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A Roundup of Recent Ulster County Business-Related News, Views, and More


July 31st, 2024

At a time when local housing prices, for rents or to buy, are rising astronomically, you might think there would be more local appetite for housing construction. But unfortunately a false choice narrative between new housing and the environment is injected into local communities, increasingly by anonymous interests whose objectives are unknown. This narrative pits environmentalists and never-builders against local boards and task forces who clearly see a crises-level demand for housing of all types, and hurting those who can least afford it.


In our July Ulster Strong newsletter, you will notice much of our coverage is about housing. This is no surprise given our situation with the slow-walking of new construction, rampant opposition to development, and disingenuous PR campaigns by 'concerned citizens' groups whose positions disregard the hardships of locals. Our organization recognizes the need for thoughtful care to our natural assets, for now and future generations. But 'just saying no' is not a solution, but an avoidance of necessary choices.


We know it's been hot this summer, and we know we're not helping matters by getting into the weeds on housing, the most fraught topic in Ulster today (besides perhaps Kingston's Pike Plan). But, if housing is not addressed soon by Ulster and its towns, our local economy will quickly bifurcate into a Hampton-esque nightmare.


On a happier note, have a most enjoyable rest of the summer!



This newsletter includes the following:


  • Woodstock Housing Task Force Seeks Way Forward


  • Woodstock Land Conservancy Initiates Lawfare Campaign Against Zena Homes Project


  • New Paltz planning board values grass spot over new housing


  • Pattern For Progress Releases New Housing Report:

Out of Reach 2024


  • Saugerties Town Board nixes joining state housing initiative


  • Suburban Communities Are At A Breaking Point: “Press Conference Fear” Hides Underlying Causes Of Housing Crisis


  • Staggering Increase in Ulster County’s Home Values


  • Data Bites


  • More than one-fifth of Ulster’s bridges in poor condition


  • Buttermilk Farms Expansion Plans Before Planning Board

Arcp Fiber gets OK to install lines in town of Ulster

  • Plattekill Comprehensive Planning Committee To Host Public Workshop August 14th


  • Transitioning Job Seekers into Long-term Job Keepers


  • New Paltz abandons solar array planned to provide enough power for 1/3 of town at former landfill - due to some trees


  • One of the longest running businesses in Ulster County -

Ulster Savings


  • Jim Ferraro Honored




Woodstock Housing Task Force Seeks Way Forward

by Bond Brungard

WOODSTOCK – It’s been about nine months since a task force presented amendments to the town’s zoning code to make it easier for people to afford to live here. There have been other public hearings, but the wait goes on the proposed changes to the zoning code that include more density.


“That proposal has still not passed. The town board is still considering it and hopefully they will pass it soon,” said Jeff Collins, Ulster County Legislator representing Woodstock and West Hurley. He was once a member of the Woodstock task force that has sought changes in the zoning code for more affordable housing.


Hippie nostalgia drives the town’s tourist industry, and that’s evident driving through hamlet of the same name.  And traffic slows when pedestrians, crossing the main thoroughfare, seek a bite to eat or hoping to buy a trinket, book or anything with the name Woodstock on it or related to it. Many of those working in these stores earn service industry wages, which are not enough to live in Woodstock.


“For the economy in Woodstock, we need people who work here be able to live here” Collins said. “They had to close down businesses (here) because they couldn’t find employees who could get to work reliably because many didn’t have access to cars or transportation,” he said. “If you can’t hire people, you can’t stay open.”


Collins said much of the town’s zoning code was created in the 1980s when it was made more exclusive, and less favorable for certain types of development.

“We need more inclusive zoning that would allow us to have more affordable housing,” he said, “and to allow us to have people who can afford to live in Woodstock.”


The non-profit Woodstock Housing Alliance is also involved trying to solve these types of problems by enlisting various non-profit organizations. But one of the ways to keep Woodstock’s aesthetic charm and allow for more inclusive housing is to be more creative with construction.  The proposed zoning changes allows for the ability to build quads, four units of more inclusive housing, that’s similar to houses or buildings inhabited by fewer people. “If you can build a quad, it must look like it fits in the area,” Collins said. “It looks similar to that million-dollar house. You don’t lose the aesthetics of the town. But it becomes more inclusive.”


Zoning proposals were put together in a document totaling more than 300 pages, and a sizable portion is dedicated to housing. Accessory Dwelling Units (ADU) are being zoned into many communities, and it is something the City of Kingston has promoted in a way for property owners to earn some extra income, or provide a separate living space for an elderly family member.


The proposed changes to the Woodstock zoning code include the accommodation of two ADUs on a single part, with one attached to the main residence or with one detached. Or a parcel could have two detached ADUs from the main residence and no attached unit. And no ADUs may be attached to a quad unit as mentioned by Collins above or to a three-unit complex, which is also recommended as part of the proposed changes. ADUs and short-term rentals in multi-family complexes would also not be allowed.


The proposed changes also address tiny houses. Tiny houses can be used as a detached ADU and can be located in a zoning district that allows for single-family homes provided the parcels meet the setback, density, and other requirements in the zoning law.


Clustered lot developments are also addressed in the proposed changes, and this would allow for up to 40 dwelling units with one or more housing types to include tiny houses, single-family, two-family, complexes with three and four units and multi-family units.


Woodstock Land Conservancy Initiates Lawfare Campaign Against Zena Homes Project

(by Daily Freeman)

The Woodstock Land Conservancy is seeking to prevent the Woodstock Planning Board from reviewing part of the Zena Homes project, aiming to stop the housing development in the town of Ulster from moving forward.


An application filed on July 23 with the Woodstock Zoning Board of Appeals argues that the project would be a “detriment to the health, safety and welfare of the community.”.....


Officials in both towns say that Eastwoods Drive, a private unimproved road, and its proposed extension, should meet standards for traffic from a project that proposes 30 lots which could have up to 52 residential units.


Conservancy members contend that planning approval cannot be given for changes to the road because it is located in Woodstock but the project is in Ulster. It then goes on to say that Ulster town officials do not have jurisdiction over the access road because it is in Woodstock.


******************************


A common legat tactic, in this case by the Woodstock Land Conservancy (WLC), who apparently cannot see the forest through the trees. They are so focused on the trees, they ignore the local housing crises. Their game is to wear down the developer with frivolous lawsuits, like this one announced in order to draw out the process until the developer tires - an endurance test that needlessly raises costs to build (which you and I end up paying for), and delays adding new, badly needed housing stock in the county. In this case, the WLC hired a well-known attorney who often works with local anti-development and activist organizations, as well as Neil Bender, billionaire real estate owner and opponent of developments, like the Kingstonian, that are not his own.


Ulster Strong asks local planning boards, ZBAs and town officials to not fall for this strategy, and see it for what it is - lawfare. The Zena project proposed is to be highly 'green' in construction, set aside huge tracks of wooded area for no development, and will include affordable housing.

read entire article

New Paltz planning board values grass spot over new housing

(By HV1)

New Paltz Village could get 4 new apartments quickly added with an existing building's partial conversion. But it's being held up due to the planning board's refusal to approve the project over the developer's reasonable plan to replace a small grassy spot beside the building with a small 5 car lot for seniors and others with mobility issues. The developer offered to replace the green spot with a larger one across the street. But the Village PB still opposes this project because....it wants its grass.


The redevelopment of the former New Paltz Savings Bank in the Village of New Paltz is moving forward, though moving forward through the parking lot still has the potential for headaches. 



The building at 27-29 Main Street most recently held a Wells Fargo branch, but that was shuttered several years ago; the bank has maintained ATM service in the building ever since. The property was purchased by Wells Fargo NP LLC, with a primary John Joseph, owner of Warwick-based Southern Realty & Development in late 2021.

27 Main Street is the home of In Good Taste, a wine and liquor store, and that will not change. 5,978-square-feet of the vacant bank would be converted into an Anytime Fitness gym, with a variance necessary due to village code requiring that no individual retail use be greater than 3,000-square feet. Plans initially included space for two two-bedroom apartments, and one studio apartment; a third two-bedroom apartment has since been added to the proposal. Wells Fargo would continue to operate its ATM services.....


But planning board members have expressed concern about Wells Fargo NP LLC’s plans for the parking areas since a meeting in mid-May. While developers found that their parking plans worked within the standards for the Gateway District, board members objected to paving over grass on the east side of the property for the sake of parking spaces. Those concerns remained during the latest meeting, held on Tuesday, July 2. 

“It’s a huge expanse of asphalt right in the middle of the village, and it absorbs 90 percent of the sun’s heat and it retains the heat at night,” said board member Rachel Lagodka. “And I think it would be a big loss. You’re walking down the street, it’s sort of the only green space on that side of the road, on that side of (Route) 299.”

read further

Pattern For Progress Releases New Housing Report:

Out of Reach 2024


A new report released by Hudson Valley Pattern for Progress found that housing costs continue to surge throughout the Hudson Valley as wages remain (for many) stagnant, putting an increased financial strain on struggling residents.


Pattern examined data from Columbia, Dutchess, Greene, Orange, Putnam, Rockland, Sullivan, Ulster, and Westchester counties.


“The struggle to create housing that is affordable for people across the entire spectrum of income will be the defining civic issue for this generation of leaders in the Hudson Valley,” Pattern CEO Adam Bosch said. “There is ample evidence that the housing crisis is exacerbating our regional workforce shortage, as more people pack up and leave the Hudson Valley in search of a more affordable standard of living elsewhere. We cannot look away from this challenge. To preserve our wellbeing and quality of life, the Hudson Valley must allow and encourage more housing, rather than opposing and protesting it.”


read further

Saugerties Town Board nixes joining state housing initiative

(HV1)

There has been little visible concerted effort at the local levels to promote this very important NYS program and explain its value to local citizens. Housing is at a crises level, yet too many of our citizens are unconvinced of this, and continue to oppose virtually all housing proposals due to either NIMBYism or misinformation. There is little sense of understanding that we are all in this together. Unaffordable housing impacts our entire community. Saugerties' failed attempt to pass a simple pledge that would have permitted the town to receive state funding for new affordable housing suggests far more needs to be done to sell this program locally.


During the Saugerties Town Board meeting on July 10, supervisor Fred Costello explained that participation in the New York State Pro-Housing Community Program is becoming a requirement for grants to help public housing, infrastructure and a variety of public works grants. But after lengthy criticism from local speakers and one town councilman, the board voted against participation.

Answering many vocal critics of the program, many of whom have spoken against a proposed housing complex sponsored by the Dominican Sisters of Sparkill, Costello said the program is not designed to bypass the planning and zoning board reviews of proposed projects....


"The final vote was 3-1, with Costello voting in favor, Horton, Nau and Ivino voting against and Leeanne Thornton absent.


Prior to the board’s discussion nearly 25 community members spoke against the board making a decision at the meeting, while a few urged the board to adopt it, based on the need for affordable housing in Saugerties."


read further

Suburban Communities Are At A Breaking Point: “Press Conference Fear” Hides Underlying Causes Of Housing Crisis


Opinion By: Paul Adler

(From the Rockland County Business Journal)

The suburban dream is at risk, facing an existential threat from a deeply rooted and often overlooked issue: NIMBYism (Not in My Backyard) perpetuated not by ‘the neighbors’ but by elected leaders at the village, town and county levels.


Resistance to development is not only stifling growth but undermining the viability and sustainability of suburban communities. The solution lies in embracing the following: Form-Based Zoning, implementing term limits for planning and zoning boards, and developing a comprehensive housing plan that addresses diverse needs throughout the county.

NIMBYism and Its Impact


NIMBYism is a powerful force in local governance, particularly in suburban areas where residents and leaders alike often resist changes that could alter the character of their communities. Elected officials, seeking to appease vocal constituents, frequently uphold restrictive zoning laws that favor single-family residences over more diverse housing options. This resistance has resulted in a lack of affordable housing, limited options for young families, 1st responders, seniors, and workers. This kind of stunted growth stymies local economies.


The Press Conference of Fear

Local leaders often use press conferences and public statements to instill fear about new developments, suggesting they will lead to overcrowding, increased crime, or a decline in property values. Further, they applaud themselves for cracking down on “slumlords” and overcrowding, without addressing the underlying ills. This scare tactic is designed to maintain the status quo and protect the single-family residential paradigm. Such enforcement measures wouldn’t be necessary if there were an appropriate housing plan in place—one that acknowledges the multifaceted needs of the community. Fear equals votes!


The Need for a Comprehensive Housing Plan

A viable and sustainable suburban lifestyle requires a housing strategy that goes beyond single-family homes. We need to understand and plan for:

Starter Homes: Affordable entry-level homes for young families and first-time buyers.

Affordable Rental Stock: Accessible rental options for lower-income individuals and families. The folks who work in hospitality, landscaping, construction, hospitals, non-profits, etc.


Multi-generational Housing: Homes designed to accommodate extended families, promoting cohesion and support. It’s a truly sustainable way to grow community.

Workforce Housing: Affordable options for local workers, ensuring that those who serve the community can also live in it. Commercial development follows residential growth.

Housing for First Responders: Prioritized housing for those who protect and serve the community, ensuring quick response times and assisting those who have a stake in their communities.


Special Needs Housing: Accessible housing for individuals with disabilities, providing independence and quality of life.


Transitional Housing for the Homeless: Temporary housing solutions to help the homeless transition into permanent residences. A place for rehabilitation, job and life skills training. Helping folks get out of poverty and reintegrate into the community.


Senior Housing: Affordable and accessible options for aging residents, allowing them to remain in their communities near shopping and transportation, which in turn, enables them to live and work in the community they helped to build.


Embracing Form-Based Zoning

Form-Based Zoning (FBZ) offers a dynamic and flexible alternative to traditional zoning laws. FBZ focuses on the physical form of the built environment rather than the separation of uses, allowing for a mix of housing types and encouraging walkable, vibrant communities. This approach can adapt to changing needs and preferences, ensuring that suburban areas remain livable and attractive over time.


Term Limits for Fresh Perspectives

To combat entrenched NIMBYism, we need term limits for members of planning, zoning, and architectural boards. Fresh thoughts and new perspectives are crucial for innovative and forward-thinking urban planning. Term limits would prevent stagnation and encourage a continual influx of new ideas, helping communities to evolve and thrive.



The housing crisis in suburban areas is a complex issue exacerbated by NIMBYism and outdated zoning practices. By adopting Form-Based Zoning, implementing term limits for planning boards, and creating a comprehensive housing plan that addresses the diverse needs of the community, we can pave the way for a sustainable and inclusive suburban future. It’s time to move beyond fear and embrace change, ensuring that our suburban communities remain vibrant and livable for generations to come.


Paul Adler is Chief Strategy Officer of Rand Commercial. paul.adler@randcommercial.com


Rockland Business Journal


Staggering Increase in Ulster County’s Home Values


Ulster County Home Prices

Up 25.5% in 12 months!

(101.5 WPDH)

The local real estate market has been a hot button issue for years in the Hudson Valley, but one county has just emerged head and shoulders above the rest in terms of home price increases.


Our cluster of counties just north of New York City have been consistently rising in popularity, and home prices have been along for the ride. While prices seemed to have leveled out last year, a new uptick has sent the real estate market in one Hudson Valley county into the stratosphere.


According to real estate company Redfin, Ulster County, NY has seen a staggering 25.5% increase in median home prices since 2023, with a rise from roughly $350,000 in May of 2023 to almost $450,000 in May 2024. There's at least one theory as to why Ulster County was so dramatically different.


Recently, the Town of Ulster's clerks office reported a record-breaking amount of marriage license applications. Town clerk Suzanne Reavy shared that the increase mirrored a rising interest in Ulster County from non-residents as a perfect destination to tie the knot. Combined with the steep increase in home prices, Ulster County may be emerging as the prime Hudson Valley destination for tourism.


There are other signs, too. Ulster County has seen a rise in luxury Airbnb rentals, and the county continues to be a favorite location for Hollywood stars as well.




read further

DATA BITES

Cost to Build a Home In NYS

New York is the 6th most expensive state to build a home currently, and compared to buying a home, building new homes is much more expensive,


Source: https://todayshomeowner.com/home-finances/guides/cost-of-building-a-home-by-state/


Advantages of Building a Home

  • Customization: Do you have a dream kitchen or bathroom in mind? Being able to fully customize and design your home to your liking is one of the biggest appeals to building your own home.
  • No Competition: You won’t have to worry about being caught in a bidding war with other homebuyers if you buy land to build your home.
  • Less Maintenance: A newer home usually means less upkeep and maintenance costs. All your products and appliances will be new and often protected under warranty. Plus, you’ll have less chance of being surprised with a big homeowner headache, like a burst water tank.
  • Energy Efficiency: Most new homes are built with energy efficiency in mind, leading to more significant cost savings over time.

Disadvantages of Building a Home

  • Significant Time and Effort: Building a home is no easy feat. A custom home can take anywhere from six months to two years to complete. There are always chances for delays from supply chain issues, weather, labor shortages, building permit hold-ups, or other unforeseen problems.
  • Financing Complications: Land and construction loans are often more challenging to secure than home loans because of a lack of collateral. That means higher payments and interest rates to offset the risk to the lender.
  • Securing Building Permits: The permitting process may delay your construction, and it can be downright stressful. You’ll have to obtain several permits and approvals and ensure your home abides by all local regulations. The process involves a lot of paperwork, waiting on inspectors, and sometimes a trip to the city council to fight for your dream home.


Overall Wages Rise Locally

Overall wages in the Kingston Metropolitan Statistical Area (MSA) have increased 27% over a 5 year period from 2019-2023. This trend has apparently continued, if not accelerated this past year.

NOTE: this may not be reflective of changes within different segments (e.g. those in lower wage industries may not have seen the same rise in wages as those in higher paying jobs)


Source: https://dol.ny.gov/quarterly-census-employment-and-wages


More than one-fifth of Ulster’s bridges in poor condition

(Daily Freeman)


Infrastructure is critical to all of us. Ulster is going to need to repair or replace many, and soon. Is this an opportunity to BUILD SUSTAINABLY?


More than one-fifth of 391 bridges in Ulster County were listed as in poor shape in 2023, according to a report released Thursday by the state Comptroller’s Office.


According to the report, “The Condition of Locally Owned Bridges in New York State, An Infrastructure Update,” 81 of the 391 bridges, or 20.7%, were considered by the Federal Highway Administration to be in poor condition that year.



Of those, 63 of the more than 150 bridges owned by the county were considered to be in poor shape, the most in any county in the state, according to the report.


read full article

Buttermilk Farms Expansion Plans Before Planning Board

(Southern Ulster Times)


The owners of Buttermilk Farms have unveiled an ambitious expansion plan that would, if okayed by the town, be completed in stages. The popular bed-and-breakfast inn would be expanded to include a new 65-room hotel facility, 35 guest cabins, a 60-seat restaurant, and a 300-seat banquet facility. As part of that, the owners’ plans have been scrutinized by Poughkeepsie engineering firm Creighton Manning for their impact on local infrastructure and the environment.

read further

Archtop Fiber gets OK to install lines in town of Ulster

(By Daily Freeman)


Even the well-known business-hostile DF reporter had a hard time finding 'fault' with Archtop Fiber (but not for a lack of trying....!). Way to go Archtop on your commitment to our communities and addressing any concerns!


"Archtop Fiber has gotten authorization to begin work on 337 streets as part of its planned installation of fiber optic cable between U.S. Route 209 and Old Stage Road.


The Town Board approved the plan during its meeting last week after being assured by a company representative that efforts will be made to avoid conflicts with existing infrastructure."


read further

Plattekill Comprehensive Planning Committee To Host Public Workshop August 14th

(By Southern Ulster Times)


The committee will hold its first public workshop next month where residents will be able to share their feedback on the plan’s first draft.

“The main goal is to get as many people to come as possible and share their opinions or their feedback on the projects we are proposing for the town, whether they support them or don’t support them,” said Dan Theobald, a project community planner. “Another part of it is if they have any projects that we are not addressing or initiatives that we don’t mention in the plan and make sure that we do get those.”


During the meeting, the committee outlined four different pillars of development — economic development, hamlets, infrastructure and community character — and the objectives and actions that pertained to each. One of their goals for economic development is to expand housing options to better accommodate a more diverse population like professionals, families and seniors. They also intend to support the growth of new and local businesses by “providing incentives, technical assistance and infrastructure improvements.”.....


The public workshop — which will contain an online option for those who may be unable to attend in person and likely be at the Plattekill Fire Hall — will be held on August 14. They plan to have a draft plan review in September, their committee meeting and first public hearing in October and the second public hearing and adoption by around November and December. This timeline is still subject to change.


read further

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Transitioning Job Seekers into Long-term Job Keepers


By Alex Robinson, Insperity


Ulster County businesses are searching for the ideal job candidate to fill open positions. In this tight labor market, properly onboarding new hires requires a lot of hard work and resources. The biggest challenge area business owners face is turning new hires into long-term employees. Strategically approaching the hiring, onboarding, and employee management processes can turn job seekers into job keepers.

 

Ace Onboarding

Making a good first impression does not stop after the candidate accepts the job offer. Your business should strive to make a good impression during onboarding. Establishing a structured onboarding process elevates the new employee’s experience. While onboarding, introduce the company culture, team members and job responsibilities. Showing you’re prepared for the employee with a structured onboarding process welcomes them into the organization with support from day one.

 

Establish Career Paths

New employees want to plant roots within your organization, so establishing and communicating advancement opportunities within the organization can attract top-notch talent. Communicating how the opportunities are achieved is just as important. Ensuring open conversations between managers and employees, as well as regular performance reviews and training opportunities, will help employees entrench themselves in your culture.  

 

Compete with Compensation and Benefits

Not every small business in Ulster County can meet the salaries and benefits larger corporations offer, but they should be competitive. Analyzing compensation and benefits is essential and establishing how you can position your business as a more attractive option. Your small business may offer more hands-on experience for the employees, more direct access to leadership and the potential to influence significant business decisions from day one. These opportunities to make an impact can supersede salary and be a great retention tool.

 

Encourage Work-Life Balance

Small businesses are typically more flexible with in-office work structures and schedules so employees can better manage work and life. Establishing a culture that takes care of your people and modeling the behavior, such as not checking in during your vacation and using wellness benefits, helps encourage work-life balance and strengthens your retention efforts.

 

It does take time and effort to transition a job seeker into a job keeper, but it is worth the investment. Fine-tuning your retention efforts builds more substantial teams, makes long-term employees commonplace, and saves recruiting and onboarding costs. Focusing your efforts on retaining a strong team will lead to further business success for you and Ulster County.

 

Alex Robinson is a business performance advisor with Insperity, a leading provider of human resources and business performance solutions. For more information about Insperity, visit www.insperity.com or contact Alex directly at alex.robinson@insperity.com or 917-548-1357.     


New Paltz abandons solar array planned to provide enough power for 1/3 of town at former landfill - due to some trees

(Times Union)

The death-by-a-thousand cuts that effectively sank the project included high upfront costs for connecting to the grid and pushback about clear-cutting trees on town property. Janelle Peotter, former chair of the Climate Smart Task Force, who worked on the solar committee for over five years, said that the initial project faltered when locals grew concerned that “not an insignificant number of trees would have to be cut down.”



Peotter said it would’ve only taken 2½ years for that carbon impact to be made up by reduced emissions, “but the project became unpalatable to enough people that it risked losing any solar development on the landfill at all.”


read further

One of the longest running businesses in Ulster County -

Ulster Savings


Necessity, the time-honored mother of invention, created the need for a safe, communal place for the deposit and growth of money. Several men, of proven integrity and reputation, put up their own capital with no expectation of profit to themselves, to form a bank to serve their community. This is considered by some to be the ultimate form of philanthropy and shaped Ulster Savings Bank’s foundation.  The Bank was officially state chartered on April 12, 1851.


Today this 173 - year community bank stands strong among ever increasing competition from local, regional, national and online sources. Having survived the test of time, Ulster Savings has navigated through wars, depressions, recessions, pandemics and more.


Ulster Savings is structured as a mutual savings bank. They have no stock-holders. Their focus isn’t affected by their stock price. Instead, their undivided attention is always to their stakeholders-which are the customers and communities they serve. 


How does this business benefit Ulster County?


Ulster Savings Bank is uniquely positioned to help foster economic growth. Whether by donating millions of dollars over the years helping hundreds of non-profits through their giving program and charitable foundation, by volunteering thousands of hours to community events, by being involved on local boards or committees, or by offering products and services to help an individual or business prosper, it’s all about helping community prosper at this bank.


Ulster Savings is proud to offer a wide variety of services. Banking, Insurance, Tax Preparation, Wealth Management, Merchant Services, Remote Deposit, Sweep Services and more. Best of all, when you choose local, your dollars stay here at home, reinvested back into the economy.  


Many of the Ulster Savings team serve on local boards and that allows them to really understand the local market conditions and changing challenges being faced by so many today. That insight equates to solid local decision making and a relationship that lasts far beyond after a loan is closed or a deposit account opened.


Relationship banking means understanding what truly matters and having the customer’s back. Whether it’s providing quick financing, looking out for and preventing potential fraud on a customer account, providing added value with industry trend reports and analysis, keeping them informed on cyber threats or offering customized financial education classes for their employees, Ulster Savings provides much more than just banking to its clients.


Ulster Savings is also the home of many local networking and community events. Whether it’s to host a Business Awards event, free document shredding event, a business mixer, a place to display an artist’s work or provide space for a non-profit organization to meet, Ulster Savings encourages community collaboration.


Affordable housing is a defining issue of our time and affects business and community. So, what is Ulster Savings Bank doing to help?


Ulster Savings Bank provides the tools to help a person be in a better financial position. They utilize a multi-faceted approach that involves providing education through homebuyer seminars, finding and obtaining potential grants, and working with non-profit organizations. The goal is to find and deliver financing that fits a potential homebuyer’s situation best and often that involves being creative in overcoming obstacles. 


From January 2023 to the present, almost $2 million in grant monies were accessed and made available to supplement financing for borrowers. Working with non-profit agencies such as the Federal Home Loan Bank Homebuyer Dream program, SONYMA, RUPCO, Kingston City Land Bank, Hudson River Housing, Housing Trust Fund Corp., Habitat for Humanity, Pathstone, Newburgh City Land Bank, and more, it helps to close the deal on homeownership in a challenging time.


Ulster Savings Bank’s overall impact with housing was in providing 950 loans or $220 million dollars in financing to help home ownership happen in the Hudson Valley. That’s good for both business and growing our economy. That’s Ulster Strong and beyond!


For more information >>>

Jim Ferraro Honored

Industry partnerships are essential to Ulster BOCES commitment to get our students.

Jim Ferraro was honored as Hudson Valley Pathways Academy's (HVPA) 2024 Partner of the Year at the Completion Celebration event held at Selux Corporation.


Ferraro has been with HVPA industry partner Elna Magnetics since 2010, serving various roles; currently overseeing part of production operation, warehousing, and administrative responsibilities. This year, Mr. Ferraro has chaired the HVPA steering committee. His fervent support and advocacy continue to make a significant impact not only on the HVPA community but on the entire county. Kudos and gratitude!


Ulster Strong is a non-profit advocating a pro-growth agenda that balances good jobs and investment opportunities with the environment and sustainability.


ULSTER STRONG SUPPORTS


Adding good-paying jobs;

Diversifying the local economy so it’s more resilient;

Encouraging new investment;

Balancing the environment with local economic needs;

Growing local tax base to support community services including schools, infrastructure and emergency services;

Updating planning and development procedures to be more

transparent and timely.



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