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Home My WebLink About2005-05-10 AGENDA Nantucket Land Bank Commission Regular Meeting of May 10, 2005 Land Bank Meeting Room, 22 Broad Street Nantucket, Massachusetts d V1 CALL TO ORDER Minutes of the special meeting held April 26, 2005. I'J 0\ u A. CITIZEN BUSINESS/ANNOUNCEMENTS '....;..,' \.0 B. PROPERTY MANAGEMENT 1. Miacomet Golf Course C. TRANSFER BUSINESS D. FINANCIAL BUSINESS I. Monthly Transfer Statistics 2. Warrant Authorization E. REGULAR BUSINESS I. Public Notice Review F. PROPERTY MANAGEMENT I. Somerset Farm Property - Bikepath Discussion 2. Woodworth Property Discussion 3. Walker Property Discussion 4. Carter Property Discussion 5. Burchell Property Discussion 6. Latici Property Discussion 7. Cisco Beach Property - Use Request G. EXECUTIVE SESSION ADJOURNMENT Land Bank Commission May 10,2005 Page 2 C. TRANSFER BUSINESS: 1. Transfer Record Nos. 25602 through 25690: The Commission reviewed transfers for the period of April 1, 2005, through April 30, 2005. a. 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. 25622 Edward A. O'Brien and Elizabeth Y. Hunt No. 25623 Mary Jeanne Wynn No. 25629 Graham N. Burton and Lu Ann M. Burton No. 25671 Seubsiri Thairatana, Panuwatara Thairatana, and Maturod Thairat No. 25672 Leslie Woodson and Jessica Sosebee No. 25680 Cormac S. Collier b. Supplemental Review and Discussion: Staff was asked to seek additional information and/ or documentation from the following: No. 25619 Kathleen M. Williams No. 25653 Manuel A. Martin and Bethany L. Thibault c. Supplemental Staff Report and Review - No. 25603 Nicholas Ruisi: Ms. Hunter reported that the check presented for payment of the fee due on No. 25603 has been returned by the bank unpaid. Staff was asked to continue efforts to recover payment and to seek additional information regarding the stated purchase price. 2. Transfer Update: a. Satisfactorily Completed Form B and/or Additional Documentation Provided: Based upon the information and/or documentation provided by the purchasers' representative, the Commission found the following transfers to be in order: No. 25421 Mary Claudette Avery Separate Property Trust No. 25469 Portia L. Stephens D. FINANCIAL BUSINESS: 1. Monthly Transfer Statistics: Ms. Hunter presented transfer statistics through April 30, 2005. 2. Warrant Authorization - Cash Disbursements: Upon a motion made and duly seconded, it was VOTED to approve and execute the May 10, 2005, warrant document in the amount of $72,569.62 to be provided to the county treasurer. E. REGULAR BUSINESS: 1. Public Notice Review: The Director presented public notices received since the last meeting. No action was taken. Land Bank Commission May 10, 2005 Page 4 G. 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 5:55 P.M. John. Attested to: Accepted, Approved, and Released by VOTE of the Commission this 24th day of May 2005. Kenneth W. Holdgate, Jr., 2 1 . TRANSFER BUSINESS Nantucket Land Bank Commission Regular Meeting of May 10, 2005 1. Transfer Record Nos. 25602 through 25690: a. Current "M" Exemptions: No. 25622 Edward A. O'Brien and Elizabeth Y. Hunt No. 25623 Mary Jeanne Wynn No. 25629 Graham N. Burton and Lu Ann M. Burton No.25671 Seubsiri Thairatana, Panuwatara Thairatana, and Maturod Thairat No. 25672 Leslie Woodson and Jessica Sosebee No. 25680 Cormac S. Collier b. Supplemental Review and Discussion: No. 25603 Nicholas Ruisi No. 25619 Kathleen M. Wiliams No. 25653 Manuel A. Martin and Bethany L. Thibault 2. Transfer Update: a. Satisfactorily Completed Form Bs Provided: No. 25421 Mary Claudette Avery Separate Property Trust No. 25469 Portia L. Stephens MINUTES Nantucket Land Bank Commission Regular Meeting of May 10, 2005 Land Bank Meeting Room, 22 Broad Street Nantucket, Massachusetts CALL TO ORDER: 4:00 P.M. PRESENT: Bartlett, Holdgate, Miller, Reinhard, Stackpole. Commissioner Stackpole joined the meeting for Executive Session. Minutes of the regular meeting held April 26, 2005: Upon a motion made and duly seconded, it was VOTED to accept, approve, and release the minutes of April 26, 2005, as written. A. CITIZEN BUSINESS: None B. PROPERTY MANAGEMENT: 1. Miacomet Golf Course: a. Land Bank: Maintenance Building: Mr. Passios provided an update regarding the completion of the Land Bank: maintenance buildings. b. Warrant Authorization - NMP Golf Construction Company: Based upon a recommendation by Mr. Passios, upon a motion made and duly seconded, it was VOTED to approve final payment to NMP and execute the May 11, 2005, warrant document in the amount of $6,750.00 to be provided to the county treasurer. c. Warrant Authorization - Request for Cash Advance: Pursuant to the operating agreement between the Nantucket Land Bank: and Moors Inc. for management of the Miacomet Golf Course, Mr. Passios requested a $200,000 cash advance for operating capital to cover net losses to date. Upon a motion made and duly seconded, it was VOTED to approve the request and to execute the May 11,2005, warrant document in the amount of $200,000 to be provided to the county treasurer. Mr. Passios reports that the losses are primarily due to inclement weather over the past four weekends. d. Management Operations Update: Mr. Passios provided an update on golf, restaurant and bar activities over the past few weeks. e. New Membership Discussion: The Commission continued discussions regarding the implementation of new memberships. Upon a motion made and duly seconded, it was VOTED to continue consideration of the options until the next regular meeting when Mr. Passios will provide a recommendation and Land Bank: staff will report back with information from counsel. f. Capital Improvements: Mr. Passios presented a report detailing capital improvements and management needs which he feels need to be accomplished including electrical work at the golf car staging area, exterior clubhouse renovations, septic system upgrade, heating system replacement at the administrative building, driving range development and course improvements at the "old nine" holes, golf car paths upgrades and the purchasing of certain capital equipment items. Land Bank Commission May 10,2005 Page 3 F. PROPERTY MANAGEMENT: 1. Somerset Farm Property - Bikepath Discussion: The Director presented an "intersection improvement and sidewalk concept plan" prepared by Blackwell and Associates for a proposed bikepath from the Somerset Road intersection down West Miacomet Road to the golf course parking area. Upon a motion made and duly seconded, it was VOTED to accept the plan as prepared and to authorize the Director to seek bids for performance of the work. 2. Woodworth Property Discussion: The Commission approved plans presented by Mr. Perry to create a parking area at the Land Bank's Woodworth property including bringing in hardener, grading and installing substantial fencing to designate the parking area, access. and egress. 3. Walker Property Discussion: Mr. Perry presented updated conceptual plans prepared by Sullivan Engineering illustrating options for the restoration and upgrading of the Walker property including bulkhead construction and realignment, dredging, float, ramp, dinghy docks, slips, davit and platform locations. Staff was asked to convey the Commission's general approval of the concepts and to present their concerns or considerations to Pete Sullivan at Sullivan Engineering. In addition, staff was asked to move ahead with the design and permitting process, to seek abutter input and to revisit the matter at the next meeting. 4. Carter Property Discussion: Mr. Perry presented updated conceptual plans for upgrading the existing bulkhead, bulkhead extension, beach nourishment and stair replacement at the Carter property. The Commission approved the schematic design labeled "preferred Jelleme solution" which includes extending the bulkhead across Land Bank property on to property owned by the abutter Carl Jelleme. 5. Burchell Property Discussion: Mr. Perry presented plans for the designation of the proposed life estate area, "work area", parking area and trails at the Land Bank's Burchell property. After a discussion, it was decided to accept the plans as presented subject to locating the parking area away from the life estate, down the roadway past the existing Heyer house. 6. Latici Property Discussion: Director Savetsky informed the Commission that the Laticis have been unable to complete the upgrade of the septic system at the dwelling at the property. The Commission determined to take no action at this time and to revisit the matter in one year. 7. Cisco Beach Property - Use Request: The Commission approved a request from Gary Kohner, Nantucket Island Surf School, to lease a portion ofthe Land Bank's Cisco Beach Property to rent surfboards and provide surfing lessons subject to Mr. Kohner's obtaining acceptable indemnification and insurance protection for the Nantucket Land Bank, all students and board renters signing hold-harmless agreements and Mr. Kohner providing stewardship at the property by performing daily cleanups at the parking and beach area. Lease term shall be one year; lease amount shall be $2,500. Commissioner Stackpole joined the meeting. MONTHLY TRANSFER STATISTICS FISCAL YEAR 2004 FY04 Total Exempt Taxable Total Gross Gross Revenue Month Transfers Transfers Transfers Value Value Taxable Received Jul-03 83 53 30 $35,826,437 $35,546,437 $762,957 Aug-03 91 56 35 $43,090,749 $41 ,574,943 $838,497 Sep-03 122 29 93 $123,432,615 $122,782,615 $2,459,652 Oct-03 152 50 102 $151,386,182 $150,186,182 $3,006,724 Nov-03 82 32 50 $48,058,800 $47,658,800 $968,412 Dec-03 148 97 51 $53,214,896 $49,771,734 $999,435 Jan-04 120 64 56 $79,888,337 $77,247,707 $1,544,954 Feb-04 82 47 35 $38,149,238 $37,749,238 $752,985 Mar-04 84 49 35 $33,101,234 $30,163,300 $609,766 Apr-04 115 59 56 $72,545,634 $68,241,190 $1,366,824 May-04 117 64 53 $79,316,822 $77,716,822 $1,560,086 Jun-04 134 60 74 $100,564,874 $96,964,874 $1,943,297 :mH@:~~~P4 Average Low High . . . . . . . . . , '. :Jqt~: 111 82 152 ::::::::':::::::536,::...... :::':::,::$43:: 55 56 29 30 97 102 .. :::::::$$t$:;$q41'1~$.::::,:::::$~qi,$g?:;:1.~::::::':':::,:$1:~;~1:P',$.P~ $71,547,985 $69,633,654 $1,401,132 $33,101,234 $30,163,300 $609,766 $151,386,182 $150,186,182 $3,006,724 MONTHLY TRANSFER STATISTICS FISCAL YEAR 2005 FY05 Total Exempt Taxable Total Gross Gross Revenue Month Transfers Transfers Transfers Value Value Taxable Received Jul-04 100 55 45 $73,444,580 $56,285,180 $1,125,704 Aug-04 83 41 42 $59,176,066 $58,161,216 $1,171,774 Sep-04 135 46 89 $154,331,770 $153,331,770 $3,066,635 Oct-04 161 61 100 $188,678,425 $163,378,425 $3,633,009 Nov-04 90 28 62 $90,528,833 $89,928,833 $1,808,922 Dec-04 176 112 64 $96,050,582 $94,817,249 $1,900,345 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 $1,007,699 May-05 Jun-05 .............. . :tHRPAW~P.~:, ... Average Low High . . . . . . . . . . . . . . , :::::::::55:1::'::: 55 28 112 5~1>': ........ . ........ . 59 37 100 :::::::::::$....:9.::6:.::1:.::6..:4.:..5.:..3.:.:0.:.2..::.::::::::$...9:.::1..:0.::::8:..7...5:.:::0...:5.:2....:::::::::::::.$....1..:8:..:6..::6..:9:..::3:.:0...3:.:: ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~;.: ~.;::::\:. ~i:::;:.;.; ;~;:: ~.;:;:; ~ ~ ~ ~ ~ ~j! j ~...;:: ~;. ~.;. ~~::::: ~::: j~. ~.~:::;:; ~ ~~! ~ ~ ~ ~ ~ ~ ~ ~~ ~:.. ~ ~: ~:::~;.::::;.;. ~ ~::;;.;:: ~ $96,164,530 $91,087,505 $1,866,930 $43,249,759 $42,599,759 $853,995 $188,678,425 $163,378,425 $3,633,009 MONTHL Y UNAUDITED