SARATOGA SPRINGS — Jaime Williams has joined the team at Roohan Realty as a Licensed Real Estate Salesperson.

For over 17 years, Williams has worked at Franklin Community Center, a non-profit human service agency located in downtown Saratoga Springs. She was involved in program management, fundraising and development. In addition to her involvement with Franklin Community Center, Williams serves on the Board of Directors for the Ballston Spa Education Foundation. Originally from Massachusetts, Williams moved to Ballston Spa in 2003. 

Roohan Realty, located at 519 Broadway, is celebrating 52 years of serving the community’s residential and commercial property needs. Williams can be reached at 518-226-9478 or:  jaime@roohanrealty.com.

SARATOGA SPRINGS — Former Manhattan ADA turned boxing promoter and founder of One With Life Organic Tequila (OWL) Lisa Elovich embarks on a new partnership with four world champions.

The team of boxers joining the brand include Teofimo Lopez, the current unified Lightweight World Champion and the youngest four-belt champion in the history of boxing; Hall of Fame Heavyweight Champion Larry Holmes; Lightweight Hall of Famer Ray “Boom Boom” Mancini; and “The Real Million Dollar Baby,” Maureen Shea Carranza, a WBC & IFBA Featherweight Champion.

“I wanted to start a new business and I wanted to do something that was exciting like boxing… when I thought about what’s fun and light-hearted, I thought about tequila,” Elovich explained in an interview with this paper in 2018, when the Spa City local discussed taking her Tequila brand national. 

“I look at life like an adventure, I like to keep life fun and interesting and never get stuck in a rut. I like to get out of my comfort zone and learn new things and really have fun with life, so I don’t normally stick to one career very long,” Elovich said.

She had worked in criminal justice for 28 years. She was a prosecutor in New York City, worked at the Attorney General’s office and was an administrative law judge for child abuse cases. More recently, she was on the parole board as the parole commissioner. She first became interested in boxing by attending classes to lose some baby weight. In her years as a boxing promoter she has had shows on ESPN and MSG. 

“Both boxing and tequila are sexy, exciting and have a passionate fan base,” she says.  “If you aren’t fully engaged in the present, whether in life or in the ring, you can get punched in the face figuratively…or quite literally if you’re a boxer. My new business partners understand the One With Life philosophy better than anybody as you don’t become a champion by losing focus and getting knocked out.”

One with Life Organic Tequila is hand crafted from sustainably grown and farmed Blue Agave in Jalisco, Mexico. For more information, go to: onewithlifetequila.com

SARATOGA SPRINGS — Chad Beatty and Mike Nelson have launched Saratogabusinessreport.com, a new online presence with a county-wide focus targeting area business owners and managers to assist them in better navigating the act of doing business in Saratoga County.    

The launch of the site, which went live in late February, adds to a growing portfolio of digital properties for Beatty and Nelson, who launched saratogabride.com in February 2020. 

“As a digital marketing company, we are always adapting to a changing digital landscape. We saw the need for a strong business focused news site locally and decided it was time to use the resources we had available to launch saratogabusinessreport.com,” Nelson said. “Our mission is to add as much value as we can to our clients and their digital marketing efforts.” 

Beatty has been a resident of Saratoga County for nearly 20 years and owns Saratoga Publishing, which produces Saratoga TODAY newspaper which launched in 2006. 

“My goal has been to grow the local business coverage in Saratoga TODAY, but as a weekly newspaper we just don’t have the space. Going online with a Saratoga County focus is the perfect solution,” Beatty said. “In 2005 I ran the state business newspaper in NJ and found it really exciting and rewarding. So, adding the Saratoga Business Report to our digital portfolio makes complete sense.”

The partners say that while Saratoga has the monthly newspaper Saratoga Business Journal, and Albany has the weekly Business Review, they felt there was a digital hole in coverage for the business community in Saratoga County. 

“We’re in our ramp-up phase so we’re trying to get five new pieces per week on average. That will increase as we move forward and we’ll also be adding in events,” Beatty explained. “Sites like this are always a work in progress. We plan to expand what the site is offering in the coming months as we build it out more,” Nelson added. 

Saratoga Business Report is interested in hearing from Saratoga businesses with announcements – from new employee hires and anniversaries to events, and new product launches. 

For more information, go to:  saratogabusinessreport.com.

SARATOGA SPRINGS — The Adirondack Trust Company (ATC) recently announced that it has donated $1,750 to Saratoga PLAN as part of its annual ATC Credit Card Donation. Once per year, Adirondack Trust donates a percentage of the interest earned on credit-card balances to a local, 501(c)(3) nonprofit organization. The organization is selected as part of the ATC survey that is sent out annually and chosen by ATC credit-card customers.

PLAN, which stands for “preserving land and nature,” connects people to nature through an extensive trail network with more than 200 miles of trails in the country. The organization is a community-based conservation organization, focusing on conserving places for people. The ATC Credit Card Donation will help further its mission of protecting land for all.

“Saratoga PLAN is extremely grateful for this generous donation from the Adirondack Trust Company. We will put it to good use conserving fertile farmland, protecting woods and waters and wildlife habitats, partnering with towns protect their natural resources, and creating safe and welcoming outdoor spaces for the public to enjoy,” said Saratoga PLAN Executive Director Maria Trabka.

For more information on Saratoga PLAN visit SaratogaPLAN.org. For more on ATC visit adirondacktrust.com

STILLWATER ­— National Park Service Regional Director Gay Vietzke has named Leslie Morlock as superintendent of Saratoga National Historical Park in Stillwater. Morlock begins her new role on March 28.

“The victory at Saratoga changed the entire course of the American Revolution,” Vietzke said. “The park has an important role to play as we get closer to America’s 250th birthday in 2026. Leslie’s background in planning, visitor use management and partnerships provides a crucial skill set needed to lead the park as we approach this milestone.”

Morlock comes to Saratoga from Delaware Water Gap National Recreation Area where she served for eight years as chief of strategic planning and project management. During this time, she oversaw a variety of programs, including safety, lands, leasing, project management and environmental compliance. Morlock spearheaded the planning effort for the park’s newly released Visitor Use Management Plan. Prior to joining the National Park Service, Morlock worked for county governments in Colorado, Pennsylvania and New York and as an archeologist in the private and public sectors. She started her career at Hawai’i Volcanoes National Park. Morlock holds a Bachelor of Arts in anthropology and environmental studies from Grinnell College and a professional graduate certificate in Leadership for Public Lands and Cultural Heritage.

Morlock is originally from southeastern Minnesota and has been living in the Pennsylvania-New York region for the last 19 years. Leslie, her husband, Jim, and their dog Murphy are looking forward to taking on the 100-mile challenge exploring the trails at Saratoga.

SARATOGA SPRINGS — The Belmont Child Care Association, Inc. (BCCA) announced this week that its new childcare center serving families and children of the backstretch community at Saratoga Race Course is scheduled to open in summer 2021.

The 4,300-square-foot childcare center will be located on the Oklahoma side of the Saratoga backstretch. Funded by Michael and Lee Dubb, the facility will be named Faith’s House in honor of Faith Dubb, mother of BCCA founder and board chairman Michael Dubb.

Faith’s House will provide child care and early education programs for infants, toddlers and preschool-aged children. The center will be open seven days a week from 5 a.m. to 5 p.m. to accommodate the schedules of backstretch workers and horsemen. 

The anticipated summer 2021 opening coincides with the annual summer meet at Saratoga Race Course, which brings approximately 950 backstretch workers and their families to the Spa. The opening of the new center is contingent upon licensing approval from New York State and the New York State Office of Children and Family Services.

SARATOGA SPRINGS — Dr. Sara Ryan and the staff at Springs Family Veterinary Hospital announced the arrival of Dr. Amy Bergin to their team. 

Dr. Bergin received her doctorate in veterinary medicine from Cornell University in 2002. She spent the first four years of her career in a progressive small animal practice in Rochester before returning to practice medicine in her native city of Saratoga. 

Dr. Bergin is well-known in our area for her calm, gentle approach with animals and compassionate bedside manner with owners. These qualities, coupled with Dr. Bergin’s outstanding medical skills, make her a perfect fit for Springs Family Vet’s Fear Free philosophy and high standard of care. 

“I am thrilled to have Dr. Bergin join us,” said Dr. Sara Ryan, founder of Springs Family Veterinary Hospital. “Her gentle nature and experience will make her the perfect addition to our team.”

Dr. Bergin’s special interests include small animal behavior, internal medicine, dermatology and geriatric medicine. She especially enjoys communicating with clients and educating them about their pet’s health. Dr. Bergin is a Fear Free certified practitioner and is currently accepting new patients.

Springs Family Veterinary Hospital, located at 9 Hampstead Place in Saratoga, was established in June of 2019. This modern, state-of-the-art facility offers preventive, diagnostic and urgent care for the Capital Region’s beloved pets. The hospital was a winner in Saratoga Today’s “Best of The Saratoga Region” for 2020.  For more information about Springs Family Veterinary Hospital, please visit www.springsfamilyvet.com.

WASHINGTON — The U.S. Department of Housing and Urban Development this week awarded more than $2.7 billion in funding to nearly 2,900 public housing authorities (PHAs) in all 50 states, as well as the District of Columbia, Guam, Puerto Rico and the U.S. Virgin Islands to make capital investments in their public housing units. 

New York PHAs were awarded nearly $675 Million. PHAs in the Capital District were awarded $11,334,166. 

“Every family deserves a safe place to live and HUD’s Capital Fund Program enables public housing authorities to improve, maintain, and upgrade existing housing,” said Stephen Murphy, HUD Deputy Regional Administrator for New York and New Jersey, in a statement. “Repair and improvements ensure affordable homes will last, providing a haven to thousands of low-income individuals and families across New York State.”

The grants are provided through HUD’s Capital Fund Program, which offers annual funding to all public housing authorities to build, renovate, and/or modernize the public housing in their communities. Housing authorities can use the funding to complete large-scale improvements such as replacing roofs or making energy-efficient upgrades to heating system and installing water conservation measures.

 For more than 80 years, the federal government has been investing billions of dollars in developing and maintaining public housing, including providing critical support through the Capital Fund grants announced this week.

The New York City Housing Authority garnering just over $600 million in the Fiscal Year 2021 Capital Fund allocations. The remaining near-$75 million was spread across the rest of the state and included $800,833 for the Saratoga Springs Housing Authority. Other area agencies included: Albany Housing Authority $4,285,965; Glens Falls Housing Authority $455,377; Schenectady Municipal Housing Authority $2,738,957; and Troy Housing Authority $439,316. 

SARATOGA SPRINGS — After serving Spa City customers for more than a quarter-century, a popular Phila Street eatery has closed its doors for the final time. 

Four Seasons Natural Foods, which stood at the corner of Phila and Putnam Streets since 1990, is in the contract process of being sold to new owners.   

“In the restaurant business, it’s a crazy ride,” says owner Richard Frank. The store portion of Four Seasons was relocated in 2014 to 120 Henry Street – where it has and will continue to operate – and the Phila Street location was re-configured into the Four Seasons café.

In 2020, the COVID-19 pandemic spread across the country, and like many other businesses, the Phila Street venue was affected. “Everybody took a hit in sales, but as far as ours, last summer we were doing about 25% of what we had been doing the summer before,” says Frank, who grew up in Pennsylvania and was introduced to Saratoga when he began spending summers here at the age of nine. 

Four Seasons was launched in 1988 near Caroline Street and Broadway and relocated to Phila Street in 1990 when Frank joined the store, leasing it for a handful of years before eventually purchasing the building in the mid-1990s. A relocation of the Four Seasons “store” to 120 Henry Street was made in 2014, with the Phila Street location moving into its “café” phase. The company scaled back during the pandemic in 2020 and closed its Phila Street doors in November. 

“The moral of the past year is that you have to be flexible. What we thought we know, we don’t, and you have to be able to adapt,” Frank says.  “I was sort of waiting to see what would happen next when a nice couple came and offered to buy the building. It made sense.” 

The sale is under contract and as for future use, the expectation is the couple purchasing the building are interested in a retail endeavor. Since the 1930s, the single-story building has served as meat market and a grocery store, a military recruitment center, a wine store, and as Mrs. London’s Bakeshop and Restaurant during the 1980s. 

“We were there 31 years, but overall, I think it’s great because the people seem super-excited and it’s great to see someone who’s going to love the building. It’s a great corner,” Frank says. “It’s definitely a loss of a casual vegan restaurant,” Frank acknowledges; however for Four Seasons at 120 Henry St., life goes on. 

“We’ve always done sandwiches and soups and we’ve been augmenting our kitchen a little. We do our desserts at the café, but we’re going to be able to do them here. Over time (post-pandemic) we might be able to re-organize and have some sort of casual eat-in,” he says. “To some extent we’re not really doing anything different; yes, the café is a big piece that now won’t be part of us, but we’re still in business, we’re still doing food, I still have food service I believe in and we serve good products, so it’s not an end of the road or anything like that. If anything, it’s better here, better for our staff and better for our customers.”

A common risk to investments that is typically an afterthought is the risk that your money will lose purchasing power in the future. Why is it an afterthought? Its symptoms are mostly imperceptible from day-to-day, so we focus on more pressing things like the potential loss in value caused by a March 2020-style crash. In our hopefully-soon-post-COVID environment, we will be forced to grapple with the effects of the massive efforts taken by both the government and Federal Reserve to keep our economy afloat. Where will we feel the effects? What can be done to protect your investments?

Inflation is tricky. There is no easy way to define it. On the surface, it seems simple – the price of things going up. But which things? How much weight should we assign each item in a basket of goods? We are also not entirely sure what causes it. Many prepared for a hyperinflationary environment in the wake of the Global Financial Crisis that never materialized. Everybody is well aware of the inflation that has existed throughout the past decade(s) in healthcare and education, but perhaps post-COVID inflation will look different. A rush to the suburbs and a shortage of housing supply has seen the price of lumber quadruple in less than a year. We have also seen the price at the pump awake from its slumber and essential agriculture commodities like corn and soybeans have appreciated meaningfully in the past few months.

In a portfolio, fixed income will bear the brunt of inflationary pressures the most. This makes sense. If you are expecting to receive a pre-defined stream of future payments in a world where future dollars are worth less, the price of that instrument will adjust downward to reflect this. An allocation to an inflation-protected bond issued by the government would help to offset this. Another option to protect your portfolio is commodities. They were the hedge of choice at the beginning of the last decade, but they were coming on the heels of explosive growth in the prior decade and needed a chance to breathe. As you can see in the accompanying chart, they have been lying in wait for the last five years and this could be their time to shine. 

It should be mentioned that nothing is set in stone and decisions about your investments should be made in the context of your complete financial picture. Focusing on just one risk that may or may not materialize potentially leaves you exposed in other areas. A finely tuned financial planning process combined with investment implementation can only help to set you up for financial success.

David Rath, CFA is a Director of Portfolio Strategies at Continuum Wealth Advisors in Saratoga Springs. Continuum Wealth Advisors, LLC is a Registered Investment Advisor through the Securities and Exchange Commission.