HomeMy WebLinkAbout2022-9-7 MINUTES
iNantucket Land Bank Commission
I 4 Regular Meeting of September 27, 2022 •
Land Bank Conference Room, 22 Broad Street
Nantucket, Massachusetts
CALL TO ORDER: 4:00 p.m.
PRESENT: Mark Donato,Kristina Jelleme,Allen Reinhard, John Stackpole,Neil Paterson.
STAFF PRESENT: Jesse Bell, Executive Director;Susan Campese, Administrator/Finance
Manager; Eleanor Antonietti, Executive Assistant; Marian Wilson, Assistant Administrator;
Rachael Freeman, Director of Environmental and Agricultural Resources.
'NGM, Inc. President, Matthew Galvin; Miacomet Golf Course and Sconset Golf Course General
_ Manager, Sean Oberly; and Inquirer and Mirror Reporter, Dean Geddes, were also present at call
to order.
I. CONVENE IN OPEN SESSION:
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A. PUBLIC COMMENT/ STAFF ANNOUNCEMENTS:
1. Cross-Island Hike: Ms. Campese stated that the event on Saturday, September 24th
was a success and went smoothly due to the Land Bank staffs coordinated efforts. Approximately
120 people participated in the 18.9 mile hike which started at the Tom Nevers fairgrounds and
ended at Settler's Landing in Madaket. While the attendance was not as high as in previous years
due to weather,the hikers were pleased with the day and appreciative of the Land Bank's efforts.
The Commission thanked staff for their hard work and recognized Ms. Campese in particular for
executing another successful Cross-Island Hike.
2.Nantucket Half Marathon in Smooth Hummocks: Ms. Bell reminded the
Commission that on Saturday, October 9th at 8:00 a.m. the Nantucket Half Marathon will take place
on a course running through the Smooth Hummocks'Coastal Preserve. The event is organized by
the Nantucket Triathlon Club and over 500 runners were registered.
3. Harvest Fair Information Table: Ms. Wilson announced that Land Bank staff will
have a vendor's table on Saturday, October 1st from 10:00 a.m. -4:00 p.m. at the Milestone
Cranberry Bogs at 220 Milestone Road. The event presented a good outreach opportunity to connect
with the year-round community and answer any Land Bank questions.
B. GOLF BUSINESS:
1. Sconset Golf Course ("SGC") — Manager's Monthly Review: The Commission
reviewed the profit and loss summary for August 2022. Mr. Oberly stated that rounds were slightly
lower, but covers were slightly higher than last year. Mr. Galvin confirmed that the Nantucket High
School JV golf team practices at SGC and the,Varsity golf team practices and plays at MGC.
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September 27, 2022 ,
2. Miacomet Golf Course ("MGC")—Manager's Monthly Review: The Commission
reviewed the profit and loss summary for August 2022. Mr. Oberly said that covers and the golf
shop revenues were up slightly,however,there was room for improvement in the F&B department.
A new software program had been installed to track inventory and identify potential costly issues.
Further exploratory cost-cutting measures could include changes to the insurance policy and
managing seasonal employee overtime pay.
3. Warrant Authorization—Golf Capital Funds Transfer Request: Upon a motion
made by Commissioner Stackpole and duly seconded by Commissioner Jelleme, it was
unanimously VOTED to execute the September 27,2022, warrant document.in the amounts of
$53,080.86 to be provided to Nantucket Golf Management, Inc. from the MGC Golf Capital
Reserve account.
4. Golf Capital Committee -Report and Recommendations: Chairman Paterson
recapped the golf capital work group meeting previously held and noted that employee housing was
a top priority. The work group recommended the following items: explore adding two bedrooms to
the upstairs of the MGC maintenance facility building;renovating the Burchell house and consider
adding an upstairs apartment to the SGC clubhouse as well as improving the accessibility of the
exterior front porch. Mr. Galvin planned to contact architect, Ethan Griffin, to explore improving
existing structures to accommodate additional housing needs and to evaluate the cost of renovating
existing structures versus new construction. Further,the workgroup favored expanding the driving
} range an additional 43 yards subject to obtaining permitting approvals. Mr. Oberly confirmed that
the expansion would be natural and require minimal maintenance. Mr. Galvin contacted golf
architect Howard Maurer to examine the scope of work for the driving range and improvement for
the 18th hole and putting green at MGC. Mr. Galvin reported that errant golf balls have been landing
on an abutter's property and causing damage to the structure. He proposed relocating the 18th
fairway and green to resolve the problem and address safety concerns. Discussion ensued and the
Commission was open to the concept. He also proposed enlarging the current putting green and
improving the short practice area directly in front of the golf club stating that all 3 items could be
permitted and renovated as one project with an estimated cost of$250,000. Mr. Oberly
recommended upgrading the outdoor sound system which would be especially useful for
tournaments. The last capital item recommended was an installation of soundproof panels in the
golf simulator room on the walls and ceiling to minimize noise issues in the restaurant.
Mr. Galvin reviewed their employee housing inventory and confirmed that two units were rented
from third parties at$20,000 per season for two people and $40,000 per season for three people.
Further, he planned to present a housing costs analysis at a future meeting.
Mr. Oberly and Mr. Galvin departed the meeting at 4:41 p.m.
C. PROPERTY MANAGEMENT:
1. 28 Washington Street/Maria Mitchell Association—Lease Extension: Upon a
-. motion made by Commissioner Stackpole and duly seconded by Commissioner Jelleme, it was
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September 27, 2022
unanimously VOTED to authorize Ms. Bell to execute the Second Lease Agreement between Maria
Mitchell Association and the Nantucket Islands Land Bank for the continued use of the property
until November 16, 2023.
2. 321 Polpis Road—IFB for Property Improvement Project Award: Ms. Antonietti
recommended that the Commission award the contract to the lowest eligible and responsible bidder
whose bid came in it at$96,300. The contract and associated documents have been examined and
approved by Town Counsel. Upon a motion made by Commissioner Stackpole and seconded by
Commissioner Donato, it was VOTED to authorize the Executive Director of the Land Bank to
accept the bid as submitted and execute the contract for the bid awarded to C. C. Construction, Inc.
Commissioner Jelleme recused herself from the vote.
3. Current Project Updates:
a. 113 Madaket Road: Ms. Freeman and Ms. Antonietti confirmed that all
permitting had been approved and the Keltz cottage was scheduled to move October 13,2022,by
Warren Ard, whereas the main house was scheduled to be moved by Toscana on November 2, 2022.
Further,plans have been made to remove the shed,septic, and fill in both foundations.
b. 19 Wauwinet Road: Ms. Freeman reviewed an aerial GIS map of the
property and confirmed the current location of the Heifer barn and the relocation site on the abutting
NISDA property which was scheduled for October 24, 2022. She stated that subsequent work
included demolition of the barn foundation, deck, and breezeway, the chicken coop, the pool and
patio, as well as filling in holes created with removal of foundation and pool. She presented a
conceptual plan designed by Julie Jordin which showed the proposed layout of the property after the
removal of the heifer barn and other structures. Commissioner Jelleme stated that the existing
culverts were not natural and inquired if any thought had been given to removing the culvert. Ms.
Freeman responded that she had concerns about removing the culvert and how that would change
the hydraulic pressure and potentially impact the historical sanctity of Eat Fire Spring. While she
typically would support the natural restoration of the spring, she felt this would best be considered
over time,perhaps in a successive phase down the road. The Commission favored the design and
Ms. Freeman noted that she was working on permitting to complete all projects once the heifer barn
was removed.
c. 321 Polpis Road: Ms. Antonietti defined the scope of work which included
a contractor`to demolish the structure, remove debris and abandon the septic system, with special
attention given to mitigating any damage within an environmentally sensitive area. She will schedule
a site meeting with our staff and the winning bidder prior to beginning the project.
d. 48 N. Cambridge Street: Ms. Freeman stated the dock at Long Pond
Landing was mostly complete,however, it was not built to specifications. The contractor needed to
replace the decking and certain spots with the correct wood and also-to complete sitework. There
have been delays due to supply chain issues and lack of availability of certain materials. Upon
completion of the project and after grass was established,the Commission suggested planning
another ribbon cutting ceremony.
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September 27,,2022
D. REGULAR BUSINESS:
1. Land Bank Community Preservation Committee ("CPC") Appointee—FY23
Grant Applications Review: Ms. Antonietti stated she was honored to be the Land Bank
representative for the CPC and notedLhat 7 grant applications with a total amount of$2,219,498
had been submitted to the CPC for consideration including one for affordable housing, several for
historic preservation and none for open space or recreational use. Further, she asked the commission
to offer suggestions within the community for future OSR consideration. She confirmed that Ken
Beaugrand was still the Chair of the CPC,representing TON Parks and Recreation Department.
E. TRANSFER BUSINESS:
1."M"Exemption Update—Release of Liens: Five-Year Domicile and Ownership
Compliance—Release of Liens: Upon a motion made by Commissioner Stackpole and duly
seconded by Commissioner Donato, 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. 38876 Angel Pleitez and Osmilda Tejada Pleitez
No. 38894 Jamie M. Foster and Courtney M. Foster
No. 38899 Courtney L. Miller and Liam T. Mackey
No. 38900 Frank Clayton Twombly and Joseph Olson
No. 38902 Robert Giacchetti and Susan McCarthy
No. 38937 Jennifer C. Shalley
No. 41339 Marleah J. Lydon and Christopher R. Lydon
F. APPROVAL OF MINUTES: Upon a motion made by Commissioner Donato and duly
seconded by Commissioner Stackpole, it was unanimously VOTED to accept, approve, and release
the regular session minutes of September 13, 2022, as written.
G. FINANCIAL BUSINESS:
1. Monthly Financial Report-August: The Commission accepted the August 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 Donato, it was VOTED to execute
the September 27, 2022, warrant document in the amount of$173,071.56 to be provided to the
County Treasurer. Chairman Paterson and Commissioner Jelleme recused themselves from the
vote.
3. FY22 Audit—Update: Ms. Campese briefly reviewed the Fiscal Year 2022
Audited Financial Statements prepared by O'Connor&Drew, P.C. previously sent electronically to
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September 27, 2022
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the Commission. She stated the audit expressed an unqualified opinion of the Land Bank financial
statements which was the best possible rating. A motion was made by Commissioner Stackpole and
duly seconded by Commissioner Reinhard to accept and approve the Fiscal Year 2022 audited
financial statements:Upon a motion made by Commissioner Reinhard and duly seconded by
Commissioner Stackpole it was unanimously VOTED to approve the Fiscal Year 2022 Financial
Summary, as written.
H. COMMISSIONERS ADDITIONAL QUESTIONS AND CONCERNS: None.
Mr. Geddes and Ms. Campese departed the meeting at 5:20 p.m.
II. EXECUTIVE SESSION: A motion was made by Commissioner Stackpole and duly seconded by
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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;Neil Paterson-Aye; John Stackpole-Aye; Kristina
Jelleme-Aye; and 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 d urn-a 6:10 p.m.
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Attested to:
Mar Donato, Secretary
Accepted, Approved, and Released by the VOTE
of the Commissi this 11th day of October 2022.
Neil Paterson, Chairman •
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NANTUCKET LAND BANK COMMISSION WORKSHEET
UNAUDITED FINANCIAL REPORT as of August 31, 2022
STATEMENT OF ACCOUNTS-UNRESTRICTED FUNDS Jul YIELD Aug YIELD 7/31/2022 8/31/2022
Nantucket Bank/Operating Fund x8888 0.00 0.00- $46,017.47 $46,313.09
Nantucket Bank/Collection Account x7653 0.25 0.25 $33,283,418.12 $29,168,244.43
Nantucket Bank/Special CD x1135 matures 5/20/2023* 0.75 0.75 $5,063,859.33 $5,067,085.93
TOTAL UNRESTRICTED FUNDS: $38,393,294.92 $34,281,643.45
STATEMENT OF ACCOUNTS-RESTRICTED FUNDS Jul YIELD Aug YIELD 7/31/2022 8/31/2022
US Bank/Series A Bonds Reserve Fund I SLGS mature 12/1/27&2/15/32 MktVal 2.93 2.93 $1,708,422.87 $1,501,539.44
US Bank/Series A Bonds Debt Service Fund x1oo2 0.00 0.00 $20,908.29 . $20,908.44
US Bank/Acquisition Fund x1oo3 0.00 0.00 $1.10 $1.10
Nantucket Bank/SHAC Escrow x7038 0.25 0.25 $21,988.62 $21,993.29
Nantucket Bank/NFRM Escrow x9058 - 0.25 0.25 $10,002.12 $10,004.24
Nantucket Bank/CSMF(Industrial Pk Mitigation) Escrow x1457 0.25 0.25 $32,053.55 $32,060.36
Nantucket Bank/Nabalus Escrow x1473 0.15- 0.15 • $1,661.78 $1,661.99
Nantucket Bank/MGC Golf Capital Reserve 0.25 0.25 $392,760.97 $322,777.89
Nantucket Bank/SGC Capital Reserve 0.25 0.25 $638,111.94 $603,704.37
Nantucket Bank/NGM Management Reserve 0.25 0.25 $12,510.71 $14,597.11
Hingham Savings/Marble Reserve CD matures 8/29/2022 0.40 0.40 $227,294.47 $227,364.22
Citizens Bank/Verrill Dana Acquisition Escrow $4,630,000.00 $4,530,000.00
TOTAL RESTRICTED FUNDS: • $7,695,716.42 $7,286,612.45
TOTAL FUNDS: $46,089,011.34 . $41,568,255.90
BONDS: Principal Outstanding Payment Due Annual Payments
2012 Series A Issue $3,780,000 Principal and Interest due 2/15/23,Interest due 8/15/23 $426,862.50
(Final principal payment 2/15/2032)
2016 Series A Refunding Bond $5,780,000 lntprest due 6/1/22,Principal and Interest due 12/1/22 $1,050,050.00
(Final principal payment 12/1/2027) .
TOTAL BONDS: $9,560,000 TOTAL ANNUAL BOND PAYMENTS: $1,476,912.50
NOTES: Principal Outstanding Payment Due Annual Payments
Marble Note#19 $1,700,000 Interest of$25,768.60 due 9/9/22, 12/9/22,3/9/23,6/9/23 • $103,074.40
TOTAL NOTES: $1,700,000 TOTAL ANNUAL NOTE PAYMENTS: $103,074.40
TOTAL DEBT: $11,260,000 TOTAL ANNUAL DEBT PAYMENTS: $1,579,986.90
72-montn t;v wltn me bener t or witndrawing at any time,it needed, witnout penalty. STATEMNTFY23
DOCUMENTS AND EXHIBITS
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Nantucket Land Bank Commission
Regular Meeting of September 27, 2022
1. Sconset Golf Course—Financial Reports August 2022
2. Miacomet Golf Course—Financial Reports August 2022
3. Golf Capital Reimbursement Request Warrant 9/27/22
4. NGM Inc Housing Inventory List
5. Golf Capital Workgroup Recommendations
6. CPC Funding Requests FY 2023 &FY 2024
7. Draft Audited Financial Statements FY 2022 •
8. Maria Mitchell Second Lease Amendment
9. Nantucket Land Bank IFB Register for Bidders -321 Polpis Road Demolition
10. Conceptual Design Plans for 19 Wauwinet Rd.
11. "M"Releases of Liens (see transfer business for record nos.)
12. Land Bank Financial Statements—August 2022
13. Check Warrant Summary dated September 27, 2022
TRANSFER BUSINESS
rl Nantucket Land Bank Commission
i y Regular Meeting of September 27, 2022
1. "M"Exemption Update:
a. Five-Year Domicile and Ownership Compliance—Releases of Liens:
No. 38876 Angel Pleitez and Osmilda Tejada Pleitez
No. 38894 Jamie M. Foster and Courtney M. Foster
No. 38899 Courtney L. Miller and Liam T. Mackey
No. 38900 Frank Clayton Twombly and Joseph Olson
No. 38902 Robert Giacchetti and Susan McCarthy
No. 38937 Jennifer C. Shalley
No. 413 3 9 Marleah J. Lydon and Christopher R. Lydon
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