MOREAU — The Clean Air Action Network of Glens Falls has filed an Article 78 petition against the Town of Moreau Planning Board and Saratoga Biochar Solutions, alleging that the Planning Board did not follow the State Environmental Quality Review Act before green-lighting a proposed agricultural fertilizer plant by Saratoga Biochar.

But Ray Apy, CEO of Northeastern Biochar Solutions, says the claims made are not accurate, saying they are “a delay tactic.”

“While we would not provide details specific to our planned response to the Article 78 complaint, I can tell you that the complaint is simply a delay tactic that is severely flawed in logic and law and will be readily defeated,” Apy said in a statement. “None of the claims made are remotely accurate.”

The planning board had issued a conditional negative declaration for the project in March, ruling that it would not have adverse environmental impacts. The petition filed by CAAN, however, says that the planning board has received “a variety of information” that should have led to the decision being revisited.

According to a release by CAAN, this information includes, “Saratoga Biochar’s admission that its facility would release PFAS into the air and that the sewage sludge would be trucked in from downstate and western New England.”

The Biochar facility would be the first in New York State and would use pyrolysis to convert as much as 720 tons of sewage sludge per day into biochar, a charcoal soil amendment, according to the release. The facility would also release quantities of carbon dioxide, nitrogen oxide, PFAS, and more.

A positive SEQRA declaration would have forced Saratoga Biochar to produce an Environmental Impact Statement, the release says, which would detail the project’s impact on the community. 

“The interim planning board chairperson told me that in his 18 years on the Moreau Planning Board, no applicant has ever been required to do an Environmental Impact Statement,” said Clean Air Action Network chair Tracy Frisch in the release. “Such a track record suggests that the planning board has not been using all the tools at its disposal to protect the best interests of the community. Not only is the planning board failing the people of Moreau; it is also breaking the law.”

CAAN is aiming to have the Planning Board’s conditional negative declaration ruled invalid, and have the project re-examined by the Board.

Apy continues to dispute the suit, saying it is “unfortunate” that CAAN has chosen to fight and delay the project.

“What is really unfortunate in this is that a group that self-describes as ‘environmental’ has filed a complaint that will only delay a project that has tremendous environmental and human health benefits,” Apy said in his statement. “This does not change our plans for the Moreau Industrial Park at all.”

Markets are difficult. Anyone who says differently is a fool or a liar. Entering this year, many were looking at the potential for inflation to rear its ugly head. However, it has been hard to capitalize. Imagine this: on January 1, 2022, you were given all the future inflation readings for the year. How would you have invested your money? Gold? Bitcoin (“digital gold”)? Inflation-protected government bonds? The correct answer, and its implications, may surprise you.

The U.S. dollar has been one of the best-performing assets year-to-date. How is it possible that your money, which is clearly buying less and less food, fuel, and housing, is doing well at all, let alone outperforming? It is important to understand that everything is relative. If you were to go on a trip to most places in the world right now, the amount of foreign currency you would receive in exchange for your dollar would be higher than at the beginning of the year. This represents outperformance in the foreign exchange market. Relative to stocks, bonds, and even gold, just treading water by holding cash has been more attractive than the double-digit negative returns by each of those asset classes. Those owning “real” assets like a house have seen that portion of their net worth grow, but higher interest rates probably prohibit taking advantage of those higher Zillow prices. After all, you will have to live somewhere when you sell, and a 7% mortgage is much less attractive than a 3% one.

A strong dollar has massive implications beyond being able to take a cheaper European vacation. For starters, multinational corporations based in the United States conduct business in many different currencies. A strong dollar makes it more expensive for them to convert those foreign currencies back into their home currency. Fewer dollars due to unfavorable conversion factors means lower profits for those types of companies. Additionally, if you hold international stocks in your portfolio, part of the relative weakness is due to that currency conversion. 

Another byproduct of a strong dollar is the adverse pricing of commodities like oil for foreign countries. The Dollar is the world’s “reserve currency,” which essentially means it is the preferred means of transacting business across borders – a common denominator if you will. Commodities are bought and sold on the open market in dollars which means that despite higher prices for basic necessities at home, we have it relatively easy. Those living in a country like Japan are not only feeling the pinch from higher oil prices in dollars, but they also have seen the Japanese yen depreciate by a whopping 25 percent versus the dollar just this year. These types of price shifts will have far-reaching implications in the years to come.

It wasn’t always like this. I recall a few famous entertainers and supermodels requesting to be paid in euros in 2007 based on the euro’s relative strength versus the dollar. Relative strength ebbs and flows, and our current situation is merely the most recent chapter in an ongoing saga. If you are looking for a turning of the tide in the stock market, keep your eye on the relative strength of the dollar, as a sign of weakness could signal calmer seas. King Dollar, as it is sometimes referred to, rules the international finance scene with an iron fist, and any chinks in its armor can give us a breather.

David Rath, CMT, CFA, is the Chief Investment Officer at Continuum Wealth Advisors in Saratoga Springs. Continuum Wealth Advisors, LLC is a Registered Investment Advisor registered through the Securities and Exchange Commission.

For more information, visit contwealth.com.

SARATOGA – In a show of support to local business owners and non-profit organizations throughout Saratoga County, the Saratoga County Chamber of Commerce is kick-starting their “Love Our Locals” campaign for another year. What started as an effort during the COVID-19 pandemic and subsequent lockdown in 2020, the campaign (then called “Save Our Locals”) was a community driven initiative to shop local, dine local and hire local in order to support the many small businesses, artisan shops and local contractors that embody Saratoga’s business culture.  

This year, with the effects of the COVID-19 pandemic ostensibly waning, the campaign is back for another year. Only this time, it is called “Love Our Locals.” The idea is simple, patrons who spend or donate $20.22 or more to participating vendors, non-profits or service providers and share their receipt with the Saratoga County Chamber of Commerce via email (loveourlocals@saratoga.org) will be put in a running to win a $100 gift to a host of other local businesses.

 The event begins on October 21 and runs throughout the remainder of the year, ending December 31.  Winners will be selected weekly and will be announced across the Chamber’s social media channels. Winners will also be notified separately via email as to how to claim their gift card. Saratoga County businesses and non-profit organizations are encouraged to hang up a “Love Our Locals $20.22” poster in a prominent spot to remind customers, clients, and employees about how they can support the Saratoga community. For more information on how to participate or how to support the community, please email loveourlocals@saratoga.org.

WILTON — Southern Adirondack Independent Living (SAIL) relocated its Saratoga County office to 3065 NY-50, inside Wilton Mall. “Wilton Mall offers SAIL and the community we serve an accessible and innovative new location, more centrally located to the heart of Saratoga County,” said Tyler Whitney, deputy executive director of SAIL, a nonprofit organization that provides services to help people living with disabilities achieve the greatest level of independence possible. 

With offices in Saratoga, Queensbury and Plattsburgh, SAIL provides an array of services, including a free medical equipment loan program, health insurance enrollment services including Medicaid and Medicare, home assistance and help with filling out community resource applications, among others. “This new space provides a warm environment in which our staff can continue to assist our community members on their journey toward independent living,” Whitney said. “We find that repurposing a location once used for retail is a trailblazing idea that can bring new life to shopping centers.”

Founded as Glens Falls Independent Living Center in 1988, SAIL opened offices in Saratoga in 1994 and Plattsburgh in 2013. The organization was renamed in 2007 to better reflect its commitment to providing services throughout the North Country, Glens Falls and Saratoga regions. The nonprofit organization is funded through donations and grants. To support SAIL and its services, visit their website: www.sailhelps.org. 

SARATOGA — According to documents filed with the Saratoga County clerk’s office on September 27, the DelMonte Hotel Group out of Rochester has purchased the Homewood Suites by Hilton on South Broadway. The hotel, which includes over 100 rooms, is the firm’s second acquisition in the community in the past year. The property was purchased for $15.25 million.

Alex DelMonte, chief executive of the hotel group, acquired the hotel from Turf Hotels of Latham and Pioneer Cos. 

This acquisition follows the group’s previous purchase of the Hampton Inn & Suites hotel in downtown Saratoga Springs in December 2021. DelMonte bought that property from Turf Hotels and developer Frank Parillo for $28.25 million. That deal included the real estate, a two-story parking garage, the business, plus furniture and equipment. The DelMonte Group, whose portfolio includes hotels in three different states, has expanded its presence in th region over the past few years. The company now has six Marriott and Hilton properties in Albany, Troy and Saratoga Springs.