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Home My WebLink About2023-1-10 AGENDA Nantucket Land Bank Commission . Regular Meeting of January 10,2023 Land Bank Conference Room,22 Broad Street - CALL TO ORDER: 4:00 P.M. t A. CONVENE IN OPEN SESSION 1 1. PUBLIC COMMENT/STAFF ANNOUNCEMENTS • 2. PROPERTY MANAGEMENT a. 19 Wauwinet Rd/Cottage—2"d Floor Bedroom Plan Review . b. Cisco Beach—Surf School License Renewal c. 181 Hummock Pond Road/Gardner Farm—Request for No Hunting d. 166 Hummock Pond Road/Community Garden Greenhouse—Replacement e. 5 Miacomet Road/Dog Park—Lighting Request f. Smooth Hummocks—Nantucket Half Marathon 2023 g. 8 Ocean Avenue-Tree Cutting by Neighbor/Enforcement Order h. Various Properties—LLNF 2023 Birding Field Trips Request 3. REGULAR BUSINESS a. 9 East Creek Road—Execution of License b. East Creek Road—Execution of License 4. TRANSFER BUSINESS a. Current"M"Exemptions b. Current"0"Exemptions , c. "0"Exemptions Update ? 5. APPROVAL OF MINUTES a. Regular Meeting of December 13,2022 6. FINANCIAL BUSINESS a. Monthly Transfer Statistics b. Monthly Financial Report-November c. Warrant Authorization—Cash Disbursement • 7. COMMISSIONERS ADDITIONAL QUESTIONS AND CONCERNS 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; and for Purpose 3[G.L. c. 30A, 21(a)(3)], discussions concerning strategy with respect to ongoing litigation. The Commission will not reconvene in open session at the conclusion of executive session. 1. Approval of Executive Session Minutes 2. Ongoing Litigation Matters: a. Land Court Department Action No. 20MISC000058: The Ceylon Elves,LLC v. Nantucket Islands Land Bank Commission(3 &3B Wyer's Way) b. Land Court Department Action No.22 MISC 000409:Nantucket Islands Land Bank v. Hunter S.Ziesing and Marcy E.Ziesing,Co-Trustees of the Lampoon Nominee Trust(6 Wesco Place) c. Suffolk Superior Court Docket No.2284CV02606:Richard Corey,Trustee of Twenty- One Commercial Wharf Nominee Trust v.Massachusetts Department of Environmental Protection,Nantucket Islands Land bank,and Nantucket Conservation Commission. (Petrel Landing/17 Commercial Street) 3. Real Estate Acquisition C. ADJOURNMENT MINUTES ii---i Nantucket Land Bank Commission Regular Meeting of January 10, 2023 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; Susan Campese,Administrator/Finance Manager; Marian Wilson,Assistant Administrator; Eleanor Antonietti, Special Project Coordinator. Residential Designer, Ben Normand; and Editor and Chief of Nantucket Currents, Jason Graziadei were also present at call to order. 1 I. CONVENE IN OPEN SESSION: A. PUBLIC COMMENT/STAFF ANNOUNCEMENTS: 1. Ms. Bell told the Commission that a Memorandum of Agreement to accept the Federal grant money to construct the Wauwinet Road sidepath was on the Select Board agenda this l I week. She said there were a group of neighbors opposed to the sidepath,referring to it as a"path to nowhere." She asked the Commission if they would authorize her to send a letter of support for the path as it led to Eat Fire Spring,NISDA, Community Sailing,the Land Bank's Lamb property, etc. Commissioner Reinhard said the sidepath was critically needed for safety as well. Upon a motion made by Commissioner Donato and duly seconded by Commissioner Stackpole, it was unanimously VOTED to authorize Ms. Bell to send a letter of support for the bike path. B. PROPERTY MANAGEMENT: 1. 19 Wauwinet Road/Cottage—2nd Floor Bedroom Plan Review: Mr.Normand presented the plan to add two bedrooms and a bathroom to the second floor of the cottage. He explained there were minor modifications to the exterior, such as changing some windows to meet code for egress that would need to be approved by the Historic District Commission. Further,there was some damage to some of the supporting timbers from bug infestations that required replacement and the structural engineer would give various options from restoration of the post and beam timbers to engineered timbers. The consensus of the Commission was the quickest option would be preferred as the house is needed for Land Bank employee housing. Upon a motion made by Commissioner Stackpole and duly seconded by Commissioner Donato, it was unanimously VOTED to approve the plans as presented. Mr. Normand departed the meeting at 4:08 p.m. Rachael Freeman, Director of Environmental and Agricultural Resources, entered the meeting at Land Bank Commission Page 2 January 10, 2023 4:07 p.m. 2. Cisco Beach—Surf School License Renewal: Ms. Bell presented a request from Gary Kohner of Nantucket Island Surf School,to allow his use of a portion of the Land Bank's Cisco Beach property to rent surfboards and provide surfing lessons subject to Mr. Kohner continuing to provide stewardship of the property, carrying insurance protection with$500,000 coverage per occurrence and$1,000,000 in aggregate with the Land Bank named as additionally insured, and requiring students and board renters to sign hold-harmless agreements. Upon a motion made by Commissioner Stackpole and duly seconded by Commissioner Donato, it was unanimously VOTED to renew the license with an increased fee of$8,500 for the 2023 season. 3. 181 Hummock Pond Road/Gardner Farm—Request for No.Hunting: Ms. Campese presented a request from Carolyn Crowley to prohibit hunting at Gardner Farm. Ms. Campese relayed Ms. Crowley's concerns that it was a very popular dog walking area and she felt the other "no hunting"properties were not as desirable for walking for various reasons. Chairman Paterson said he had not heard any other complaints about hunting on the property and if it became an issue in the future,he would be willing to revisit the decision. The consensus of the Commission was to take no action. Ms. Bell recused herself from the following discussion. • 4. 166 Hummock Pond Road/Community Garden Greenhouse—Replacement: Chairman Paterson said the greenhouse at the Community Garden was in disrepair and needed to be replaced. Upon a motion made by Commissioner Stackpole and duly seconded by Commissioner Reinhard, it was unanimously VOTED to replace the greenhouse. ,1 5. 5 Miacomet Road/Dog Park—Lighting Request: Ms. Bell explained that Property Steward, Richard Schraff,had several requests from people to add lighting to the dog park so they could continue to visit the park after work in the winter months. Commissioner Stackpole suggested looking into solar down lighting. Ms. Bell said the lights would be on timers so they would not be on all night. The Commission was supportive of the idea and asked Ms. Bell to come back to a future meeting with options and pricing. 6. Smooth Hummocks—Nantucket Half Marathon 2023: Ms. Bell presented a request from the Nantucket Triathlon Club to hold the half marathon event throughout the Smooth Hummocks Coastal Preserve on Sunday, October 8,2023. The event would be held from 8:00— 11:00 am with the parking and start/end event festivities held on Bartlett's Farm property. A six- mile route would be repeated in two laps for those completing the half marathon, and a single loop run was being offered for runners who only wanted to race a 10K. Ms. Bell said the only change from last year's race was allowing more registrants since the inaugural race on the property went smoothly. Upon a motion made by Commissioner Stackpole and duly seconded by Commissioner Reinhard, it was unanimously VOTED to approve the event. 7. 8 Ocean Avenue—Tree Cutting by Neighbor/Enforcement Order: Ms.Freeman • - explained that the former owners of 2 Gully Road had cut down over one hundred trees on the Land Bank Commission Page 3 January 10, 2023 property and had cut down six trees on the Land Bank property. She reported the owners and contractor would be present at the January 19th Conservation Commission meeting where a remediation plan would be ordered. Ms. Freeman said that she had sent a letter to the Conservation Commission to make sure the damage done to the Land Bank property was included in the remediation plan. 8. Various Properties—LLNF 2023 Birding Field Trips Request: Ms. Bell said the request was the same as last year with some free field trips and some paid field trips, so if approved LLNF would add the Land Bank as additionally insured on their general liability insurance policy and have hold-harmless waivers executed by field trip participants. Upon a motion made by Commissioner Stackpole and duly seconded by Commissioner Reinhard, it was unanimously VOTED to approve the request as presented. C. REGULAR BUSINESS: 1. 9 East Creek Road—Execution of License: Ms. Bell explained that the Town had a warrant article on the Annual Town Meeting to grant an easement to construct an accessible parking spot and a walkway from the Our Island Home building to the 19 East Creek property for the future accessible viewing deck,walkway, and dock. She explained the easement would take a while so the four-year license would allow the Land Bank to begin permitting the project. Upon a motion made by Commissioner Stackpole and duly seconded by Commissioner Reinhard, it was unanimously VOTED to execute the license. i 2. East Creek Road—Execution of License: Ms. Bell said the perpetual license to use and improve East Creek Road was being granted to the Land Bank so the 19 East Creek property improvements could begin. Upon a motion made by Commissioner Stackpole and duly seconded by Commissioner Reinhard, it was unanimously VOTED to execute the license. D. TRANSFER BUSINESS: 1. December 2022 Transfers—Record Nos. 45169 through 45286: The Commission reviewed transfers for the period of December 1, 2022,through December 31, 2022. 2. Current"M"Exemption and Lien: Upon a motion made by Commissioner Stackpole and duly seconded by Commissioner Reinhard, it was unanimously VOTED to authorize the placing of liens against the following property as a result of the purchasers claiming the"M" exemption as first-time buyers of real property: No. 45238 Samuel Ry Murphy and Shantaw S. Bloise 3. Current"0"Exemptions and Liens: Upon a motion made by Commissioner Stackpole and duly seconded by Commissioner Reinhard, it was unanimously VOTED to authorize the placing of a liens against the following properties as a result,of the purchasers claiming the"0" exemption as part of a deed-restricted affordable housing program: Land Bank Commission Page 4 January 10, 2023 No. 45188 Rebecca Glidden and Jules Embry-Pelrine No. 45262 Dipak Thapa and Milan Thapa 4."O"Exemption Update/Five-Year Domicile and Ownership Compliance—Release of Liens: Upon a motion made by Commissioner Stackpole and duly seconded by Commissioner Reinhard, 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 (-o-): • No. 39228 Naomi J. Harnishfeger No. 39229 Carrie A Drayton No. 39233 Raimondas Rascius and Ingrida Rascius • No. 39234 Diana Marie Kimball No. 39241 Andrea G. Gayle No. 39242 Douglas P. Smith No. 39248 Hristo Furnadzhiev • No. 39250 Bryan L. Jennings and Jessica H. Jennings No. 39266 Sunny Daily and Gregory Frank Malfatto 4. "M"Exemption Updates: E. APPROVAL OF MINUTES: Upon a motion made by Commissioner Donato and duly seconded by Commissioner Reinhard it was unanimously VOTED to accept, approve, and release the regular session minutes of December 13,2022, as written. F. FINANCIAL BUSINESS: 1. Monthly Transfer Statistics: Monthly transfer statistics reports comparing calendar years 2021 and 2022,through December 2022, and fiscal years 2022 and 2023,through December 22 were presented to the Commission. 2. Monthly Financial Report- September: The Commission accepted the November 2022 financial report including the balance sheet and income statement previously provided by email. 3. Warrant Authorization—Cash Disbursements: Upon a motion made by Commissioner Donato and duly seconded by Commissioner Stackpole it was unanimously VOTED to execute the January 10, 2023,warrant document in the amount of$445,717.58 to be provided to the County Treasurer. G. COMMISSIONERS ADDITIONAL QUESTIONS AND CONCERNS:None. II. EXECUTIVE SESSION: Upon a motion made by Commissioner Jelleme and duly seconded by Commissioner Donato, it was unanimously VOTED to go into executive session in order to discuss the purchase, exchange, lease or value of real property, discuss pending litigation and review and Land Bank Commission Page 5 January 10, 2023 I M approve executive session minutes. Donato-Aye; Paterson-Aye; Reinhard-Aye; Stackpole-Aye. The Chairman under Purpose 6 [G.L. c. 30A,21(a)(6)] declared that discussion of these matters in open session may be detrimental to the Land Bank's negotiating position; and under Purpose 3 [G.L. c. 30A, 21(a)(3)] for discussions concerning strategy with respect to ongoing litigation. 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 Stackpole and duly seconded by Commissioner Reinhard, it was VOTED to adjourn at 5:51 p.m. Attested to: 72_ ze r�r4 /. Mark Donato, ecretary Accepted, Approved,land Released by the VOTE of the Commission t 's 24th day of January 2023. Neil Paterson, Chairman MONTHLY TRANSFER STATISTICS CALENDAR`2021 r 1 1 CAL21 Total Exempt Taxable Total Gross Gross Revenue Month Transfers Transfers Transfers Value Value Taxable Received 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 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 TOTAL CY21 1511 677 826 $2,607,688,173 $2,539,342,884 $50,834,858 Average 126 56 69 $217,307,348 $211,611,907 $4,236,238 Low 86 34 39 $107,677,305 $99,427,305 $1,988,546 High 197 103 141 $582,600,629 $579,326,185 $11,586,524 MONTHLY.TRANSFER STATISTICS CALENDAR 2022 CAL22 Total Exempt Taxable Total Gross Gross Revenue Month Transfers Transfers Transfers Value Value Taxable Received 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 85 50 35 $114,937,121 $107,212,121 $2,144,242 Jun-22 98 57 41 $130,698,457 $122,677,055 $2,453,541 Jul-22 79 48 31 $124,164,276 $119,014,276 $2,387,886 Aug-22 81 57 24 $84,455,392 $70,037,323 $1,417,575 Sep-22 85 41 44 $199,748,058 . $192,528,058 $3,850,561 Oct-22 97 38 59 $216,160,950 $206,610,950 $4,132,219 Nov-22 88 43 45 $186,319,400 $178,167,500 $3,563,350 Dec-22 117 59 58 $178,569,358 $165,994,358 $3,325,661 TOTALCY22 1044 • 562 482. $1,728,397,480 $1,616,170,893 $32,371,610 Average 87 47 40 $144,033,123 $134,680,908 $2,697,634 Low 49 30 19 $64,634,159 $62,761,659 $1,254,483 High 117 59 59 $216,160,950 $206,610,950 $4,132,219 i I MONTHLY(UNAUDITED) • MINT :-)til ANSFE-R S,A,'i STICSIFIS.W E:4R ,04::NrS . °'n"":1._ ..__i'M4ZWW 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 85 50 35 $114,937,121 ' $107,212,121 $2,144,242 Jun-22 98 57 41- $130,698,457 $122,677,055 $2,453,541 1 THRUDEC21 803 342 461 1,696,150,894 1,660,212,935 33,216,259 Average 108 52 57 $202,927,578 $195,335,947 $3,909,218 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 LOP NTH I TRANSFER*ST \TISTI014TIgt-AL YEAR 2023 ,;; E l `'' FY23 Total Exempt Taxable Total Gross Gross Revenue Month Transfers Transfers Transfers Value Value Taxable Received Jul-22 79 48 31 $124,164,276 $119,014,276 $2,387,886 ) Aug-22 81 57 24 $84,455,392 $70,037,323 $1,417,575 Sep-22 85 41 44 $199,748,058 ' $192,528,058 $3,850,561 Oct-22 97 38 59 $216,160,950 $206,610,950 $4,132,219 Nov-22 88 43 45 $186,319,400 $178,167,500 $3,563,350 Dec-22 117 59 58 $178,569,358 $165,994,358 $3,325,661 Jan-23 Feb-23 Mar-23 Apr-23 • May-23 Jun-23 THRU.DEC 22 547 286 261 $989,417,434 $932,352,465 $18,677,252 Average 91 48 44 $164,902,906 $155,392,077 $3,112,875 Low 79 38 24 $84,455,392 $70,037,323 $1,417,575 High 117 59 59 $216,160,950 $206,610,950 $4,132,219 i 1 MONTHLY(UNAUDITED) 1 — - ---- NANTUCKET LAND BANK COMMISSION WORKSHEET UNAUDITED FINANCIAL REPORT as of November 30, 2022 STATEMENT OF ACCOUNTS-UNRESTRICTED FUNDS Oct YIELD Nov YIELD 10/31/2022 11/30/2022 Nantucket Bank/Operating Fund x8888 0.00 0.00 346,488.95 $44,157.78 Nantucket Bank/Collection Account x7653 - 0.25 0.25 $26,211,859.66 $28,353,175.44 Nantucket Bank/Special CD x1135 matures 5/20/2023* 0.75 0.75 $5,073,441.06 $5,076,569.45 TOTAL UNRESTRICTED FUNDS: $31,331,789.67 $33,473,902.67 STATEMENT OF ACCOUNTS-RESTRICTED FUNDS. Oct YIELD Nov YIELD 10/31/2022 11/30/2022 US Bank/Series A Bonds Reserve Fund/SLGS mature 12/1/27&2/15/32 MktVal 2.93 2.93 $1,505,315.58 $1,507,172.69 US Bank/Series A Bonds Debt Service Fund x1oo2 0.00 0.00 $20,908.62 $997,610.71 US Bank/Acquisition Fund x1oo3 0.00 . o.00 $1.10 $1.10 Nantucket Bank/SHAG Escrow x7038 0.25 0.25 $22,002.48 $22,007.00 Nantucket Bank/NFRM Escrow x9058 - 0.25 ' 0.25 $10,008.42 $10,010.48 Nantucket Bank/CSMF(Industrial Pk Mitigation) Escrow x1457 0.25 0.25 $32,073.76 $32,080.35 Nantucket Bank/Nabalus Escrow x1473 0.15 0.15 $1,662.40 $1,662.60 Nantucket Bank/MGC Golf Capital Reserve 0:25 0.25 $226,033.65 $84,715.01 Nantucket Bank/SGC Capital Reserve 0.25 0.25 $603,956.63 $604,080.73 Nantucket Bank/NGM Management Reserve 0.25 0.25 $18,770.94 $20,858.57 Hingham Savings/Marble Reserve CD matures 10/2/2023 2.23 2.23 $228,254.97 $228,673.71 Citizens Bank/Verrill Dana Acquisition Escrow $4,530,000.00 $150,000.00 TOTAL RESTRICTED FUNDS: $7,198,988.55 $3,658,872.95 TOTAL FUNDS: $38,530,778.22 $37,132,775.62 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 Interest due 6/1/23,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 12/9/22,3/9/23,6/9/23,9/9/23 $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 A 12-month CD with the benefit of withdrawing at any time,if needed, without penalty. STATEMNTFY23 DOCUMENTS AND EXHIBITS Nantucket Land Bank Commission Regular Meeting of January 10, 2023 1. 19 Wauwinet Road—Cottage improvement plans 2. Nantucket Island Surf School—Request for License Renewal 3. 2023 Nantucket Half Marathon—Request 4. 8 Ocean Avenue—Pictures of Trees cuts 5. LLNF Request for Birding Field Trips on various Land Bank properties 6. 9 East Creek Road—License 7. East Creek Road-License 8. Monthly Transfer Report—December 2022 9. Current"M"Exemption(see transfer business for record no.) 10. Current"0" Exemptions (see transfer business for record nos.) 11. "0"Exemption Updates (see transfer business for record nos.) 12. Calendar Year Transfer Statistics and Graphs—December 2022 13. Fiscal Year Transfer Statistics and Graphs- December 2022 14. Land Bank Financial Statements—November 2022 15. Check Warrant Summary dated January 10, 2023 1 • I • TRANSFER BUSINESS Nantucket Land Bank Commission Regular Meeting of January 10, 2023 1. December 2022 Transfers—Record Nos. 45169 through 45286 a. Current"M"Exemption and Lien: No. 45238 Samuel Ry Murphy and Shantaw S. Bloise b. Current"0" Exemptions and Liens: No. 45188 Rebecca Glidden and Jules Embry-Pelrine No. 45262 Dipak Thapa and Milan Thapa 2. "0"Exemption Update: a. Five-Year Domicile and Ownership Compliance—Release of Liens: No. 39228 Naomi J. Harnishfeger No. 39229 Carrie A. Drayton No. 39233 Raimondas Rascius and Ingrida Rascius No. 39234 Diana Marie Kimball No. 39241 Andrea G. Gayle No. 39242 Douglas P. Smith No. 39248 Hristo Furnadzhiev No. 39250 Bryan L. Jennings and Jessica H. Jennings No. 39266 Sunny Daily and Gregory Frank Malfatto •