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Home My WebLink About2005-08-24 AGENDA Nantucket Land Bank Commission Regular Meeting of August 24, 2005 Land Bank Meeting Room, 22 Broad Street Nantucket, Massachusetts CALL TO ORDER Minutes of the regular meeting held August 9, 2005. A. CITIZEN BUSINESS/ANNOUNCEMENTS B. PROPERTY MANAGEMENT 1. Miacomet Golf Update (~ lJ l C. TRANSFER BUSINESS jJ I ,'1 -~:J ",:J D. FINANCIAL BUSINESS 1. Monthly Financial Report 2. Warrant Authorization '..) '~".) 151 E. REGULAR BUSINESS 1. Public Notice Review F. PROPERTY MANAGEMENT 1. Property Manager's Update 2. Walker Property BulkheadingIDock Update G. EXECUTIVE SESSION ADJOURNMENT Land Bank Commission August 24, 2005 Page 2 C. PROPERTY MANAGEMENT: 1. Miacomet Golf Course: a. Operations Update: The Director presented an update prepared by Charlie Passios on matters relating to Miacomet Golf Course operations and management and reported that the golf car staging has been completed, golf activity is high and the course is sustaining the increased traffic and new member usage. The Director also presented the newly printed yardage guide for the golf course and provided copies to the Commissioners. b. Quarterly Financial Report: The Director presented the July 2005 Golf Course financials. Upon a motion made and duly noted, it was VOTED to approve the statements as presented. c. Long Range Planning: The Director presented a suggestion from Charlie Passios to begin the process of creating a long-range plan for the renovation of the existing nine holes and the golf club facilities. Upon a motion made and duly seconded, it was VOTED to authorize the completion of the plans for upgrading the existing nine holes. d. Land Bank Maintenance Building: The Commission was informed that the August 24th warrant includes the amount of$12,682.00 to be provided to D. Neil Parent as final payment for services rendered in the design of the Land Bank Maintenance building as previously voted at the August 9,2005, meeting. e. Membership Update: The Director reported that the golf club has recently received a number of inquiries regarding the status of future membership offerings. The Commission determined to ask golf course staff to maintain a mailing list of interested parties for the sole purpose of notifying those persons should an additional membership offering become available in the future. D. FINANCIAL BUSINESS: 1. Monthly Financial Report: The July 2005 financial report was presented to the Commission. 2. Warrant Authorization - Cash Disbursements: Upon a motion made and duly seconded, it was VOTED to execute the August 24, 2005, warrant document in the amount of $90,499.84 to be provided to the county treasurer. E. PERSONNEL ADMINISTRATION: 1. Part-Time Office Assistant: Ms. Hunter reported that Kathryn Hunter, part-time Office Assistant, would be starting a twelve week maternity leave within the coming weeks and that Jesse Miller has been interviewed by staff and is recommended to temporarily fill the position. Upon a motion made and duly seconded, it was VOTED to offer the part-time position to Ms. Miller at $22.00 an hour without benefits for 14 hours per week of contracted employment for the duration of Ms. Hunter's maternity leave beginning September 19,2005. Land Bank Commission August 24, 2005 Page 4 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 land acquisition. RETURN TO OPEN SESSION ADJOURNMENT: Upon a motion made and duly seconded, it was VOTED to adjourn at 5:08 P.M. Attested to: John 1. Accepted, Approved, and Released by the VOTE of the Commission this 13h day of September 2005. Kenneth W. Holdgate, Jr., Ch " TRANSFER BUSINESS Nantucket Land Bank Commission Regular Meeting of August 24, 2005 l. Notice of Assessment Hearing Request: No. 25840 Angelo Atsiknoudas 2. Supplemental Review and Discussion: No. 25951 Kenneth S. Lindsay and Karyn S. Lindsay 3. Transfer Update: a. Satisfactorily Completed Form Bs and/or Additional Information Provided: No. 25931 H. Hanford Smith, III No. 25946 Moby Way LLC No. 25983 John G. Hibshman b. Notice of Assessment Paid: No. 25799 Travis Randall 4. Notice of Assessment Update: No. 25156 Robert Driscoll and Laina C. Driscoll C:\WP60IMINDOCSITRANSFER BUSINESS 05 SHORT.doc MINUTES Nantucket Land Bank Commission Regular Meeting of August 24, 2005 Land Bank Meeting Room, 22 Broad Street Nantucket, Massachusetts CALL TO ORDER: 4:04 P.M. PRESENT: Bartlett, Holdgate, Reinhard, Stackpole. ABSENT: Miller. Minutes of the regular meeting held August 9, 2005: Upon a motion made and duly seconded, it was VOTED to accept, approve, and release the minutes of August 9,2005, as written. A. TRANSFER BUSINESS: 1. Notice of Assessment Hearing Request - No. 25840 Angelo Atsiknoudas: The Commission was informed that Mr. Atsiknoudas' attorney, Michael B. Brodgian, has requested a hearing in connection with Land Bank Notice of Assessment dated July 15,2005. The Commission agreed to schedule a hearing to be held on September 13, 2005. The Commission asked the staff to inform Mr. Brodigan and his client of the hearing date. 2. Supplemental Review and Discussion - No. 25951 Kenneth S. Lindsay and Karyn S. Lindsay: Based upon information provided by Ms. Hunter, the Commission asked staffto request additional information to support the purchasers' claim to the "C" exemption (gift between friends). 3. Transfer Update: a. Satisfactorily Completed Form Bs and/or Additional Information Provided: The Commission found the following transfers to be in order based upon receipt of satisfactorily completed Land Bank Form Bs and/or additional information: No. 25931 H. Hanford Smith, III No. 25946 Moby Way LLC No. 25983 John G. Hibshman b. Notice of Assessment Paid - No. 25799 Travis Randall: Ms. Hunter reported that payment has been received from Travis Randall for the amount of the outstanding fee due plus penalty and interest. Accordingly, the Commission found the matter to be in order. 4. Notice of Assessment Update - No. 25156 Robert Driscoll and Laina C. Driscoll: The Commission executed and authorized the issuance ofa Notice of Lien based upon the purchasers' failure to request a hearing or provide additional information within thirty days of the Notice of Assessment dated July 14,2005. B. CITIZEN BUSINESS/ANNOUNCEMENTS: 1. Cisco Civic Association Donation: The Director reported that a donation has been received from the Cisco Civic Association in the amount of$100.00 in appreciation of the Land Bank's installation of fencing and mowing efforts at its Cisco Beach properties. Land Bank Commission August 24, 2005 Page 3 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: Mr. Perry provided an update on recent property management activities including recent mowing, beach clean-up and fencing projects and reported that there has been a high level of public use at the Land Bank's highly visible properties and parking areas. 2. Equipment Needs Discussion - Mower: Mr. Perry informed the Commission of the department's need for an additional mower and suggested a 10 foot wide, single bat wing, four blade mower priced at approximately $12,000.00. Upon a motion made and duly seconded, it was VOTED to authorize the property manager to purchase the mower from the lowest bidder of at least three responsible dealers. 3. Vehicle Needs Discussion: The Commission revisited a property management request for an additional work vehicle. Mr. Perry recommended that a four-wheel drive, three-quarter ton work van would be best suited to accommodate the multi-purpose departmental needs. The Commission asked the Property Manager to look into acquiring a suitable vehicle from the state or other dealer in the area and to report back at the next meeting. 4. Marble Farm Storage Building Demolition Update: Mr. Perry reported that the Marble Farm storage building has been demolished and removed from the property. 5. Walker Property - Abutter Concerns: The Director summarized a follow-up letter to discussions at the Commission meeting of July 12,2005, from Mr. Bill Barney, abutter to the Walker property (25 Commercial Wharf), reiterating his concerns regarding mooring displacement, increased nighttime dinghy traffic and noise issues and included abutter, Dick Corey's (21 Commercial Wharf) concerns regarding maximum boat size within the proposed slips. The Director also reported on a recent discussion with abutter, Steve Walker, who voiced similar concerns. 6. Walker Property - Improvements Update: The Director informed the Commission that Sullivan Engineering has recommended contracting for services to conduct an eelgrass and essential fish habitat assessment in order to support permitting efforts for the proposed improvements. Upon a motion made and duly seconded, it was VOTED to authorize the Director to contract for services for the survey with ENSR International at a cost of $8,000. 7. Trail Planning / Visible Properties Discussion: Commissioner Reinhard asked for an update regarding the preparation of a priority list for trail planning and management of highly visible Land Bank properties. The Director and Mr. Perry reported that they are still working on the list. ......... .. .......... . . . . . . . . . . .... .... ........... . . . . . . . . . , . ...... . .......... . ......... . ........~ NANTUCKET LAND BANK COMMISSION WORKSHEET UNAUDITED FINANCIAL REPORT as of July 31, 2005 . . ........;-:<.:-:.:.;.;.... . ......... . . . . . . . . . . ......... . STATEMENT OF ACCOUNTS. UNRESTRICTED FUNDS: Nantucket Bank / Operating Fund 01-79-8734 Nantucket Bank / Collection Account 01-79-17653 MMDT / Cash Account 44229979 TOTAL UNRESTRICTED FUNDS: APY 2.11 2.11 3.29 $544,519.74 $11,119,673.82 $5,993,933.67 $17,658,127.23 STATEMENT OF ACCOUNTS. RESTRICTED FUNDS: Debt Service Fund 98E / US Bank Working Capital/Nantucket Bank CD45-2733 due 6/14/06 Miacomet Park / Nantucket Bank CD43-2790 due 1/25/06 Miacomet Park 2000 / Nantucket Bank 79-24361 Marble Reserve / MMDT Account 44250553 Gardner Reserve / MMDT Account 44200442 Smooth Hummocks Management Escrow 790027038 Deutsch Williams Escrow / Citizens Bank Tenant Security Deposits / Nantucket Bank TOTAL RESTRICTED FUNDS: APY 2.62 3.30 3.07 2.12 3.29 3.29 1.66 $7,121.69 $1,121,850.73 $2,416,025.50 $226,437.73 $308,567.11 $145,090.29 $25,430.40 $2,500.00 $1,500.00 $4,254,523.45 BONDS: Principal Outstanding 1998 Series E Issue (Final principal payment 7/1/2019) $10,070,000 (A) Payment Due 1/1/2006 Payment Due 7/1/2006 (C) $246,851.25 (D) $771,851.25 ..... ......... .............. . ........ . ..... . ...... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . NOTES / LOAN: Marble Note #19 Principal Outstanding Payment Schedules Annual Payments $1,700,000 Interest of $25,768.60 due 9th of March, June, Sept, Dec: $103,074.40 $425,000 Interest of $6,906.25 due 30th of Jan, April, July, Oct: $27,625.00 Gardner Shr 19 Note #23 (Trust terminates 6/5106) Golf Course Loan $5,279,053 Principal and Interest of $36,030.05 due Monthly: $432,360.60 TOTAL NOTES/LOAN DEBT: $7,404,053 (B) Total Annual Notes / Loan Payments (E): $563,060.00 .. . . ..... ......... . ........ . ......... ... . . . . . . . . . . . . ......... . TOTAL DEBT (A) & (B): $17,474,053 Total Annual Debt Payments (C) (D) & (E): $1,581,762.50 ....... .... ......... . . . . . . . . . . . ... ....... . . . . . . . . . . . . . . ........ . STATEMNTFY06