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Home My WebLink About2022-4-26 AGENDA • Nantucket Land Bank Commission • Regular Meeting of April 26, 2022 Land Bank Conference Room, 22 Broad Street 2022 MAY 12 All 9: 0[ CALL TO ORDER: 4:00 P.M. A. CONVENE IN OPEN SESSION 1. PUBLIC COMMENT/ STAFF ANNOUNCEMENTS 2. GOLF BUSINESS a. Sconset Golf Course—Manager's Monthly Review b. Miacomet Golf Course—Manager's Monthly Review c. Warrant Authorization—Golf Capital Funds Transfer Request d. Golf Capital Committee-Recommendations 3. PROPERTY MANAGEMENT a. 113 Madaket Road—Surplus Housing Award b. 141 Eel Point Road—Trail Proposal c. Sconset Collaborative Trail System—Expansion Proposal d. 19 E. Creek Road—Design Services Proposal e. 48 S. Cambridge Street/Lang Pond Landing—Accessible Walkway and Pier Contract Award 4. TRANSFER BUSINESS a. "M"Exemption Update—Release of Liens 5. APPROVAL OF MINUTES a. Regular Meeting of April 12, 2022 6. FINANCIAL BUSINESS a. Monthly Financial Report—March b. Warrant Authorization—Cash Disbursement B. EXECUTIVE SESSION: The Executive Session is for Purpose 6[G.L. c. 30A, 21(a)(6)]. 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 April 26, 2022 Land Bank Conference Room, 22 Broad Street Nantucket, Massachusetts CALL TO ORDER: 4:00 p.m. PRESENT: Mark Donato, Kristina Jelleme,Neil Paterson, Allen Reinhard, John Stackpole. STAFF PRESENT: Jesse Bell,Executive Director; Susan Campese, Administrator/Finance Manager; Marian Wilson, Assistant Administrator; Rachael Freeman, Environmental and Agricultural Coordinator. Miacomet Golf Course ("MGC") and Sconset Golf Course ("SGC") General Manager, Sean Oberly;NGM, Inc., President, Matthew Galvin;Nantucket Current Editor in Chief Jason Graziadei were also present at call to order. I. CONVENE IN OPEN SESSION: A. CITIZEN BUSINESS/ANNOUNCEMENTS: Ms. Bell reported that the Land Bank staff along with volunteers and the Nantucket Fire Department had conducted a prescribed burn on 25 acres at Head of the Plains today. E f Nantucket Inquirer and Mirror reporter, Dean Geddes entered the meeting at 4:04 p.m. B. GOLF BUSINESS: 1. Sconset Golf Course("SGC")—Manager's Monthly Review: The Commission reviewed the balance sheet and profit and loss comparisons for March 2022 sent in a meeting packet prior to the meeting. Mr. Oberly stated there was little to report since the course was closed for the season. Commissioner Jelleme asked about the electrical use. Mr. Oberly stated that they had kept the electric heat on this winter and the bills were higher than expected. He said he would probably winterize the building next year to avoid the high heating bills. 2. Miacomet Golf Course ("MGC")—Manager's Monthly Review: The Commission reviewed the profit and loss summary for March 2022. Mr. Oberly attributed the significant increase in year-to-date rounds to better counting procedures. He explained that everyone had to check in with the golf shop and start on the first tee. This has been a welcome change by the golfers. The covers, revenue, and restaurant payroll for the back of the house were also higher than budgeted. Mr. Galvin said the higher payroll figures were in line with the revenue figures. Mr. Galvin reported they were still short staffed. He was trying to recruit workers from off-season markets. Overall,the net income was 20% over the projected budget. 3. Warrant Authorization—Golf Capital Funds Transfer Request: Upon a motion made by Commissioner Stackpole and duly seconded by Commissioner Reinhard, it was Land Bank Commission Page 2 . April26,2022 unanimously VOTED to execute the April 26, 2022, warrant document in the amount of$42,602.84 to be provided to Nantucket Golf Management, Inc. from the Golf Capital Reserve account. • 4. Golf Capital Committee—Recommendations: Chairman Paterson reviewed the Golf Capital Committee recommendations for MGC and SGC from the April 25th meeting with approximate pricing. Mr. Galvin noted that some of the prices received are subject to change as he was still seeking estimates through the state contract and Mass Golf which expected would provide some additional cost savings. 1)MGC—New irrigation pump $ 25,000.00 2) MGC—Lighting for parking lot with dimmers $ 15,000.00 3)MGC—Glass washer for bar $ 8,000.00 4)MGC—Water bottle filling station installation costs $ 4,000.00 5) SGC—Lighting for flagpole $ 1,000.00 6)MGC—Upgrade to irrigation system(replace heads/software) $423,000.00 7)MGC—Toro four-year lease with$1 buyout $215,000.00 8) SGC—Sprayer $ 72,000.00 Mr. Oberly noted that the Toro leased equipment needed to be ordered a year in advance,however the pricing was subject to change as Toro would not honor the price given prior to delivery of equipment. Further,the price could be lower as result of equipment trade-ins with Toro and for the SGC sprayer. Upon a motion made by Commissioner Stackpole and duly seconded by Commissioner Reinhard, it was unanimously VOTED to approve the capital items as recommended by the Golf Capital Committee. Mr. Oberly and Mr. Galvin departed the meeting at 4:20 p.m. C. PROPERTY MANAGEMENT: 1. 113 Madaket Road—Surplus Housing Award: Ms. Bell said three proposals were submitted, one for the main house, one for the cottage, and one for both. All applicants were island business owners who would move the houses to their lots for employee housing. The Commission agreed that the proposal from Fred Bisaillon and Denise Corson for the main house, which included set dates with the contractors and a schedule of values,was the most comprehensive. The application from Jessica Torre for the guest house and Darya Gault for both houses were similar, however Ms. Gault had significantly more employees to house. After some discussion upon a motion made by Commissioner Donato and duly seconded by Commissioner Stackpole, it was unanimously VOTED to award the main house to Fred Bisaillon and Denise Courson and to award the cottage to Darya Gault. 2. 141 Eel Point Road—Trail Proposal: Ms. Bell presented a proposed trail that started across from the entrance to 40th Pole and meandered through the 13.46-acre property. This allowed people to avoid a portion of Eel Point Road that was difficult to navigate due to puddles. • Ms. Bell said she hoped to connect with the Linda Loring Nature Foundation trails in the future. The only permit required was from Natural Heritage. Upon a motion made by Commissioner Land Bank Commission Page 3 April 26, 2022 • Reinhard and duly seconded by Commissioner Stackpole, it was unanimously VOTED to authorize staff to permit and install the trail as proposed. 3. Sconset Collaborative Trail System—Expansion Proposal: Ms. Freeman presented the expanded trail system and explained that it had taken some time to get all parties to approve. The trail crossed Land Bank, Town of Nantucket, Sconset Trust, and Nantucket Conservation Foundation properties. Ms. Bell said the Town wanted a simple license that stated that the Land Bank would permit, install, and maintain the portion that crossed Town land. Commissioner Donato said he was concerned that the only parking was at Ruddick Commons which would require people to cross Milestone Road. He asked Ms. Freeman to look into some parking on the south side of Milestone or at a minimum install bike racks. Upon a motion made by Commissioner Reinhard and duly seconded by Commissioner Donato, it was unanimously VOTED to approve the permitting and installation of the proposed trail expansion with staff reporting back about parking alternatives. 4. 19 E. Creek Road—Design Services Proposal: Ms. Freeman presented a proposal from Scape Landscape Architecture DPC for$70,000 for concept designs for the property, including a viewing platform, accessible dock,and potential connections to Our Island Home property. The plans would consider the connectivity with Consue Springs and 158 Orange Street. Commissioner Jelleme said she thought the price was high, but if the staff was confident the value would be received, she could support it. Ms. Freeman pointed out that project administration was included in the price which assisted staff in the organization and distribution of tasks and keeping ' E the project moving forward at a steady pace. Upon a motion made by Commissioner Jelleme and duly seconded by Commissioner Stackpole, it was unanimously VOTED to approve the proposal for design services. Mr. Graziadei departed the meeting at 4:45 p.m. 5. 48 S. Cambridge Street/Long Pond Landing—Accessible Walkway and Pier Contract Award: Ms. Bell presented the following three bids received for the walkway and pier construction at 48 S. Cambridge Street: Manafort Transit,LLC $1,467,000.00 Robert B. Our Co, Inc. $ 744,110.08 ACKMarine and General Contracting $ 794,000.00 Upon a motion made by Commissioner Reinhard and duly seconded by Commissioner Stackpole, it was unanimously VOTED to award the work to the lowest responsible and eligible bidder, Robert B. Our Co, Inc., and to authorize Ms. Bell to execute the contract on the Commission's behalf. D. TRANSFER BUSINESS: 1. "M"Exemption Update: a. Five-Year Domicile and Ownership Compliance—Release of Liens: Upon a Land Bank Commission Page 4 April 26, 2022 motion made by Commissioner Reinhard and duly seconded by Commissioner Jelleme, it was unanimously VOTED to authorize the issuance of Releases of Liens for the following transfers as a result of the purchasers fulfilling the requirements of Section 12, subsection(-m-): No. 19896 W.C. Dwyer Maloney and Paula Maloney No. 38409 Joseph Ranstatler and Kelly Ranstatler No. 38421 Georgi Dimov E. APPROVAL OF MINUTES: Upon a motion made by Commissioner Stackpole and duly seconded by Commissioner Jelleme, it was unanimously VOTED to accept, approve, and release the regular session minutes of April 12, 2022, as written. Mr. Geddes departed the meeting at 4:55 p.m. F. FINANCIAL BUSINESS: 1. Monthly Financial Report: The Commission accepted the March 31,2022, financial report including the balance sheet and income statement previously provided by email. 2. Warrant Authorization—Cash Disbursements: Upon a motion made by Commissioner Stackpole and duly seconded by Commissioner Reinhard, it was unanimously VOTED to execute the April 26, 2022,warrant document in the amount of$67,337.35 to be provided to the County Treasurer. II. EXECUTIVE SESSION: A motion was made by Commissioner Stackpole and duly seconded by Commissioner Donato 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: Allen Reinhard-Aye;Kristina Jelleme-Aye;Neil Paterson-Aye; John Stackpole-Aye, Mark Donato-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. ADJOURNMENT: Upon a motion made by Commissioner Reinhard and duly seconded by Commissioner Stackpole, it was VOTED to adjourn at 5:40 p.m. Attested to: Mark Donato, ecretary Accepted, Approved, d Released by the VOTE of the Commis 'on t s 10th day of May 2022. Neil Paterson, Chairman DOCUMENTS AND EXHIBITS ! Nantucket Land Bank Commission Regular Meeting of April 26, 2022 1. Sconset Golf Course—Financial Reports March 2022 2. Miacomet Golf Course—Financial Reports March 2022 3. Warrant Authorization—MGC Capital Transfer Request 4. 113 Madaket Road—Surplus Housing Proposals Aerial 5. 141 Eel Point Road—Trail Proposal Aerial 6. 19 E Creek Road—Design Proposal 7. 48 S. Cambridge Street Walkway and Pier—Register of Bidders 8. "M"Releases of Liens (see transfer business for record nos.) 9. Land Bank Financial Statements—March 2022 10. Check Warrant Summary dated April 26, 2022 1 NANTUCKET LAND BANK COMMISSION WORKSHEET UNAUDITED FINANCIAL REPORT as of March 31, 2022 STATEMENT OF ACCOUNTS -UNRESTRICTED FUNDS Feb YIELD Mar YIELD 2/28/2022 3/31/2022 Nantucket Bank/Operating Fund x8888 0.00 0.00 $38,763.54 $37,161.69 Nantucket Bank/Collection Account x7653 0.25 0.25 $41,873,161.80 $35,959,449.17 Nantucket Bank/Special CD x1135 matures 5/20/2022* 0.20 0.20 $5,055,195.83 $5,056,054.59 TOTAL UNRESTRICTED FUNDS: $46,967,121.17 $41,052,665.45 STATEMENT OF ACCOUNTS- RESTRICTED FUNDS Feb YIELD Mar YIELD 2/28/2022 3/31/2022 US Bank/Series A Bonds Reserve Fund I TNotes mature 5/15/22 MktVal 1.74 1.75 $3,068,469.70 $3,069,867.87 US Bank/Series A Bonds Debt Service Fund x1oo2 0.00 0.00 $20,907.21 $20,907.30 US Bank/Acquisition Fund x1oo3 0.00 0.00 $1.10 $1.10 Nantucket Bank/SHAC Escrow x7038 0.25 0.25 $40,100.68 $40,109.19 Nantucket Bank/NFRM Escrow x9058 0.25 0.25 $10,016.66 $10,018.79 Nantucket Bank/CSMF (Industrial Pk Mitigation) Escrow x1457 0.25 0.25 $44,010.04 $44,019.38 Nantucket Bank/Nabalus Escrow x1473 0.15 0.15 $1,660.75 $1,660.96 Nantucket Bank/MGC Golf Capital Reserve 0.25 0.25 $251,398.45 $251,451.83 Nantucket Bank/SGC Capital Reserve 0.25 0.25 $391,616.71 $391,699.86 Nantucket Bank/NGM Management Reserve 0.25 0.25 $6,084.34 $6,252.31 Hingham Savings/Marble Reserve CD matures 8/29/2022 0.40 0.40 $226,913.71 $226,990.81 Citizens Bank/Rackemann Sawyer Acquisition Escrow $550,000.00 $424,000.00 TOTAL RESTRICTED FUNDS: $4,611,179.35 $4,486,979.40 TOTAL FUNDS: $51,578,300.52 $45,539,644.85 BONDS: Principal Outstanding Payment Due Annual Payments 2009 Series A Issue $220,000 Principal and Interest due 7/1/22 $223,245.00 (Final principal payment 7/1/2022) 2012 Series A Issue $3,780,000 Interest due 8/15/22,Principal and Interest due 2/15/23 $426,862.50 (Final principal payment 2/15/2032) 2016 Series A Refunding Bond $5,780,000 Interest due 6/1/22,Principal and Interest due 12/1/22 $1,063,400.00 (Final principal payment 12/1/2027) TOTAL BONDS: $9,780,000 TOTAL ANNUAL BOND PAYMENTS: $1,713,507.50 NOTES: Principal Outstanding Payment Due Annual Payments Marble Note#19 $1,700,000 Interest of$25,768.60 due 6/9/22,9/9/22, 12/9/22,3/9/23 $103,074.40 Hays Note#37 $1,333,333 Principal due 6/12/22 $1,333,333.33 TOTAL NOTES: $3,033,333 TOTAL ANNUAL NOTE PAYMENTS: $1,436,407.73 TOTAL DEBT: $12,813,333 TOTAL ANNUAL DEBT PAYMENTS: $3,149,915.23 *A 12-month CD with the benefit of withdrawing at any time,if needed, without penalty. DOCUMENTS AND EXHIBITS Nantucket Land Bank Commission Regular Meeting of April 26, 2022 1. Sconset Golf Course—Financial Reports March 2022 2. Miacomet Golf Course—Financial Reports March 2022 3. Warrant Authorization—MGC Capital Transfer Request 4. 113 Madaket Road—Surplus Housing Proposals Aerial 5. 141 Eel Point Road—Trail Proposal Aerial 6. 19 E Creek Road—Design Proposal 7. 48 S. Cambridge Street Walkway and Pier—Register of Bidders 8. "M"Releases of Liens (see transfer business for record nos.) 9. Land Bank Financial Statements—March 2022 10. Check Warrant Summary dated April 26, 2022 TRANSFER BUSINESS Nantucket Land Bank Commission Regular Meeting of April 26, 2022 1. "M"Exemption Update: a. Five-Year Domicile and Ownership Compliance—Releases of Liens: No. 19896 W.C. Dwyer Maloney and Paula Maloney No.38409 Joseph Ranstatler and Kelly Ranstatler No. 38421 Georgi Dimov WAIVER OF RIGHT OF FIRST REFUSAL The NANTUCKET ISLANDS LAND BANK(the"LAND BANK") (together with its successors and/or assigns), being the holder of a Right of First Refusal, dated January 10, 2003 and recorded with the Nantucket Country Registry of Deeds in Book 798,Page 9, as affected by that certain Waiver and Amendment of Right of First Refusal, dated May 4, 2009 and recorded with said Registry in Book 1182, Page 219, as affected by that certain Waiver of Right of First Refusal, dated June 23,2015, recorded with said Registry at Book 1488, Page 310, as further affected by that certain Waiver of Right of First Refusal, dated September 27, 2016 and recorded with said Registry at Book 1569, Page 232, as further affected by a Waiver of Right of First Refusal dated November 14, 2017,recorded at Book 1620, Page 176, as further affected by that a waiver of Right of First Refusal dated March 23, 2021, recorded with said Registry at Book 1816, Page 23, encumbering the property located at 57 Washington Street,Nantucket, Massachusetts, more particularly described as Lot 1A on plan filed with the Nantucket Registry of Deeds in Plan 2016-87 (the"PROPERTY") on any sale or resale or transfer of the PROPERTY hereby acknowledges that is has been offered the PROPERTY pursuant to said Right of First Refusal, on the following described TERMS AND CONDITIONS: 1. SELLER: Huckle& Co. LLC 2. OFFEROR/BUYER: Farhood Azima and Cynthia Azima, or their nominee 3. DATE of OFFER to PURCHASE: April 23, 2023 4. PROPERTY DESCRIPTION: 57 Washington Street,Nantucket, Massachusetts 5. PURCHASE PRICE: $4,800,000 6. TIME FOR PERFORMANCE, DELIVERY of the DEED: October 20, 2022 The LAND BANK, on a Vote taken at its regular scheduled meeting held on May , 2022 hereby WAIVED its right to exercise such Right of First Refusal with respect to the above referenced transaction provided,however,that the LAND BANK, its successors or assigns, shall retain the option to purchase said PROPERTY if it is offered for sale at any subsequent time, and all the terms of said Right of First Refusal shall remain in full force and effect as originally stated. The Right of First Refusal does not apply to,restrict or affect mortgages, including enforcement thereof and foreclosures thereunder. IN WITNESS WHEREOF, executed under seal this day of May, 2022. THE NANTUC T ISLANDS LAND BANK, by its Commissioners: Neil t n, Chairman 1 alAwk- C(ACI All B. Reinhard, Vice Ch.' ;.. 2 1110 Mark Donato, Secret Kristina Jelleme, Treasurer C �_ John J. t .ckpole, Vice Secretary/Vice Treasurer COMMONWEALTH OF MASSACHUSETTS Nantucket, ss. May , 2022 44 On this 10 day of May, 2022, before me,the undersigned notary public,personally appeared Neil Paterson,Allen B. Reinhard, Mark Donato,Kristina Jelleme, and John J. Stackpole,proved to me through satisfactory evidence of identification, which was Photo ID,to be the person(s) whose name(s) are on the preceding or attached document, and acknowledged to me that they signed it voluntarily for its stated purpose. • 127 PWfizs--- Notary Public I My Commission Expires: I°/ t°!ag ``waltiot,,i \' p.N P• 14i/4 ,, ssio '•••.S P�,,�`S,er 6 N O o 19 ?oa;.`%- :>.o }* wpm: ,(14 49 0''Dy