SBJ P.O. Box 766 Saratoga Springs, NY 12866
SARATOGA BUSINESS JOURNAL
VOL. 24 NO. 11
HH The Business Newspaper of Saratoga County HH
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JANUARY 2020
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Plans Unveiled To Turn Abandoned Building Tedisco Bemoans Loss Of Population In NYS, In Victory Mills Into Apartment Complex Calls For End To Unfunded State Mandates
This five-story, 230,000-square-foot manufacturing facility that closed nearly two decades ago will be turned into an apartment complex by Regan Development. Regan Development has plans to transform the former Victory Mills, a five-story, 230,000-square-foot manufacturing facility that closed nearly two decades ago, into 186 residential apartment units and a commercial microbrewery. The building is in the Village of Victory Mills in the northeast part of the town of Saratoga, southwest of Schuylerville. The Saratoga County Prosperity Partnership, involved in the project, calls it one of the largest economic development initiatives in the past
Courtesy Saratoga Prosperity Partnership
decade in Saratoga County; a $60 million project that will breathe new life into a long-vacant industrial building. A Westchester County-based entity that specializes in redevelopment projects, Regan Development has done other projects in the area and has a portfolio that includes more than $384 million in new construction and adaptive reuse projects. “In transforming an iconic, but unused building into a modern residential and Continued On Page 6
BY STATE SEN. JIM TEDISCO “I love New York” is New York’s slogan. Unfortunately, too many people are saying “I’m leaving New York!” The millions who have fled our state and those who are now contemplating their exodus to a more taxpayer-friendly state have one thing in common: No one wants to be the last one left in New York to pay for our state’s overzealous taxes, regulations, mandates and laws. New York’s motto is “Excelsior” or “ever upward.” It should not signify “ever-higher taxes.” While there’s been some positive changes, such as the success of the tax cap in holding the line on property tax increases, I’m not going to sugarcoat it and say everything’s coming up roses. By any reasonable metric, New York state and Upstate New York is economically struggling. Consider these startling statistics: The Empire State is ranked number one in the nation for highest tax burden. New York is ranked 50th in the nation for “Tax Freedom Day” (May 3) when taxpayers symbolically pay off all their tax obligations on the federal, state and local levels and start pocketing their hard-earned money. More than 189,000 people escaped from New York last year and one million left the state over the past decade. Millennials making $100,000 or more are leaving New York State at a higher rate than any other state. New York came in as second worst state to retire in 2019. As we begin a new year, New York state government is grappling with a $6.1 billion deficit and the solution our downstate leaders are eyeing is more of the same bad medicine
State Sen. Jim Tedisco represents the 49th District, including part of Saratoga County. Courtesy Sen. Jim Tedisco
that poisoned our state’s economy in the first place: Higher taxes on middle class taxpayers and small businesses. The Assembly Speaker recently said as much when he said last month that “we always believe in raising revenue,” which is Democrat-speak for new taxes. Now that our state government is run by one political affiliation with one voice from one region of the state, my Democratic Assembly colleagues have new allies ready, willing and able to raise taxes in the form of the Senate Majority Leader and her Democratic Conference in the state Senate, along with a governor who has shown a willingness to increase taxes. Continued On Page 10
State REDC Program Gives $5.5 Million Kevin Hedley Becomes Board Chairman Of In Grants For Projects In Saratoga County Saratoga County Chamber Of Commerce Some 13 projects in Saratoga County received a total of nearly $5.5 million from New York state as part of this year’s Regional Economic Development Council grant program. More than $761 million in economic and community development funding was awarded through Round IX of the REDC initiative statewide. Since its inception in 2011, over $6.9 billion has been awarded to more than 8,300 projects that are projected to create and retain more than 240,000 jobs statewide through the REDC process, state officials said. Key among them is $2 million awarded to the Saratoga Performing Arts Center, to rehabilitate the Roosevelt II Bathhouse in the Saratoga Spa State Park. The work will provide year-round spaces that include a teaching kitchen, wellness studio, black box theater, art gallery, rehearsal and learning space. It will also be a year-round facility for regional artists. The largest was a $5 million grant to Ballston Lake to construct a municipal sewer system to serve over 700 properties currently without sewers. The wastewater will be directed to the existing collection system operated by the Saratoga County Sewer District 1. “SPAC’s vision for the future includes an expansion of programming that will include the visual arts, the culinary arts, theater, and health and wellness in cooperation with COESA, in addition to our vibrant performing arts season,” said Elizabeth Sobol, SPAC President and CEO. “This new year-round space will restore a historic Park building that has been abandoned for decades, creating a community hub that will celebrate art in all its forms, while also
providing vital learning and rehearsal spaces.” “We are currently completing the restoration of the grand entry hall and renovations to a portion of the building for COESA to offer health and wellness services this spring. We are thrilled that our long standing partnership with SPAC is growing to include new forms of arts programming in the remainder of the building,” said Erik Kulleseid, commissioner of New York State’s Office of Parks, Recreation and Historic Preservation. The restored building will feature a black box theater, an art gallery, a rehearsal and learning space, and a teaching kitchen that will be operated by SPAC in collaboration with the Saratoga Spa State Park. COESA is slated to utilize 2,70 square feet of the building to provide retreat experiences and classes with offerings that include personal wellbeing, leadership, meditation, professional wellness training, and work-life balance. “Throughout the Regional Economic Development Council process over the past nine years, we have seen unprecedented regional investment focusing on a ground-up, strategic model that has spurred tremendous growth in every corner of this great state,” Gov. Andrew Cuomo said. “By bringing together local leaders and stakeholders who are invested in their communities we have replaced the ‘one size fits all’ approach to economic development with one that is unique to each community, creating opportunities for success all across the Empire State.” The REDC process creates a statewide framework for bottom-up, regional economic growth and streamlining the state funding application process, Continued On Page 17
Kevin Hedley, owner of Hedley & Co. in Clifton Park, is the chairman of the board of directors of the Saratoga County Chamber of Commerce for 2020. He will serve as both the chairman of the 27-member board and the Executive Board. Hedley was chair-elect of the board in 2019, and was the organization’s treasurer, in 2017. He was first elected to serve on the board of in 2014. Joining Hedley on the Chamber’s Executive Board in 2020 are: Theresa Agresta, of Allegory Studios and CultureTalk, in Wilton, immediate past chair; Skip Carlson, of the Saratoga Casino Hotel in Saratoga Springs, chair-elect; Tara Pleat, of Wicenski & Pleat in Clifton Park, vice chair; and Amy Smith of Saratoga Arms Hotel in Saratoga Springs, secretary and treasurer. The Chamber will celebrate its 102nd year at its 2020 annual dinner on Thursday, Jan. 23, from 6-9:30 p.m. at the Saratoga Springs City Center. Officials said nearly 1,000 people are expected to attend The evening will start with a cocktail reception from 6-6:45 p.m., followed by the program running from 7-7:30 p.m. Dinner will immediately follow, along with networking with local business leaders. Dinner will be provided by Mazzone Hospitality. During the program, the Chamber will honor Agresta for her leadership and service to the Chamber and the Saratoga County community. Agresta, owner of Allegory Studios and CultureTalk, will continue to
Kevin Hedley is the 2020 board chairman of the Saratoga County Chamber of Commerce. Courtesy Saratoga County Chamber of Commerce
serve as the immediate past chair. The Saratoga County Chamber will again present the Joseph Dalton Community Service Award to a person who has an strong record of volunteer leadership and action for the betterment of Saratoga County. The award will go to John Munter Sr., the founder of Munter Enterprises construction company on Middle Grove, to recognize his decades of volunteer service to the local community. Continued On Page 17