Saratoga Business Journal

MORR-IS-Stored Is Expanding Its Flagship Storage Building; Will Have Some 800 Units

November 7, 2022

Judy Morris is co-owner of MORR-IS-Stored which is expanding in Wilton.

By Christine Graf

Bill and Judy Morris, owners of MORR-IS-Stored, have responded to the increase in demand for self-storage units by expanding their storage facility at 210 Old Gick Road in Wilton.

They opened their storage business in 2000 and now have two locations.

“We started out with four buildings. The facility that we built was nicer than average, and it really took off right away,” said Bill Morris. “We continued to expand slowly. We started out with 100 units, and we will be up to around 1,800 units. This was our fourth expansion.”

Their flagship location at 210 Old Gick Road is a nonclimate-controlled storage facility. When the expansion is complete, it will be home to 800 units.

“We got approved by the Town of Wilton for 100,000 square feet a little over a year ago. That included our boat and RV expansion. We completed half of that in May of this year. We’re going to let that fill up, and then our next go around will probably be next spring,” he said. “The problem with self-storage is that you build a building with absolutely no tenants. We take a fairly conservative approach. As it fills up, we will move on.”

Local Builder And Broker Cecil Provost Operating Out Of New Offices On Maple Ave.

November 7, 2022

Cecil Provost, owner of Saratoga Construction, Saratoga Modular Homes, Saratoga Log Homes, and ProRealty New York Inc., has moved his offices to 570 Maple Ave., Saratoga Springs.

By Christine Graf

Local builder and real estate broker Cecil Provost has relocated his company’s headquarters to 570 Maple Ave. on Route 9.

Provost is the owner of Saratoga Construction, Saratoga Modular Homes, Saratoga Log Homes, and ProRealty New York Inc. He specializes in building energy-efficient custom and modular homes at affordable prices.

Before making the move to the new headquarters, the company spent 10 years in a leased space on Lake Avenue. Prior to that, they were located on Putnam Street.

According to Provost, the decision to relocate occurred after the perfect property became available. It was purchased in May for $610,000.

“This opportunity came along, and it’s a great location. The building needed some renovations, but we think it will be a nice investment.”

As part of the renovations, Provost transformed the four-bedroom residential home into an office. A 45×50 foot metal garage is now being used as a warehouse.

State Puts $4.2 Million Into Redeveloping Roosevelt Drive In The Spa State Park

November 7, 2022

New York state crews have started work on a $4.2 million redevelopment of Roosevelt Drive within Saratoga Spa State Park.

The project will improve transportation safety within the park by adding pedestrian and bicycling pathways adjacent to the park’s busiest stretch of roadway, which connects the Avenue of the Pines with the golf course, pools, picnic areas, and the Roosevelt Baths and Spa.

Funding for the project came from New York Works capital funding as well as $1.2 million from the federal Land and Water Conservation Fund.

“This exciting upgrade will make Saratoga Spa safer, more environmentally friendly and more enjoyable to cyclists, pedestrians, and guests who visit the many cultural venues in its historic setting,” Gov. Kathy Hochul said. “The $4.2 million project will complement the significant investments we have made to enhance Saratoga Springs’ status as a world-class recreational and tourism destination.”

Officials said the roadway will be moved away from the classical arcades, making space for a large circular patio as a welcoming gathering place to kick off exploration of all the park has to offer.

Part of the Park of the Arts initiative, the corridor improvements mark another major milestone in the restoration of the National Historic Landmark campus. The project will also create expanded parking to service the Spa Little Theater and the recreational and cultural attractions of the Roosevelt Campus, as well as to provide new EV charging stations.

New stormwater management features will help protect water quality, stabilize water temperature, and improve brook trout habitat in Geyser Creek. These include installing underground stormwater chambers and porous asphalt at the expanded parking lot to filter rainwater and allow it to slowly infiltrate back into the soil, reducing stormwater runoff and sedimentation flowing into Geyser Creek.

Partnership Opens Ace Hardware Store In Clifton Park, Their Third In Capital Region

November 7, 2022

Rob McDonnel is part of a partnership that opened Robinson Ace Hardware on Lapp Road in Clifton Park. The group also has stores in Albany and Slingerlands.

By Andrea Harwood

The owners of Robinson Ace Hardware have expanded by acquiring a third store, Crescent Ace Hardware, located at 135 Lapp Road in Clifton Park.

The two other stores are located at 1874 West Ave in Albany and 1900 New Scotland Road in Slingerlands.

The purchase came about as the partners were looking for opportunities to expand.

“We did a whole-store renovation inside, doing a complete reset with design, fixtures and products,” said McDonnell.

He said the partners wanted a store with up-to-date inventory, with a layout design that flowed well. The reset took around three months. McDonnell said all has been running smoothly and the store anticipates having a strong finish to the year.

The partners teamed up with Ace Hardware directly for design and renovations, with many local subcontractors being used. Inventory was updated based on demographic research.

Saratoga PLAN Dinner At Springs Event Barn Raises $100K For Groups Conservation Work

November 7, 2022November 7, 2022

Saratoga PLAN’s first PLAN For the Future event took place Oct. 20 at Juniper Springs Event Barn in Corinth, with over 150 guests attending.
Courtesy Saratoga PLAN

A Saratoga PLAN fundraiser event last month raised over $100,000, organization officials said.

The first PLAN For the Future event took place Oct. 20 at Juniper Springs Event Barn in Corinth, with over 150 guests attending.

The money raised supports Saratoga PLAN’s ongoing land conservation and stewardship efforts across Saratoga County.

Guests were treated to an expansive selection of food and drinks including honeycrisp vodka from regional distillery 1911 Spirits; local craft beer and wine from Artisanal Beer Works, Common Roots Brewery, Adirondack Winery and Old Tavern Farm; and offerings from chef David Britton’s roving food truck, Pies on Wheels.

Those offerings included such as wood-fired pizza and farm-to-fork dishes like zucchini parmesan with ingredients from Pleasant Valley Farm in Argyle, and chicken with tikka masala rub from Full Circle Farm in the Hudson Valley. Jazz music was provided by lGrand Boubousse. The evening concluded with sweet treats donated by local baker Leah Stein of Leah’s Cakery in Round Lake.

PLAN’s new executive director, Rob Davies, welcomed guests. He spoke about his transition earlier this year from the DEC state forester for 22 years, to working in nonprofit land conservation in the Saratoga region.

“The future of conservation today is protecting family farms and wood lots in our communities across the state,” he said. “It is protecting those special open spaces in our backyards where we live, work, and play every day that form the character and quality of life of our communities that are under so much pressure today.”

Study Says Hotel Leisure Travel Revenue Will End Year 14 Percent Ahead Of 2019 Levels

November 7, 2022November 7, 2022

U.S. hotel leisure travel revenue is projected to end the year 14 percent above 2019 levels, while hotel business travel revenue is expected to come within 1 percent of 2019 levels, according to an analysis by the American Hotel & Lodging Association (AHLA) and Kalibri Labs.

The projections are not adjusted for inflation, and real hotel revenue recovery will likely take several more years, officials said.

Post-pandemic recovery remains uneven, particularly in many major cities and destinations where business travel continues to lag. Among the top 50 U.S. markets, 80 percent are projected to see hotel leisure travel revenue exceed 2019 levels, but just 40 percent are expected reach that milestone for business travel revenue. Many urban markets, which rely heavily on business from events and group meetings, are still on the road to recovery.

Other study said the uptick in revenue is leading to historic career opportunities for hotel employees, with more than 115,000 hotel jobs currently open across the nation. Hotels are offering potential hires a host of incentives to fill vacancies—81 percent have increased wages, 64 percent are offering greater flexibility with hours, and 35 percent have expanded benefits, according to a September 2022 AHLA member survey.

“The hotel industry continues its march toward recovery, but we still have a way to go before we fully get there,” said AHLA President and CEO Chip Rogers. “That’s why AHLA remains focused on working with members, lawmakers and stakeholders in markets that are rebounding more slowly to ensure the full return of meetings, conferences, and group travel in addition to leisure and business travel.

“At the same time, we are continuing to grow the industry’s talent pipeline by highlighting the unprecedented career opportunities hotels are offering. Thanks to higher wages, better benefits, and more flexibility and opportunities for advancement, there has never been a better time to work at a hotel.”

Saratoga Springs Revamps New Year’s Eve Celebration Into Festival Over Three Days

November 7, 2022

The Delvon Lamarr Organ Trio will perform at the Saratoga New Year’s Fest.

First Night, the once heralded event on New Year’s Eve where thousands of people came to Saratoga Springs to ring in the new year, returns this year in a revamped form.

It was absent for two years due to COVID and funding concerns.

It also has a new name—the Saratoga New Year’s Fest—and is a multi-day attraction with live music, family-friendly activities, a 5K and fireworks.

One of the headline acts will be the Cowboy Junkies, a popular alternative country and folk rock band from Canada.

Rock, blues, jazz and country artists are among the festival’s growing lineup. Other acts include The Samples and the Delvon Lamarr Organ Trio, who will perform on the main stage at the Saratoga Springs City Center (as will the Cowboy Junkies).

Other acts announced include the Grateful Dead-inspired Garcia-inspired Deadgrass & Friends, country music rising star Jenny Grace, Grit N Whiskey, Kevin Richards, Cait Devin, Danielia Cotton, Albert Cummings, Jeffrey Gaines and Heather Maloney.

The Saratoga City Music Hall will also host contra dancing. The weekend-long festivities will begin with a Friday night kick-off party on Dec. 30 at Putnam Place.

Holiday Parade And Tree Lighting Festivities Taking Place In Ballston Spa On December 2

November 7, 2022

The annual Holiday Parade and Tree Lighting will take place on Friday, Dec. 2 on the north side of Milton Avenue, proceeding to West High Street.
Courtesy Ballston Spa Business & Professional Association

The Ballston Spa Business & Professional Association has begun preparations for its annual Holiday Parade and Tree Lighting taking place on Friday, Dec. 2 on Milton Avenue in the village.

A home-town style tradition, the event typically draws hundreds of spectators to Ballston Spa to watch the decorated floats, fire trucks and community groups parading through the village.

The parade steps-off at 6:30 p.m. on the north side of Milton Avenue and proceeds to West High Street. Following the parade, Mr. and Mrs. Claus will arrive on the back of an Eagle-Matt Lee Fire Company truck to light the tree in Wiswall Park.

Parade entries will be judged this year in the following categories: Best Emergency Vehicle, Best Float, Best Walking Entry, and the Brightest Light Award.

The parade will once again spotlight the Toys for Tots campaign, in partnership with the Ballston Spa Community Emergency Corps, Saratoga County Sheriff Department and the U.S. Marine Corps. Volunteers from these organizations will be on hand to collect donations of new, unwrapped toys from spectators along the parade route as well as at the tree lighting.

Business Report: Charitable Giving: Maximizing Tax Benefits

November 7, 2022

Bill Canty, CPA, CFP, founder, CFM Tax and Investment Advisors.

By Bill Canty

Charitable giving is a great thing to do regardless of whether or not you are able to realize a tax benefit.

However, if you can help others and realize a tax benefit this is a good thing and might even allow you to give a little bit more. Here are some things to know in trying to maximize the tax benefits of charitable giving.

The standard deduction is a reduction in taxable income available to all taxpayers regardless of whether or not they can itemize deductions or have any tax credits. For 2022, the standard deduction is: Single and married filing separately, $12,950; married filing joint, $25,900; and head of household, $19,400.

If you have itemized deductions in excess of the standard deduction, you can deduct that amount from your taxes. Examples of itemized deductions include: property taxes, state income taxes, mortgage interest, medical expenses and charitable contributions.

Charitable contributions can be made in a number of ways that can qualify as an itemized deduction. These include direct gifts of cash, gifts of securities like stocks, mutual funds, and ETFs, and gifts of property such as real estate, art, and collectibles.

The amount that can be deducted as an itemized deduction is as high as 60 percent of adjusted gross income for some cash donations, dropping to 50 percent or as low as 20 percent for other types. This percentage can also vary by the type of organization.

Business Report: Should You Consolidate Retirement Accounts?

November 7, 2022

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

By Rob Snell

One of the rewards for working over several decades is the ability to contribute to tax-advantaged retirement accounts, which can help provide needed income for you when you do retire.

As the years went by, you may well have accumulated several retirement accounts, such as IRAs and 401(k)s or similar employer-sponsored plans. But you might find it advantageous to consolidate these accounts with a single provider.

Consolidating them can provide you with several potential benefits, including these:

• Less confusion and clutter. If you have multiple accounts in different locations, it may be difficult to keep track of tax documents, statements, fees, disclosures and other important information. Consolidating accounts could help provide clear, simplified account maintenance.

• Less likelihood of “lost accounts.” It may be hard to believe, but many people abandon their retirement accounts, leaving thousands of dollars behind and unclaimed. In fact, at the end of 2021, there were nearly 25 million forgotten 401(k) accounts, worth about 20 percent of all 401(k) assets, according to an estimate by Capitalize, a financial services company that helps individuals roll over retirement plan assets into new accounts.