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Home My WebLink About2022-5-10 AGENDA Nantucket Land Bank Commission 1'1 Regular Meeting of May 10, 2022 " C L E Land Bank Conference Room, 22 Broad Street 2022 HAY 25 P 2: 0 7 CALL TO ORDER: 4:00 P.M. A. CONVENE IN OPEN SESSION 1. PUBLIC COMMENT/ STAFF ANNOUNCEMENTS 2. AGRICULTURAL PROPERTY MANAGEMENT a. Short-term Licenses at Mt. Vernon Farm—Discussion 3. PROPERTY MANAGEMENT a. Various Land Bank Properties—Maria Mitchell Summer Camp Request b. Cisco Beach Mobile Vendor Concessions—Hours of Operation Discussion c. 63 Madaket Road/Peter Folger Homestead—Leash Law Sign Request d. Cisco Beach(or other suitable beach)—Picnic/Pizza Party Request(6/23/22) e. Croquet Court—Request 4. TRANSFER BUSINESS a. Current"M"Exemptions b. Current"0" Exemption c. "M"Exemption Update—Release of Lien i 5. APPROVAL OF MINUTES a. Regular Meeting of April 26, 2022 6. FINANCIAL BUSINESS a. Monthly Transfer Statistics b. Warrant Authorization— Cash Disbursement c. Warrant Authorization—Refunding 2016 Semi-Annual Bond Payment d. Bond Reserve—Change in Investment Discussion B. EXECUTIVE SESSION: The Executive Session is for Purpose 6[G.L. c. 30A, 21(a)(6)J. The particular transactions and parcels of real estate are not identified since disclosure of the property information may have a detrimental impact on the Land Bank's negotiating position with one or more third parties. The Commission will not reconvene in open session at the conclusion of executive session. 1. Approval of Executive Session Minutes 2. Real Estate Acquisition C. ADJOURNMENT MINUTES Nantucket Land Bank Commission Regular Meeting of May 10, 2022 Land Bank Conference Room, 22 Broad Street Nantucket,Massachusetts CALL TO ORDER: 4:00 p.m. PRESENT: Mark Donato,Neil Paterson,Allen Reinhard, John Stackpole. ABSENT: Kristina Jelleme STAFF PRESENT: Jesse Bell, Executive Director; Eleanor Antonietti,Executive Assistant; Marian Wilson,Assistant Administrator; Rachael Freeman, Director of Environmental and Agricultural Resources. Farmer, Dean Long was also present at call to order. A. CONVENE IN OPEN SESSION: 1. PUBLIC COMMENT/ STAFF ANNOUNCEMENTS: None. 2. AGRICULTURAL PROPERTY MANAGEMENT: a. Short-term Licenses at Mt. Vernon Farm—Discussion: Ms. Freeman reviewed vacant agricultural properties and summarized potential sites for short term use. Further, she informed the Commission that although the soil is not ideal at 160 Hummock Pond Road,there may be an opportunity for short term fanning involving animal grazing or seasonal growing. She suggested placing an advertisement in the Inquirer and Mirror, seeking farmers interested in short term usage of available land for their operations through December 2022. Discussion followed and the Commission favored the idea to draft a short-term license agreement and advertise per Ms. Freeman's recommendation. Upon a motion made by Commissioner Stackpole and duly seconded by Commissioner Donato, it was unanimously VOTED to approve Ms. Freeman's proposal and draft a short-term license for agricultural use on the property at 160 Hummock Pond Road. 3. PROPERTY MANAGEMENT: a. Various Land Bank Properties - Maria Mitchell Summer Camp Request: Ms. Antonietti presented a request from the Maria Mitchell Association to visit various Land Bank properties for science-based exploration and activities throughout the summer. As with past summer,there would be approximately 10 people per group attending the Discovery camp and MMA would confirm property and activity location the week prior with Ms. Antonietti. The staff reviewed the details of the request and recommended approval for this recurring event as previously granted. Upon a motion made by Commissioner Stackpole and duly seconded by Commissioner Donato, it was unanimously VOTED to approve the MMA Discovery camp request as recommended by staff. Land Bank Commission Page 2 May 10, 2022 b. Cisco Beach Mobile Vendor Concessions—Hours of Operation Discussion: Ms. Antonietti presented a request from mobile food unit("MFU")vendor, Sushi Sean,who proposed serving food in the evening hours, closer to dinner time. Ms. Antonietti reiterated that the current license agreement permits activity for up to six hours per day without a specified time frame,potentially allowing for some flexibility as to operation hours. Discussion followed and staff recommended that the Commission allow approved MFU vendors to operate in the early evening until 7:00 p.m. on the condition that the decision may get revisited if it ended up negatively impacting the neighbors. Upon a motion made by Commissioner Stackpole and duly seconded by Commissioner Reinhard, it was unanimously VOTED to approve the request to operate mobile food unit vending in the early evening hours with staff specified conditions. c. 63 Madaket Road/Peter Folger Homestead—Leash Law Sign Request: Ms. Bell stated that she received an email from a homeowner who directly abuts the property and recently experienced an unfriendly encounter in which unleashed dogs made her feel unsafe. She asked if signs regarding the leash law could be placed in the parking lots as she also has children and livestock on her property. Ms. Bell felt it was a reasonable request given that the Land Bank surrounds this home on three sides, in addition to the high amount of dog traffic the property experiences with its proximity to NISHA and the Animal Hospital. The Commission was in favor of a sign to be designed by staff and placed in the two parking area entry points. Ms. Bell indicated she would notify the homeowner of the decision. d. Cisco Beach—Picnic/Pizza Party Request(6/23/22): Ms. Antonietti presented an event request from Caroline McDonough and Matthew Lankiewicz to host an informal beach picnic or pizza party for 65 -70 people in the evening,preferably at Cisco Beach. They plan to shuttle their guests to the beach and use disposables for easy clean up. They would be mindful of the public beach shared space and"leave no trace" after their event and are flexible on the timing of the event. Upon a motion made by Commissioner Stackpole and duly seconded by Commissioner Donato it was unanimously VOTED to approve the request at Cisco Beach on June 23, 2022, as presented by Staff. e. Croquet Court—Request: Ms. Bell reviewed an email sent by Susan O'Brien who described the merits of playing croquet. She inquired whether the Land Bank would consider installing a court on one of its properties. Ms. Bell assessed the level of interest from the Commission, and it was agreed that the idea for a croquet court should be added to the projects list for further consideration. Ms. Freeman stated that she had received an additional request about playing croquet on Land Bank properties and Ms. Bell suggested surveying the community on recreational interests for future consideration. 4. TRANSFER BUSINESS: a. April 2022 Transfers—Record Nos. 44453 through 44548: The Commission reviewed transfers for the period of April 1, 2022,through April 30, 2022. . , Land Bank Commission Page 3 May 10, 2022 1. Current"M"Exemptions and Liens: The Commission authorized the placing of liens against the following properties as a result of the purchasers claiming the "M" exemption as a first-time buyer of real property: No. 44458 Shannon M. Considine No. 44478 Jeremy Norwood No. 44543 Ruby C. Fee 2. Current"0"Exemption and Liens: The Commission authorized the placing of liens against the following properties as a result of the purchasers claiming the"0" exemption as part of a deed-restricted affordable housing program: No. 44466 Georgina E. Morley and Christopher A. Cothran No. 44489 Joseph McDonough Upon a motion made by Commissioner Reinhard and duly seconded by Commissioner Donato, it was unanimously VOTED to execute and authorize the issuance of Notices of Liens on the above- ' referenced properties. 3. "M"Exemption Update: Ia. Five-Year Domicile and Ownership Compliance—Release of Lien: Upon a motion made by Commissioner Reinhard and duly seconded by Commissioner Stackpole, it was unanimously VOTED to authorize the issuance of Release of Lien for the following transfer as a result of the purchaser fulfilling all of the requirements of Section 12, subsection(-m-): No. 13999 Kimberly Burbic and Robert Yourell 5. APPROVAL OF MINUTES: Upon a motion made by Commissioner Stackpole and duly seconded by Commissioner Donato, it was unanimously VOTED to accept, approve, and release the regular session minutes of April 26,2022, as written. 6. FINANCIAL BUSINESS: a. Monthly Transfer Statistics: Monthly transfer statistics reports comparing fiscal years 2021 and 2022 through April 2022 were presented to the Commission. . b. Warrant Authorization—Cash Disbursements: Upon a motion made by Commissioner Donato and duly seconded by Commissioner Stackpole, it was unanimously VOTED to execute the May 10, 2022,warrant document in the amount of$278,210.04 to be provided to the County Treasurer. c. Warrant Authorization—Refunding 2016 Semi-Annual Bond Payment: Upon a motion made by Commissioner Reinhard and duly seconded by Commissioner Donato, it was unanimously VOTED to approve payment and authorize staff to wire the Series A semi-annual Land Bank Commission Page 4 May 10, 2022 r-� bond payment of interest and principal in the total amount of$86,700.00 from the Land Bank's Collection Account to the Bond Trustee at U.S. Bank. d. Bond Reserve—Change in Investment Discussion: Ms. Bell presented Ms. Campese's summary of a discussion with bond counsel and investment advisors at Hilltop Securities regarding the investment of the bond reserve funds. This resulted in the recommendation to invest the funds in State and Local Government Securities for the remaining terms of the bonds. Upon a motion was made by Commissioner Stackpole and duly seconded by Commissioner Donato, it was unanimously VOTED to authorize Ms. Campese to invest the funds as recommended. Mr. Long departed the meeting 4:52 p.m. II. EXECUTIVE SESSION: A motion was made by Commissioner Stackpole and duly seconded by Commissioner Reinhard to go into executive session in order to discuss the purchase, exchange, lease or value of real property and review and approve executive session minutes. A roll call vote was taken on the motion: Mark Donato-Aye;Neil Paterson-Aye; Allen Reinhard- Aye; John Stackpole-Aye. The Chairman declared under Purpose 6 [G.L. c. 30A, 21(a)(6)] that discussion of these matters in open session may be detrimental to the Land Bank's negotiating position. The Chairman further announced that the Commission would not reconvene in regular session at the conclusion of executive session. I '— ADJOURNMENT: Upon a motion made by Commissioner Reinhard and duly seconded by Commissioner Donato, it was VOTED to adjourn at 5:48 p.m. Attested to: Mark Donato,TreaCC:4 Accepted, Approved, and Released by the VOTE of the Commission this 24th day of May 2022. AlAj 4 Neil Paterson, Chairman iMONTHLY TRANSFER`S,TiATISTICS Fige L,YEARl 2021i FY21 Total Exempt Taxable Total Gross Gross Revenue Month Transfers Transfers Transfers Value Value Taxable Received Jul-20 101 57 44 $137,529,158 $130,894,991 $2,617,900 Aug-20 104 49 55 $176,375,099 $171,288,925 $3,435,779 Sep-20 159 42 117 $363,276,137 $362,676,137 $7,253,523 Oct-20 201 68 133 $373,250,751 $367,511,350 $7,359,923 Nov-20 121 40 81 $218,588,228 $214,313,827 $4,286,277 Dec-20 256 146 110 $307,862,539 $302,257,539 $6,053,651 Jan-21 118 60 50 $108,513,635 $102,961,135 $2,069,223 Feb-21 87 48 39 $107,677,305 $99,427,305 $1,988,546 Mar-21 125 62 63 $149,643,408 $144,563,748 $2,903,275 Apr-21 154 74 80 $253,758,427 $248,349,549 $4,980,991 May-21 113 47 66 $129,395,513 $124,775,513 $2,495,510 Jun-21 111 44 67 $162,548,991 $159,052,699 $3,181,054 THRUAPR21 1,426 646 772 2,196,474,688 2,144,244,507 42,949,087 Average 138 61 75 $207,368,266 $202,339,393 $4,052,138 Low 87 40 39 $107,677,305 $99,427,305 $1,988,546 High 256 146 133 $373,250,751 $367,511,350 $7,359,923 • i I MONTHLY TRANSFEglIz TISTIC-FISCAL TrAR 2022' _ _L__ :' FY22 Total Exempt Taxable Total Gross Gross Revenue Month Transfers Transfers Transfers Value Value Taxable Received Jul-21 86 34 52 $160,463,031 $156,448,031 $3,128,961 Aug-21 94 52 42 $147,307,536 $137,682,536 $2,753,651 Sep-21 120 41 79 $279,227,463 $277,117,463 $5,542,349 Oct-21 197 56 141 $582,600,629 $579,326,185 $11,586,524 Nov-21 129 56 73 $213,581,181 $210,102,666 $4,214,053 Dec-21 177 103 74 $312,971,054 $299,536,054 $5,990,721 Jan-22 81 42 39 $111,899,100 $97,499,100` $1,950,732 Feb-22 49 30 19 $64,634,159 $62,761,659 $1,254,483 Mar-22 93 58 35 $108,126,499 $89,777,499 $1,805,550 Apr-22 91 39 52 $208,684,710 $203,890,995 $4,085,810 May-22 Jun-22 THRU APR 22 1,117 511 606 $2,189,495,362 $2,114,142,188 $42,312,834 Average 112 51 61 $218,949,536 $211,414,219 $4,231,283 Low 49 30 19 $64,634,159 $62,761,659 $1,254,483 High 197 103 141 $582,600,629 $579,326,185 $11,586,524 ',.' i MONTHLY(UNAUDITED) DOCUMENTS AND EXHIBITS Nantucket Land Bank Commission Regular Meeting of May 10, 2022 1. Aerial GIS map of farmland suitable for short term license 2. Maria Mitchell Discovery Camp Request 3. Leash Law Sign Request Email 4. Mc Donough Wedding Cisco Beach Picnic Request- 6/23/22 5. Croquet Court Request Email 6. Monthly Transfer Report—April 2022 7. Current"M"Exemptions (see transfer business for record nos.) 8. Current"0"Exemption(see transfer business for record no.) 9. "M" Release of Lien (see transfer business for record nos.) 10. Fiscal Year Transfer Statistics and Graphs—April 2022 11. Check Warrant Summary dated May 10, 2022 12. Refunding 2016 Series A Bond Warrant 13. Bond Reserve Discussion Summary Email 4 NSFER BU NantucketTRA Land Bank CommSINESSission Regular Meeting of May 10, 2022 1. April 2022 Transfers—Record Nos. 44453 through 44548 a. Current"M"Exemptions and Liens: No. 44458 Shannon M. Considine No. 44478 Jeremy Norwood No. 44543 Ruby C. Fee b. Current"O"Exemptions and Liens: No. 44466 Georgina E. Morley and Christopher A. Cothran No. 44489 Joseph McDonough 2. Transfer Update a. Release of Lien No. 13999 Kimberly Burbic and Robert Yourell