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In the News

Feb 2020

Store closings pile up: With 1,200 closures already announced, retailers face another grim year

The start of a new decade isn’t offering much hope for beleaguered retailers. Traditional chains are looking increasingly frail less than a month into 2020, with vacancies piling up and few near-term prospects for a turnaround. National chains Macy’s, J.C. Penney, Papyrus, Express and Pier 1 Imports, as well as other retailers, have collectively announced 1,218 store closures this year, according …

Feb 2020

Evans Bank sets profits record for fourth straight year

Evans Bank set a record for profits for a fourth straight year, reaching $17.9 million in 2019. The Hamburg-based bank capped the year with net income of $4.6 million in the fourth quarter, up slightly from a year earlier. Evans’ full-year profits increased 9% from 2018. “We’re encouraged by the progress we’re making in expanding …

Feb 2020

Five Star Bank parent posts record profits, eyes Buffalo growth

      Five Star Bank’s parent company posted record profits in 2019, as the bank prepares to increase its Buffalo presence. Financial Institutions, based in Warsaw, reported net income of $48.9 million, up from $39.5 million the year before. The record-setting performance was “grounded in the fundamentals of our business,” including growing its balance …

Feb 2020

Hudson Headwaters to building $10M primary care center in Glens Falls

The health center network that was founded on bringing primary care to rural areas is now expanding primary care in the city of Glens Falls. Hudson Headwaters Health Network will build a 20,000-square-foot primary care center on Larose Street, near the Larose Gardens public housing facility. The new center will be completed in about two …

Feb 2020

NY budget plan ends annual rebates for homeowners

Each of the last six years, many New York homeowners have gotten checks in the mail from Albany that may have amounted to several hundred dollars and have been a total mystery to them, like an unexpected but welcome Halloween treat. Those treats could end this year. Gov. Andrew Cuomo’s budget proposal last week didn’t …

Feb 2020

A day in Penn Yan: Photo Essay of people, places in Upstate NY village

Penn Yan is a village of about 5,000, situated on the north end of Keuka Lake, in Yates County. It was named for its early Pennsylvania and Yankee settlers. In 2018, the Village of Penn Yan was awarded a $10 million Downtown Revitalization Initiative Grant. This already charming village will see some improvements within the …

Feb 2020

State Assembly Unanimously Passes Legislation To Combat “Dark Store” Assessment Challenges

The New York State Assembly unanimously passed legislation this week that would establish clear and unambiguous guidelines for assessors to utilize when formulating assessments (A4752-C). This bill is in response to the proliferation of the use of the “dark store” strategy by businesses, particularly big box retailers in New York. The “dark store” strategy is …

Feb 2020

Nassau County to Reassess Properties Every Year

New property assessments are in the mail for Nassau County’s 1.5 million residents, and that means taxes could be going up or down. But confused residents who were just reassessed last year are asking why again, CBS2’s Carolyn Gusoff reported Wednesday. Scott Diamond answers a flood of questions on a Nassau taxpayer group page he manages. …

Feb 2020

3 crazy ways real estate could change in the next decade

Real estate is an industry that in many ways hasn’t changed too much over the past several decades. Sure, it’s much easier to research homes online, but the general fee structure and other characteristics of the industry are ripe for disruption. With that in mind, although nobody can see the future, it’s fun to think …

Feb 2020

Moreau prepares for surgery of Route 9 buyers

In anticipation of a surge in commercial land purchases on Route 9, the Town Board will pay GAR Associates $70,000 for help with commercial valuation. The company will assist in determining the correct values for land that is suddenly worth much more because of the sewer. Work to build the sewer begins this year, but …