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Home My WebLink About2023-4-25 AGENDA Nantucket Land Bank Commission Regular Meeting of April 25, 2023 Land Bank Conference Room, 22 Broad Street CALL TO ORDER: 4:00 P.M. r-? A. CONVENE IN OPEN SESSION 1. PUBLIC COMMENT/ STAFF ANNOUNCEMENTS ," viz 2. GOLF BUSINESSCrl a. Sconset Golf Course—Manager's Monthly Review(March) ..X b. Miacomet Golf Course—Manager's Monthly Review(March) c. Warrant Authorization—Golf Capital Funds Transfer Request 3. AGRICULTURAL PROPERTY MANAGEMENT a. Island Fair Discussion 4. PROPERTY MANAGEMENT a. Smooth Hummocks—Run for Recovery (9/24/23) Request b. 65/67 Easton Street—Naming Discussion c. 8 Ocean Avenue—Review of Restoration Plan and Access Agreement d. Water Tower Beach-Request to Grant NCF Parking Permission During an Alum Treatment on Capaum Pond e. Sesachacha Pond Boardwalk—Update 5. TRANSFER BUSINESS a. "M"Exemption Update—Release of Liens b. "0"Exemption Update—Release of Liens 6. APPROVAL OF MINUTES a. Regular Meeting of April 11, 2023- 8. FINANCIAL BUSINESS a. Monthly Financial Report—March b. Warrant Authorization—Cash Disbursement 9. COMMISSIONERS/STAFF 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 i I , ,_— MINUTES Nantucket Land Bank Commission Regular Meeting of April 25, 2023 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; Eleanor Antonietti, Special Projects Coordinator; Marian Wilson,Assistant Administrator; Rachael Freeman, Director of Environmental and Agricultural Resources. Jill Vieth; County Fair Organizer, Abby Slosek;NGM Inc. President, Matthew Galvin and General Manager, Sean Oberly; were also present at call to order. I. CONVENE IN OPEN SESSION: A. PUBLIC COMMENT/ STAFF ANNOUNCEMENTS: 1. Ms. Vieth explained that she has spoken to the Select Board about the Open Space &Recreation Plan, and they have agreed to strengthen the language in the plan to prioritize the island's need for an indoor recreation facility. She stated that to accomplish this, land was needed and she hoped the Land Bank could somehow play a role in providing it. Chairman Paterson thanked Ms. Vieth and the Commission indicated they would take it under advisement. Ms. Vieth departed the meeting at 4:05 p.m. B. AGRICULTURAL PROPERTY MANAGEMENT: 1. Island Fair Discussion: Ms. Slosek explained that the fair is looking for a new location as the collaboration with the Nantucket Conservation Foundation was not an optimal fit. Further,they needed the fair to be two days and with the bad weather and one day fair last year they did not earn the funds needed for this year. She said that the most significant cost was the tents, and the hope was to purchase tents versus renting them every year. She suggested that the Gardner Farm property might work for a location and with the Land Bank's focus on agriculture it could be a good partnership.After much discussion,Chairman Paterson said it was something that needed to be vetted by staff prior to any decisions being made. Ms. Slosek departed the meeting at 4:19 p.m. C. GOLF BUSINESS: 1. Audubon International—Certification: Mr. Galvin announced that Miacomet Golf Course had been fully certified(for the second time)by Audubon International and that SGC Land Bank Commission Page 2 April 25, 2023 certification was pending. Mr. Oberly explained that they were the only two courses on the island with this certification. The certification is based on the following criteria: Environmental Planning, Wildlife and Habitat Management, Chemical Use Reduction and Safety, Water Conservation, Water Quality Management and Outreach and Education. 2. Sconset Golf Course ("SGC")—Manager's Monthly Review(March): Mr. Oberly said that activity at the course would start around May 15t'to prepare for the opening on May 26th, however they would start selling the summer memberships earlier: 3. Miacomet Golf Course("MGC")—Manager's Monthly Review(March): Mr. Oberly said that due to weather conditions rounds were down for March but strong year to date. Even with the lower revenue the bottom line was still good due to management controlling expenses. He said he missed out on the H2B visa employees for the restaurant, but he was confident he would be able to fill the positions. Mr. Galvin said that after losing 22 members,the membership was currently 369. Further,he received new pricing from Farm Neck Golf Course on Martha's Vineyard which is a semi-public course and MGC prices were much lower. Mr. Oberly said it may be advantageous to advertise in order to bring in more revenue in the shoulder and off seasons. Mr. . Oberly reported that the irrigation system upgrades were complete, and the system was now again state of the art. Mr. Galvin said it was time to place the order for golf carts as the current lease was in its last year. He said it would only cost about$20,000 more to buy the carts rather than lease them for four years,however at the end of the four years there would be about$200,000 in trade-in value. He said he was still looking at options but would report back at a future meeting. 4. Warrant Authorization—Golf Capital Funds Transfer Request: Upon a motion made by Commissioner Stackpole and duly seconded by Commissioner Donato, it was unanimously VOTED to execute the April 25, 2023, warrant document in the amounts of$168,140.83 to be provided to Nantucket Golf Management, Inc. from the MGC Golf Capital Reserve account. Mr. Galvin and Mr. Oberly departed the meeting at 4:46 p.m. D. PROPERTY MANAGEMENT: 1. Smooth Hummocks—Run for Recovery (9/24/23) Request: Ms. Campese presented a request from Addiction Solutions of Nantucket, Inc. to hold a 5K and 2K walk as a fundraiser on Sunday, September 24, 2023,from 8:30 to 10:30 a.m. on roads in the Smooth Hummocks Coastal Preserve. They expected 180 to 200 people to attend, and parking and porta- potties would be located at Bartlett Farm. The event would be over, and all cleaned up by noon the same day. Upon a motion made by Commissioner Stackpole and duly seconded by Commissioner Donato, it was unanimously VOTED to approve the request. 2. 65/67 Easton Street—Naming Discussion: Ms. Campese presented a list of names suggested by staff and Commissioners and after some discussion, upon a motion made by Commissioner Reinhard and duly seconded by Commissioner Jelleme, it was unanimously VOTED to name the park"Land Bank Rain Garden". Land Bank Commission Page 3 April 25, 2023 3.8 Ocean Avenue—Review of Restoration Plan and Access Agreement:Ms.Freeman reported that she had fully reviewed the restoration plan and explained that the plan included removal of invasive plants as well as replacing trees that were cut down. She confirmed that all work would be done and paid for by the DiMartinos. Upon a motion made by Commissioner Donato and duly seconded by Commissioner Reinhard,it was unanimously VOTED to approve the plan and authorize Ms. Bell to execute the access agreement. 5. Water Tower Beach—Request to Grant NCF Parking Permission During an Alum Treatment on Capaum Pond: Ms. Freeman explained that Nantucket Conservation Foundation was treating the pond with alum to try to control algae blooms. They were asking permission to park a truck in the parking lot all day Friday. Upon a motion made by Commissioner Jelleme and duly seconded by Commissioner Donato, it was unanimously VOTED to approve the request. 6. Sesachacha Pond Boardwalk—Update:Ms.Freeman reported that the Conservation Commission had approved a 48" wide boardwalk for handicap accessibility to the pond and two bioswales along the street to divert the stormwater from entering the pond. She said the Quidnet Homeowners Association asked if the boardwalk could be 65"wide in order to accommodate sailfish dollies. Ms. Freeman told the Commission that since the boardwalk was flush to the ground, it should not be an issue for the dollies, further if the width of the boardwalk was changed, she would need to go back to the Conservation Commission for approval which would delay the project until the fall. Upon a motion made by Commissioner Jelleme and duly seconded by Commissioner Stackpole, it was unanimously VOTED to proceed with the 48"boardwalk. E. TRANSFER BUSINESS: 1. "M"Exemption Update/Five-Year Domicile and Ownership Compliance—Release of Lien: Upon a motion made by Commissioner Stackpole and duly seconded by Commissioner Donato, it was unanimously VOTED to authorize the issuance of Release of Lien for the following transfer as a result of the purchaser fulfilling the requirements of Section 12, subsection(-m-): No. 39620 Wynnshield LLC 2."O" Exemption Update/Four-Year Domicile and Ownership Compliance—Release of Lien: Upon a motion made by Commissioner Stackpole and duly seconded by Commissioner Donato, it was unanimously VOTED to authorize the issuance of a Release of Lien for the following transfer as a result of the purchaser fulfilling the requirements of Section 12, subsection(-o-): No. 39742 Jermaine A. Scarlett and Marita H. Scarlett F. APPROVAL OF MINUTES: A motion was made by Commissioner Stackpole and duly seconded by Commissioner Reinhard, it was unanimously VOTED to accept, approve, and release the regular session minutes of April 11, 2023. G. FINANCIAL BUSINESS: Land Bank Commission Page 4 April 25, 2023 1. Monthly Financial Report- February: The Commission accepted the March 2023 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 VOTED to execute the April 25, 2023, warrant document in the amount of$165,214.17 to be provided to the County Treasurer. Commissioner Jelleme recused herself from the vote. I. COMMISSIONERS ADDITIONAL QUESTIONS AND CONCERNS:None. II. EXECUTIVE SESSION: A motion was made by Commissioner Donato and duly seconded by Commissioner Jelleme to go into executive session in order to discuss the purchase, exchange, lease or value of real property; discuss strategy regarding litigation matters; and review and approve executive session minutes. A roll call vote was taken on the motion: Mark Donato-Aye; Kristina Jelleme-Aye; Allen Reinhard-Aye;Neil Paterson-Aye; The Chairman declared that Executive Session was being entered into under Purpose 6 [G.L. c. 30A, 21(a)(6)] as discussion of real estate acquisition 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 6:39 p.m. Attested to: Mark Do ato, Secretary Accepted,Approved, and Released by the VOTE of the Commission this 9th day of May 2023. A7;11,-, Neil Paterson, Chairman NANTUCKET LAND BANK COMMISSION WORKSHEET UNAUDITED FINANCIAL REPORT as of March 31, 2023 STATEMENT OF ACCOUNTS-UNRESTRICTED FUNDS Feb YIELD Feb YIELD 2/28/2023 ' 3/31/2023 Nantucket Bank/Operating Fund x8888 _ 0.00 0.00 $45,948.94 $46,249.12 Nantucket Bank/Collection Account x7653 1.36 1.62 $27,608,208.90 $27,124,545.46 Nantucket Bank/Special CD x1135 matures 5/20/2023* 0.75 0.75 $5,085,966.22 $5,089,206.91 TOTAL UNRESTRICTED FUNDS: $32,740,124.06 $32,260,001.49 STATEMENT OF ACCOUNTS-RESTRICTED FUNDS Feb YIELD Feb YIELD 2/28/2023 3/31/2023 US Bank/Series A Bonds Reserve Fund/SLGS mature 12/1/27&2/15/32 MktVal 2.93 2.93 $1,512,774.65 $1,514,719.00 US Bank/Series A Bonds Debt Service Fund x1oo2 0.00 . 0.00 $20,911.02 $20,911.11 US Bank/Acquisition Fu x1oo3 - o.00 o.00 $1.10 $1.10 Nantucket Bank/SHAC Es ow x7038 0.25 0.25 $22,020.56 $22,025.24 Nantucket Bank/NFRM Escro x9058 0.25 0.25 810,016.66 $10,018.79 Nantucket Bank/CSMF(Industrl I Pk Mitigation) Escrow x1457 0.25 0.25 $32,100.13 $32,106.95 Nantucket Bank/Nabalus Escrow 1473 0.25 0.25 $1,663.57 $1,663.92 Nantucket Bank/MGC Golf Capital Reserve 0.25 0.25 $20,851.93 $195,383.98 Nantucket Bank/SGC Capital Reserve 0.25 0.25 $604,453.18 $904,583.58 Nantucket Bank/NGM Management Reserve 0.25 0.25 $29,206.92 $29,213.12 Hingham Savings/Marble Reserve CD matures 10/2/2023 • 2.23 2.23 $229,934.55 $230,370.45 Citizens Bank/Verrill Dana Acquisition Escrow $100,000.00 $so,000.00 TOTAL RESTRICTED FUNDS: $2,583,934.27 $3,010,997.24 TOTAL FUNDS: $35,324,058.33 $35,270,998.73 • BONDS: Principal Outstanding Payment Due Annual Payments 2012 Series A Issue $3,435,000 Interest due 8/15/23,Principal and Interest due 2/15/24 $428,412.50 (Final principal payment 2/15/2032) 2016 Series A Refunding Bond $4,890,000 Principal and Interest due 12/1/23,Interest due 6/1/23 $1,056,700.00 (Final principal payment 12/1/2027) TOTAL BONDS: $8,325,000 TOTAL ANNUAL BOND PAYMENTS: $1,485,112.50 NOTES: Principal Outstanding Payment Due Annual Payments Marble Note#19 61,700,000 Principal due 1/10/24 $1,000,000.00 Owen Notes $1,000,000 Interest of$25,768.60 due 6/9/23,9/9/23, 12/9/23,3/9/24 $103,074.40 TOTAL NOTES: $2,700,000 TOTAL ANNUAL NOTE PAYMENTS: $1,103,074.40 TOTAL DEBT: $11,025,000 • TOTAL ANNUAL DEBT PAYMENTS: $2,588,186.90 *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 April 25, 2023 1. Island Fair Information 2. Sconset Golf Course—Financial Reports March 2023 3. Miacomet Golf Course—Financial Reports March 2023 4. Golf Capital Reimbursement Request Check Warrant 4/25/23 5. Audubon International Certification Miacomet Golf Course 6. Addiction Solutions Run 9/24/23 Event Request 7. 65/67 Easton Street—Name Suggestions 8. Gully Road Land Management Plan 9. 8 Ocean Avenue Restoration Plan 10. Ocean Avenue Site Access Agreement 11. "M" Releases of Lien (see transfer business for record no.) 12. "0" Release of Lien(see transfer business for record no.) 13. Land Bank Financial Statement—March 2023 14. Check Warrant Summary dated April 25, 2023 TRANSFER BUSINESS Nantucket Land Bank Commission t Regular Meeting of April 25, 2023 1. "M"Exemption Update: a. Five-Year Domicile and Ownership Compliance—Release of Lien: No. 39620 Wynnshield LLC 2. "0" Exemption Update: b. Five-Year Domicile and Ownership Compliance—Release of Lien: No. 39742 Jermaine A. Scarlett and Marita H. Scarlett