The URL can be used to link to this page

Home My WebLink About2005-02-08 AGENDA Nantucket Land Bank Commission Regular Meeting of February 8, 2005 Land Bank Meeting Room, 22 Broad Street Nantucket, Massachusetts CALL TO ORDER Minutes of the regular meeting held January 25,2005. A. CITIZEN BUSINESS/ANNOUNCEMENTS B. PROPERTY MANAGEMENT 1. Miacomet Golf Course C. TRANSFER BUSINESS D. FINANCIAL BUSINESS 1. Monthly Transfer Statistics 2. Warrant Authorization E. PROPERTY MANAGEMENT 1. Property Managers Update F. EXECUTIVE SESSION ADJOURNMENT d '..Jl _...':1. J ." ~.C,,\o 0;) 'Land Bank Commission February 8, 2005 Page 2 e. 2005 Miacomet Golf Course Budget Review: In response to a prior discussion of the proposed 2005 operating budget and the Commission's independent review, upon a motion made and duly seconded, it was VOTED to approve the 2005 Miacomet Golf Course budget as presented. C. TRANSFER BUSINESS: Commissioner Stackpole arrived during Transfer Business. 1. Transfer Record Nos. 25294 through 25423: The Commission reviewed transfers for the period of January 1,2005, through January 31,2005. a. Current "M" Exemptions: The Commission authorized placing liens against the following properties as a result ofthe purchasers claiming the "M" exemption as first time buyers of real property: No. 25320 Leslie-Ann Chumsae and Underwater LLC No. 25324 Robert D. Turner and Megan S. Turner No. 25337 Mark Phillip and Leann Phillip No. 25366 Moirar Leveille and Willy Leveille No.25374 Jason M. Bridges and Amanda Morgan No. 25397 Jesse Dutra No.25400 Bernadette Maglione b. Satisfactorily Completed Form B Not Provided: Staff was asked to seek fully completed Form Bs from the following: No. 25320 Leslie-Ann Chumsae and Underwater LLC No. 25325 Jane L. Gillespie, Trustee ofthe Somerset Nominee Trust No.25332 Catherine E. Conte, Trustee of the Southern Realty Trust No.25333 Christopher R. Abdul-Karim and Kenneth W. Abdul-Karim No. 25337 Margaret H. Blair No.25349 Ellen F. Ballinger No.25352 Wesley E. Finch No. 25357 Peter T. Bell No.25375 Charles P. Landquist, Trustee of the Sandbox Realty Trust No. 25398 Paul A. Morency and JoAnn G. Morency No. 25403 Lisa J. Greenberg No.25410 Donna Christian and Mark Christian No.25421 Mary Claudette Avery Separate Property Trust c. Supplementary Review and Discussion: Staff was asked to seek additional information and/or documentation from the following: No. 25369 Judith G. Belash No.2537l Jonathan Featherstone-Witty, Trustee of the Ironie Nominee Trust No. 25420 Barbara May Bowman "Land Bank Commission February 8, 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 approval of the minutes and land acquisition. RETURN TO OPEN SESSION ADJOURNMENT: Upon a motion made and duly seconded, it was VOTED to adjourn at 6:37 P.M. Attested to: ~iJ4. /C John J. ac 0 e, -ecretary Accepted, Approved, and Released by the VOTE of the Commission this 8th day of March 2005. / TRANSFER BUSINESS Nantucket Land Bank Commission Regular Meeting of February 8, 2005 1. Transfer Record Nos. 25294 through 25423: a. Current "M" Exemptions: No. 25320 Leslie-Ann Chumsae and Underwater LLC No. 25324 RobertD. Turner and Megan S. Turner No. 25337 Mark Phillip and Leann Phillip No. 25366 MoirarLeveille and Willy Leveille No. 25374 Jason M. Bridges and Amanda Morgan No. 25397 Jesse Dutra No. 25400 Bernadette Maglione b. Satisfactorily Completed Form B Not Provided: No. 25320 Leslie-Ann Chumsae, Manager ofthe Underwater LLC, No. 25325 Jane L. Gillespie, Trustee ofthe Somerset Nominee Trust No. 25332 Catherine E. Conte, Trustee ofthe Southern Realty Trust No. 25333 Christopher R. Abdul-Karim and Kenneth W. Abdul-Karim No. 25337 Margaret H. Blair No. 25349 Ellen F. Ballinger No. 25352 Wesley E. Finch No. 25357 Peter T. Bell No. 25375 Charles P. Landqust, Trust of the Sandbox Realty Trust No. 25398 Paul A. Morency and JoAnn G. Morency No. 25403 Lisa J. Greenberg No. 25410 Donna Christian and Mark Christian No. 25421 Mary Claudette Avery Separate Property Trust c. Supplemental Review and Discussion: No. 25369 Judith G. Belash No. 25371 Jonathan Featherstone-Witty, Trustee, Ironie Nominee Trust No. 25420 Barbara May Bowman 2. "M" Exemption Update: a. 2 Year Domicile Requirement Discussion: No. 22564 Lisa Aline Hood b. Release of Lien -Adjustment Paid: No. 20322 Dean R. LaVoie c. Duplicate Release of Lien: No. 18308 Jonathan D. Featherstone-Witty and Dennis W. Simmons 3. Transfer Update: a. Satisfactorily Completed Form B Provided: No. 25278 Robert A. Morgenstern and Samantha Parsons No. 25171 David Barham and Lauri R. Robertson, Trustees of 6 Pine Street Nominee Trust MINUTES Nantucket Land Bank Commission Regular Meeting of February 8, 2005 Land Bank Meeting Room, 22 Broad Street Nantucket, Massachusetts CALL TO ORDER: 4:00 P.M. PRESENT: Holdgate, Miller, Reinhard, Stackpole. ABSENT: Bartlett. Commissioner Stackpole arrived during Transfer Business. Minutes of the regular meeting held January 25, 2005. Upon a motion made and duly seconded, it was VOTED to accept, approve, and release the minutes of January 25, 2005, as written. A. CITIZEN BUSINESS: None B. PROPERTY MANAGEMENT: I. Miacomet Golf Course: a. 2004 Financial Statements: Miacomet Golf Course accountant and golf course financial consultant, Peter Lamb of Burke and Lamb, was in attendance to present the 2004 Financial Statements ending December 31, 2004. Mr. Lamb presented the balance sheet, income statement, cash flow report and schedule of departmental net income and expenses and initiated a discussion followed with questions from the Commission and staff. Upon a motion made and duly seconded, it was VOTED to accept the financials as presented. b. Operations: Alan Costa was present to discuss matters relating to tournament scheduling, bar and restaurant operations and golf play activity. After an additional discussion of 2004 revenue and expenses, projections for 2005 and membership alternatives for the future, the Commission determined to create a sub-committee to review various ideas and proposals in an effort to better support golf operations in the future. Mr. Stackpole and Ms. Miller volunteered to serve on the committee and Mr. Holdgate volunteered to serve as an alternate. c. Membership Request - Brian Pluff: Alan Costa presented a request from Miacomet Golf Course member Brian Pluff to suspend his 2005 membership due to medical reasons. After a discussion and upon a motion made and duly seconded, it was VOTED to approve the request based upon circumstances of extraordinary hardship and to grant Mr. Pluff a one year inactive membership at the cost of $1 00. d. Membership Request - Paul Wycofski: Alan Costa presented a request via electronic correspondence from Miacomet Golf Course member Paul Waickowski to suspend his membership for the period of one year. The Commission asked Mr. Costa to contact Mr. Waickowski for more information regarding the circumstances under whichhe is requesting a suspension. Land Bank Commission February 8, 2005 Page 3 2. "M" Exemption Update: a. 2 Year Domicile Requirement Discussion - No. 22564 Lisa Aline Hood: Ms. Hunter presented a written request from Ms. Hood describing the progress made on the construction of her home and asking that the Commission extend the 2 year domic1e requirement for one year. After a discussion and pursuant to the purchaser's prompt and thorough response to the Commission's inquiry, upon a made motion made and duly seconded, it was VOTED to extend the domic1e requirement until construction is completed. b. Release of Lien Adjustment Paid - No. 20322 Dean R. LaVoie: Upon a motion made and duly noted, it was VOTED to authorize the issuance ofa Release of Lien for Record No. 20322 as full payment of the fee, penalty and interest has been received. c. Duplicate Release of Lien - No. 18308 Jonathan D. Featherstone-Witty and Dennis W. Simmons: Upon a motion made and duly noted, it was VOTED to authorize the issuance of a duplicate Release of Lien for Record No. 18308. 3. Transfer Update: a. Satisfactorily Completed Form B Provided: Based upon the information and/or documentation provided the Commission found the following transfers to be in order. No. 25278 Robert A. Morgenstern and Samantha Parsons No. 25171 David Barnham and Lauri R. Robertson, Trustees of 6 Pine Street Nominee Trust D. FINANCIAL BUSINESS: 1. Monthly Transfer Statistics: Ms. Hunter presented the transfer statistics through January 31, 2005. 3. Warrant Authorization - Cash Disbursements: Upon a motion made and duly seconded, it was VOTED to approve and execute the February 8, 2005, warrant document in the amount of $88,757.68 to be provided to the county treasurer. E. PROPERTY MANAGEMENT: 1. Property Manager's Update: Mr. Perry provided a brief update on recent activities during the special February hunting season. F. REGULAR BUSINESS: 1. Commission Meeting Cancellation - February 22, 2005: Upon a motion made and duly seconded, it was VOTED to cancel the regularly scheduled meeting of February 22, 2005, due to a lack of quorum. MONTHLY TRANSFER STATISTICS FISCAL YEAR 2004 FY04 Month Jul-03 Aug-03 Sep-03 Oct-03 Nov-03 Dec-03 Jan-04 Feb-04 Mar-04 Apr-04 May-04 Jun-04 . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . :THRlJJ,~N:Af ::: Average Low High Total Exempt Taxable Total Gross Transfers Transfers Transfers Value 83 91 122 152 82 148 120 82 84 115 117 134 53 56 29 50 32 97 64 47 49 59 64 60 30 35 93 102 50 51 56 35 35 56 53 74 $35,826,437 $43,090,749 $123,432,615 $151,386,182 $48,058,800 $53,214,896 $79,888,337 $38,149,238 $33,101,234 $72,545,634 $79,316,822 $100,564,874 :::::7:$~:::::::::::::::::::::$~:1:::::;::;::::::::::4:17:: .... 111 82 152 55 29 97 56 30 102 :::.:$$$4:;$P?;Q~$ $71,547,985 $33,101,234 $151,386,182 MONTHLY TRANSFER STATISTICS FISCAL YEAR 2005 Gross Value Taxable $35,546,437 $41,574,943 $122,782,615 $150,186,182 $47,658,800 $49,771,734 $77,247,707 $37,749,238 $30,163,300 $68,241,190 $77,716,822 $96,964,874 :::;:::$$.~4/t:$.. $:;41. )H: ....... .... -. .... .... $69,633,654 $30,163,300 $150,186,182 Revenue Received $762,957 $838,497 $2,459,652 $3,006,724 $968,412 $999,435 $1,544,954 $752,985 $609,766 $1,366,824 $1,560,086 $1,943,297 .................... . ........$. ....0. "'0.'8. ......6. ........ ..... ,. . . . . . . ... . . . ..... . .. .. ;:;:;:;: :1:: >. . . 0:: . 3:1: :::::::::';::':'::~::':"::'::~:::":::' : $1 ,401 ,132 $609,766 $3,006,724 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 $137,029,392 $135,626,725 $2,749,981 Feb-05 Mar-05 Apr-05 May-05 Jun-05 .......,. , .........." .... ,', : :T:HF,ty ~A:~:~?:::::: Average Low High MONTHL Y . . . . . . . . . }::e15}:: ......... .. ........ . 125 83 176 . . ':400 i: :<:<.. 475 . .... : ... ... :. $799 '23~l648. .::::' '$751 :529.398: . '.::: $15"456 370 . , . . .;. ", " ,', :. ..: . ,', .::t. " t," . . .:. .. ..' . .,~ .. _ '. :',.,...:,.. . ,:' , 57 68 $114,177,093 $107,361,343 $2,208,053 28 42 $59,176,066 $56,285,180 $1,125,704 112 100 $188,678,425 $163,378,425 $3,633,009 UNAUDITED