and succession planning, Herzog has served as a steady hand guiding local businesses,” said a new release about the company.

Several decades ago, Herzog Law Firm began to develop their Estate Planning, Elder Law, and Estate Administration practices which, through the years, has had thousands of families and individuals as clients.

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Empire State, MVCC Have Transfer Pact

Posted onAugust 12, 2021August 12, 2021

SUNY Empire State College and Mohawk Valley Community College came together  July 13 for a ceremonial signing of six Pathways Transfer Articulation Agreements.

“Each year, approximately 42 MVCC students transfer to SUNY Empire to attain an advanced degree, and our most recent data shows that one-year retention rates for these students are the second highest among transfers from all SUNY community colleges,” SUNY Empire Officer in Charge Nathan Gonyea said. “That’s something we can both be proud of.”

“MVCC and SUNY Empire State College both have a proven, steadfast dedication to our respective student populations,” MVCC President Randall VanWagoner said. “We are thrilled to celebrate an expanded and strengthened transfer partnership that involves the creation of student-friendly pathways from an associate degree at MVCC through a master’s program at SUNY Empire State College.”

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Business Briefs: August 2021

Posted onAugust 12, 2021

The Adirondack Trust Co. Community Fund continues to accept grant applications from eligible nonprofit charities until the submission deadline of Aug. 31.

Grant information and application forms may be obtained from the Adirondack Trust Company Community Fund website at ATCCF.org.

The fund was established in 2009. The primary mission is to perpetuate the spirit of giving that is integral to the quality of life in our region by providing flexible options for planned giving. The resulting yearly Lend-A-Hand Grants help improve the quality of life and address issues of common concern in the area.

In 2020, the Community Fund awarded 37 Lend-a-Hand Grants to local nonprofit organizations.

Since the inception of the Autumn of Giving Match Campaign in 2013, the Lend-A-Hand Grants program has provided more than 235 grants, totaling nearly $462,000 to local nonprofits. Grant awards have supported programs in such diverse areas as veterans outreach, STEM education, summer lunch programs, wildlife education, homelessness prevention, youth services, the arts, and more.

Grant recipients will be announced by the Fund’s Independent Advisory Committee in December. The Community Fund welcomes nonprofit organizations to apply for grants that represent new and creative programs.

* * *

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National Commercial Solar Harnesses Energy For Businesses And Homes In New York

Posted onAugust 12, 2021
Brent McDevitt is the founder and president of National Commercial Solar Advisors Inc., which has an office in Queensbury. The company has simplified the process of going solar for businesses.
Lisa Balschunat

By Lisa Balschunat

National Commercial Solar Advisors Inc., with its office in Queensbury, is harnessing energy for businesses and residential properties in New York state, New Jersey and Vermont, and has its sights on Florida next, according to president and founder Brent McDevitt.

Established in 2019, the company has simplified the process of “going solar” for businesses, communities and public organizations by providing customers with a comprehensive proposal and package that makes the process seamless. With nine years of experience in the solar industry and previously aligned with Apex Solar, McDevitt said that he “knew the industry would pop” and wanted to be a part of it.

“When businesses invest in commercial solar energy they can significantly reduce their operating costs and potentially save tens of thousands of dollars over time,” McDevitt said. “This allows businesses to free up cash flow to use in other areas, and of course, utilize a green energy source that is good for the environment.”

Solar panels do not require any additional maintenance to a building or property and McDevitt stated that most systems are guaranteed for up to 25 years. 

“Businesses who invest in solar energy receive a 26 percent federal income tax credit and 100 percent bonus depreciation” he said.  The company offers customers looking to go solar with a total package of upfront services including a comprehensive proposal, site visit, design plans, state and federal application assistance through to a final contract.

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Promenade Apartments Open As Affordable Supportive Housing In Saratoga Springs

Posted onAugust 12, 2021
Promenade Apartments is a $20 million affordable housing project in Saratoga Springs. These are the two-story units that face West Circular Street. There is also a four-story structure.
Courtesy Bonacio Construction

Promenade Apartments, a $20 million affordable and supportive housing development located in downtown Saratoga Springs, has been completed.

Financed in part with $16.5 million in low-income tax credits through New York State Homes and Community Renewal, the development is providing 63 affordable homes, including 10 apartments reserved for homeless veterans.

Promenade Apartments consist of a four-story building with 41 apartments and three two-story townhouse-style buildings with a total of 22 units. Altogether, the development features 31 one-bedroom, 26 two-bedroom, and six three-bedroom apartments—all affordable to households earning at or below 80 percent of the area median income, state officials said.

It was developed by Norstar Development USA, LP, and the Saratoga Springs Housing Authority. Supportive services will be provided by the Veterans & Community Housing Coalition.

Amenities include Energy Star appliances, a community room with laundry facility, a fitness room, storage space for tenants and an outdoor playground area. The development is also located within a half-mile of retail stores, schools, bus transportation lines, pharmacies, banks, libraries, health centers, grocery stores and restaurants.

The units are at 1 South Federal St., on he same property at Stonequist apartments.

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Cardona’s Market In Albany Buys Roma’s, Including Store On Washington St. In Saratoga

Posted onAugust 12, 2021
Roma’s on Washington Street in Saratoga Springs has been purchased by Cardona’s Market in Albany, a company that has operated there for more than 75 years.
©2021 SaratogaPhotographer.com

By Jill Nagy

Roma Foods Importing Co., an Italian specialty foods company with stores in Saratoga Springs and Latham,  has a new owner and will soon have a new name, expanded menus, and enlarged facilities.

Cardona’s Market, a similar business located in Albany, bought the Roma business in June. They are building a large production kitchen at the Latham location and expanding the kitchen in Saratoga at 222 Washington St., according to Robert Cardona, one of the three brothers who own the company.  In time, the Roma locations will be renamed Cardona’s, he said.

The Cardona brothers, August, Robert Jr., and  Anthony, are the third generation to own the business which was founded in downtown Albany in 1945. Roma also traces its roots to Albany, where it was founded by Frank Bolognino in 1946. His four sons ran the business at the time of the sale. They plan to retire but Frank’s granddaughter, Nicole Bolognino, who manages the Latham store, is staying on through the transition.

The Saratoga store “cranks out sandwiches like crazy,” said Robert Cardona Jr.

Under the new ownership, the store will continue to feature sandwiches but will offer a greater variety, he said. Cardona’s catering menu will be introduced to the Saratoga Springs store, along with expanded take-out items, a steam table for hot food, more “grab and go” offerings, and a few cafe seats for customers who prefer to eat inside.

The new owners expect to move some equipment around and change the layout of the store for better customer flow and shorter waits, Cardona said.

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Lake George Suites Sold For $3.2 Million To Long Island Air Conditioner Manufacturer

Posted onAugust 12, 2021
The Lake George Suites was purchased by R.E. Hansen Industries Inc. of St. James, N.Y.
©2021 SaratogaPhotographer.com

Muroff Hospitality Group announced the sale of The Lake George Suites, 3678 Lake Shore Drive in  Lake George.

The owner of a Long Island air conditioner and pump manufacturing company has purchased the resorts, a six-bedroom home and 20 boat slips for $3.2 million.

R.E. Hansen Industries Inc. of St. James is the new owner.

Mitch Muroff of Muroff Hospitality Group represented the Seller and secured the buyer in a confidential listing presented only to qualified buyers.

The transaction closed on Tuesday, June 15, Muroff said.

The manager who previously oversaw the property will continue in the same position under the new ownership, he said.

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