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Home My WebLink About2005-09-13 AGENDA Nantucket Land Bank Commission Regular Meeting of September 13,2005 Land Bank Meeting Room, 22 Broad Street Nantucket, Massachusetts CALL TO ORDER Minutes afthe regular meeting held August 24,2005. A. CITIZEN BUSINESS/ANNOUNCEMENTS B. PROPERTY MANAGEMENT 1. Miacomet Golf Update C. TRANSFER HEARING - Request to Postpone No. 25840, Atsiknoudas D. TRANSFER BUSINESS E. FINANCIAL BUSINESS 1. Monthly Transfer Statistics 2. Warrant Authorization c:'i U1 E. REGULAR BUSINESS 1. Public Notice Review f ~ G. PROPERTY MANAGEMENT 1. Property Manager's Update 2. Nobadeer Farm Road Property - EOEA Alteration Request ':::~ C1", H. EXECUTIVE SESSION ADJOURNMENT Land Bank Commission September 13,2005 Page 2 a. Current "M" Exemptions and Liens: The Commission authorized placing liens against the following properties as a result of the purchasers claiming the "M" exemption as first time buyers of real property: No.26005 Mark Wilson, Trustee, Wedidit Nominee Trust No. 26013 Caroline Reilly and Aisling L. Glynn No.26060 Richard P. Beaudette and Richelle L. D'Elia No. 26067 Donna Wyland b. Satisfactorily Completed Form Bs Not Provided: Staff was asked to seek satisfactorily completed Form Bs from the following: No. 26022 Rick J. Keebaugh and N efeli M. Keebaugh No.26034 Toby Abend, Trustee, Wauwinet Trees Realty Trust No.26049 Thomas J. Richards and Marcia R. Richards c. Supplemental Discussion: Staff was asked to seek additional information and/or documentation from the following: No.26070 Douglas Abbey and Nancy Abbey, Trustees, Ishmael Trust No.26079 Ian R.C. Witherby and Frederick R.H. Witherby, Jr. 2. Transfer Update: a. Notice of Lien - No. 25156 Robert Driscoll and Laina C. Driscoll: The Commission executed and authorized the issuance of a Notice of Lien based upon the purchasers' failure to request a hearing or provide additional information within thirty days ofthe Notice of Assessment dated July 14,2005. E. FINANCIAL BUSINESS: 1. Transfer Statistics: The August 2005 transfer statistics were presented to the Commission. 2. Warrant Authorization - Cash Disbursements: Upon a motion made and duly seconded, it was VOTED to execute the September 13, 2005, warrant document in the amount of $55,748.54 to be provided to the county treasurer. F. REGULAR BUSINESS: 1. Public Notice Review: The Director reviewed public notices received since the .last reVIew. No action was taken. G. PROPERTY MANAGEMENT: 1. Property Manager's Update: The Property Manager provided an update on matters relating to property maintenance, equipment procurement and controlled bum programs. MONTHLY TRANSFER STATISTICS CALENDAR 2004 Month Jan-04 Feb-04 Mar-04 Apr-04 May-04 Jun-04 Jul-04 AUQ-04 Sep-04 Oct-04 Nov-04 Dec-04 ......f8R~)i#~q# Average Low High Total Exempt Taxable Transfers Transfers Transfers 120 82 84 115 117 134 100 83 135 161 90 176 .//835... .............. . . . . . . . . . . . . . . . ..... -... 116 82 176 64 47 49 59 64 60 55 41 46 61 28 112 ....~.........439 ........... . . . . . . . . . . . . . 57 28 112 56 35 35 56 53 74 45 42 89 100 62 64 /396 59 35 100 Total Gross Value $79,888,337 $38,149,238 $33,101,234' $72,545,634 $79,316,822 $100,564,874 $73,444,580 $59,176,066 $154,396,620 $188,678,425 $90,528,833 $96,050,582 Gross Value Taxable $77,247,707 $37,749,238 $30,163,300 $68,241,190 $77,716,822 $96,964,874 $56,285,180 $58,161,216 $153,331,770 $163,378,425 $89,928,833 $94,817,249 .. ~ ~........... ~~ffl~ t ~~i?{3.6, ......... ~.$ $qg ;$?$~$$.~..... $88,820,104 $83,665,484 $33,101,234 $30,163,300 $188,678,425 $163,378,425 MONTHLY TRANSFER STATISTICS CALENDAR 2005 Revenue Received $1,544,954 $752,985 $609,766 $1,366,824 $1,560,086 $1,943,297 $1,125,704 $1 ,171 ,774 $3,066,635 $3,633,009 $1,808,922 $1,900,345 .....$.................................... ..... .1.0..07.5.:<).91..... ~: ~: ~ ~.: ~: ~::::~:;::. ~ ~;.: t~:.: ~::: ~: ~ $1,707,025 $609,766 $3,633,009 Total Exempt Taxable Total Gross Gross Revenue Month Transfers Transfers Transfers Value Value Taxable Received Jan-05 130 57 73 $136,754,392 $135,351,725 $2,744,481 Feb-05 85 48 37 $43,249,759 $42,599,759 $853,995 Mar-05 93 53 40 $68,345,932 $67,135,932 $1,356,739 Apr-05 89 50 39 $51,084,963 $49,884,963 $1,007,699 May-05 96 50 46 $83,808,142 $76,101,803 $1,524,036 Jun-05 124 58 66 $148,172,988 $144,472,988 $2,889,460 Jul-05 83 36 47 $84,966,423 $84,366,423 $1,691,900 Aug-05 92 45 47 $79,297,377 $78,447,377 $1,574,140 Sep-05 Oct-05 Nov-05 Dec-05 .,............. ................ .......TkR0Ay~@................7$?...............:..~$7:.......:............~~$.... Average 99 50 49 Low 83 36 37 High 130 58 73 MONTHL Y .. . ...~.. ...$R~$?p7$~$7~ $86,959,997 $43,249,759 $148,172,988 ...................... . ............$.................................. ....... ...... ...... . . ...... .... .. ...... . ..... ...... .... .. ..<.~.~.8?~;RRQ;~7q $84,795,121 $42,599,759 $144,472,988 ..................... . .. .~...~.$1$.~R4?;4$q.. $1,705,306 $853,995 $2,889,460 UNAUDITED MINUTES Nantucket Land Bank Commission Regular Meeting of September 13,2005 Land Bank Meeting Room, 22 Broad Street Nantucket, Massachusetts CALL TO ORDER: 4:03 P.M. PRESENT: Bartlett, Holdgate, Miller, Reinhard, Stackpole. Minutes of the regular meeting held August 24,2005: Upon a motion made and duly seconded, it was VOTED to accept, approve, and release the minutes of August 24, 2005, as written. A. CITIZEN BUSINESS/ANNOUNCEMENTS: 1. Contribution: The Director reported that a gift in the amount of $150 has been received from John Heggem and an acknowledgment letter has been sent thanking him for his annual contribution. B. PROPERTY MANAGEMENT: 1. Miacomet Golf Course: a. Monthly Financial Report: Charlie Passios presented the August 31, 2005, financial reports including the balance sheet and income statement. b. Golf Activity Report: Mr. Passios provided an update on golf including matters relating to course condition, golf activity, range play, member/guest tournament, disturbance to an abutters' property on Golfview Drive, and a recent staff confrontation with non-member players. c. 2005 Membership Funds: Mr. Passios provided a handout summarizing management's proposal for the use of funds collected from the 2005 membership offerings including initiation fees and dues and any revenue generated from future membership offerings. In brief, Mr. Passios recommended allocating these funds to a "Capital Fund" to be used for partial repayment to the Land Bank of existing operational cash advances, as a reserve for off-season operations, and for ongoing capital equipment purchases and capital projects. No action was taken. d. Management Agreement/Contract Proposal: Charlie Passios, President, Moors Inc, presented a written proposal seeking an extension to the existing management contract for the Miacomet Golf Course. Mr. Passios summarized the proposal including management history, proposed duration, scope of services and compensation. C. TRANSFER HEARING - Request to Postpone No. 25840 Atsiknoudas: In response to a request from Mr. Atsiknoudas, the Commission agreed to postpone a hearing on its notice of assessment until the next regular meeting to be held on September 27,2005. D. TRANSFER BUSINESS: 1. Transfer Record Nos. 25995 through 26085: The Commission reviewed transfers for the period of August 1,2005, through August 31, 2005. Land Bank Commission September 13,2005 Page 3 2. Nobadeer Farm Road Property - EOEA Alteration Request: The Commission was informed that the Land Bank's request to the office of the Secretary of Environmental Affairs to allow the Land Bank's Nobadeer Farm Road property to be used for ball fields is currently under review at the state and a decision on the request is expected within the week. H. EXECUTIVE SESSION: Upon a motion made and duly seconded, it was VOTED to go into Executive Session. Each member was polled individually. All members voted yes. The Chairman noted that the Commission would reconvene into regular session and that the purpose of going into executive session was to discuss matters related to approval of the minutes and land acquisition. RETURN TO OPEN SESSION I. PROPERTY MANAGEMENT 1. Miacomet Golf 2005 Membership Funds: The Commission revisited management's proposal for the use of funds collected from the 2005 membership offerings. Upon a motion made and duly seconded, it was VOTED to use the revenues collected from membership dues and to reimburse the Land Bank for all existing cash advances made to golf including advances made for operational expenses and interest expenses on the golfloan. Cash advances as of July 31,2005, totaled $675,724. 2. Miacomet Golf Management Agreement/Contract Proposal: The Commission discussed the proposal from Moors Inc. to extend the existing management agreement. No action was taken. ADJOURNMENT: Upon a motion made and duly seconded, it was VOTED to adjourn at 6:15 P.M. Attested to: t-B. ~~ '-i\:U:enB. JZeinha:rd~,'Vice Secretary / Vice Treasurer Accepted, Approved, and Released by the VOTE of the Commission this 27th day of September 2005. TRANSFER BUSINESS Nantucket Land Bank Commission Regular Meeting of September 13, 2005 1. Notice of Assessment - Request to Postpone Transfer Hearing: No. 25840 Angelo Atsiknoudas 2. August Transfers - Record Nos. 25995 through 26085 a. Current "M" Exemptions: No.26005 Mark Wilson, Trustee, Wedidit Nominee Trust No. 26013 Caroline Reilly and Ais1ing L. Glynn No.26060 Richard P. Beaudette and Richelle L. D'Elia No. 26067 Donna Wyland b. Satisfactorily Completed Form Bs Not Provided: No.26022 Rick J. Keebaugh and Nefeli M. Keebaugh No.26034 Toby Abend, Trustee, Wauwinet Trees Realty Trust No.26049 Thomas J. Richards and Marcia R. Richards c. Supplemental Discussion: No.26070 Douglas Abbey and Nancy Abbey, Trustees, Ishmael Trust No. 26079 Ian R.C. Witherby and Frederick R.H. Witherby, Jr. 3. Transfer Update: a. Execution of Authorized Notice of Lien: No. 25156 Robert Driscoll and Laina C. Driscoll