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Home My WebLink About2006-12-12 AGENDA Nantucket Land Bank Commission Regular Meeting of December 12, 2006 Land Bank Meeting Room, 22 Broad Street Nantucket, Massachusetts CALL TO ORDER Minutes of the regular meeting of November 14, 2006 d C'l A. CITIZEN BUSINESS/ANNOUNCEMENTS C-:J ::-:J B. TRANSFER HEARING DECISION No. 26947, Bruce H. Poor No. 26977, Bruce A. Issadore, John Englert, Thomas M. Sobol and Meredith L. SObol, tenants in common:.:) w Unreported transfer of control when Andrew Kay was added as manager, Hedgeoury Lane, LLC and Harold B. Murphy and Lauren C. Murphy, Trustees of ECD Realty Trust r-..J -,J C. TRANSFER BUSINESS D. FINANCIAL BUSINESS 1. Monthly Transfer Statistics 2. Warrant Authorization - Cash Disbursements 3. Warrant Authorization - Series E Semi-Annual Bond Payment 4. Bond Financing Discussion E. REGULAR BUSINESS 1. Public Notices Review 2. Scheduling For Upcoming Meetings F. PROPERTY MANAGEMENT 1. Gaillard Property - Lease Extension Request 2. Lily Pond Property - Blair House Update 3. Ottison Property - Tenant Correspondence EXECUTIVE SESSION ADJOURNMENT ,e., ) Land Bank Commission December 13,2005 Page 2 No. 27502 Gregorio Partida and Grasiela V. Partida No. 27529 Mercedes Ramirez 2. Transfer Update: a. Satisfactorily Completed Form B or Documentation Provided - No. 26281 Robert S. Talbot: Based upon the documentation provided the Commission found the transfer to be in order. b. Transfer Inquiry Compliance - No. 27239 Nanahumacke Preserve Homeowner's Association Trust: Based upon the information and documentation provided by the purchaser's attorney, the Commission found the transfer to be in order. c. Release of Lien Adjustment Pending - No. 25192 H. Gordon Kennedy and Ellen A. Mackenzie: The Commission executed and authorized the issuance ofa Release of Lien to be provided to the purchasers upon receipt of full payment of the outstanding fee, penalty and interest. 3. "M" Exemption Update: a. Release of Lien Adjustment Paid - No. 24942 Luke A. Tedeschi and Laura M. Tedeschi: Based upon the Commission vote on November 14,2006, and receipt of payment ofthe outstanding fee, the Commission authorized the issuance of a Release of Lien.. D. FINANCIAL BUSINESS: 1. Monthly Transfer Statistics: The November 2006 transfer statistics were presented. 2. Warrant Authorization - Cash Disbursements: Upon a motion made and duly seconded, it was VOTED to execute the December 12,2006, warrant document in the amount of$109,186.39 to be provided to the county treasurer. 3. Warrant Authorization - Series E Semi-Annual Bond Payment: Upon a motion made and duly seconded, it was VOTED to execute the December 12,2006, Series 98E Semi-Annual Bond Interest Payment warrant to be provided to the county treasurer in the amount of$235,432.50. 4. Cingular Wireless Bill Discussion: The Director reported that Cingular Wireless cell phone (508) 332-9862 had been stolen and had incurred charges during the November billing period. Staff was asked to report it to the police department and to follow-up with Cingular wireless in an attempt to mitigate the cost to the Land Bank. 5. Bond Financing Discussion: The Commission continued discussions regarding options for funding through the issuance of bonds. Upon a motion made and duly seconded, it was VOTED to ask the Selectman to submit an article for consideration at the April Town Meeting requesting full faith and credit backing of the Town of Nantucket for the issuance of a proposed thirty million dollar Land Bank bond. E. REGULAR BUSINESS: MONTHLY TRANSFER STATISTICS CALENDAR 2005 CAL05 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-05 131 48 83 $170,977,147 $155,677,147 $3,113,343 Oct-05 120 35 85 $176,148,013 $171,285,209 $3,429,117 Nov-05 91 48 43 $75,391,500 $74,591,500 $1,495,630 Dec-05 148 110 38 $79,616,375 $65,841,375 $1,335,445 .................... . ..........................V.............. :"THRU~NO.',05<< . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Average Low High ........... . .....1. ......3..4...... ..... ... /.;1:) ........... . 107 83 148 .. :/52ff? . .d3.d~f: ... ....... 53 54 35 37 110 85 ::::':::$t,.1:ii$~i:$~,$:~ffi:::::::::$:~:;P7$;:~1:4;$?~::::::,':,$.?:~.;~~q~$4P:: $99,817,751 $43,249,759 $176,148,013 MONTHLY TRANSFER STATISTICS CALENDAR 2006 CAL06 Month Jan-06 Feb-06 Mar-06 Apr-06 May-06 Jun-06 Jul-06 Aug-06 Sep-06 Oct-06 Nov-06 Dec-06 Total Exempt Taxable Transfers Transfers Transfers 106 87 104 78 96 79 66 75 76 97 90 59 54 63 44 50 39 34 49 37 58 50 47 33 41 34 46 40 32 26 39 39 40 .......... .................. :::~:THRqN~\i~::.:.:.....:~:.~'~54:::::....,~.....:.:.937:::':,.'... :.:...' .,417, Average 87 49 38 Low 66 34 26 High 106 63 47 MONTHL Y Total Gross Value $105,705,774 $52,792,786 $81,793,500 $73,440,925 $91,696,267 $78,671,608 $65,734,501 $48,890,581 $107,911,581 $91,989,800 $82,332,701 ..................... . .................... . . . .'(t'O'S. 0..."9' 6."0. "0' .:()'3..:':" .. ~~~.;-:::~.:-:::;;.:i:::~:;.nn~ $80,087,275 $48,890,581 $107,911,581 $95,479,683 $42,599,759 $171,285,209 Gross Value Taxable $104,705,774 $51,532,000 $80,393,500 $69,424,975 $90,991,600 $77,871,608 $64,334,501 $46,838,137 $106,311,581 $77,540,800 $80,332,701 ..................... . .......$. .8. .5. O. ...2..1. .7. ..1. .7. 7. . ... . . ... .... ... ..... . .. .. . . .. . . . . . . . . .. ...... .... ... ....... :::::::. .:-.:.-:.:.;:.....::.::i:.::.::.:: $77,297,925 $46,838,137 $106,311,581 $1,917,999 $853,995 $3,429,117 Revenue Received $2,094,115 $1,038,640 $1,607,870 $1,388,500 $1,821,832 $1,557,432 $1,286,690 $938,763 $2,137,232 $1,558,816 $1,610,654 .........$.................................. ..... .... ... ........ .17..04.0..54. 4. ... .... . . .. . .. .... . .. ... . . . . . .. .. .. . . . . ::::::;:: :::.:.::?::-::.::::~<.:::::.::: $1,549,140 $938,763 $2,137,232 UNAUDITED MINUTES Nantucket Land Bank Commission Regular Meeting of December 12, 2006 Land Bank Meeting Room, 22 Broad Street Nantucket, Massachusetts CALL TO ORDER: 4:00 P.M. PRESENT: Bartlett, Holdgate, Johnson, Reinhard. ABSENT: Stackpole Minutes of the regular meeting held November 14, 2006. Upon a motion made and duly seconded, it was VOTED to accept, approve, and release the minutes of November 14,2006, as written. A. CITIZEN BUSINESS/ANNOUNCEMENTS: None. B. TRANSFER HEARING DECISION: No. 26947 Bruce H. Poor No. 26977 Bruce A. Issadore, John Englert, Thomas M. Sobol and Meredith L. Sobol, tenants in common Unreported transfer of control when Andrew Kaye was added as manager, Hedgebury Lane, LLC and Harold B. Murphy and Lauren C. Murphy, Trustees ofECD Realty Trust Pursuant to the requirements of Massachusetts General Court Acts of 1983, Chapter 669 (the "Act"), as amended, Section 14 (a), after a hearing held at 4:00 P.M., Tuesday, November 14,2006, and continued to 4:00 P.M., Tuesday, November 28, 2006, at the Land Bank meeting room, 22 Broad Street, Nantucket and a review of the proposed decision and determination prepared by Valerie Swett, Esq., legal counsel to the Nantucket Land Bank Commission, the Commission entered a decision and determination. Upon a motion made and duly seconded, it was VOTED that the Decision and Determination as presented are consistent with the instructions provided to counsel by the Commission and therefore it was accepted as presented. A copy of the signed Decision and Determination shall be attached to the minutes of this meeting and incorporated therein by reference. The vote was unanimous. Although present, Commissioner Philip Bartlett did not participate in the hearing decision because he was not present at the November 14,2006, hearing commencement. C. TRANSFER BUSINESS: 1. Transfer Record Nos. 27440 through 27528: The Commission reviewed transfers for the period of November 1,2006, through November 30, 2006. a. Current "M" Exemptions: The Commission authorized placing liens against the following as a result of the purchasers claiming the "M" exemption as first time buyers of real property. No. 27444 Jennifer L. Eldridge No. 27458 William A. Willauer No. 27491 David G. Wain and Donovan Kerr Land Bank Commission December 12, 2006 Page 3 1. Public Notice Review: The Director reviewed public notices received since the last review. No action was taken. 2. Scheduling for Upcoming Meetings: The Commission discussed the December and January meeting schedule and agreed that it would be beneficial to hold an additional monthly meeting for .discussion of golf course matters. F. PROPERTY MANAGEMENT: 1. Gaillard Property - Lease Extension Request: The Director presented a request from Michael Gaillard to extend his lease with the Land Bank for an additional six months. Upon a motion made and duly seconded, it was VOTED to extend the Gaillard lease to October 31, 2007, subject to the Mr. Gaillard allowing Land Bank access to the property. 2. Lily Pond Property - Blair House Update: The Director informed the Commission that the Land Bank's move-on and move-off applications for the Blair and Hemeon houses at the Lily Pond property were approved by the Historic District Commission. 3. Ottison Property - Tenant Correspondence: The Director presented correspondence from Karl Ottison informing the Commission that there had been surveyors at the property on November 13,2006, gathering information for the Town of Nantucket in connection with town drainage improvement efforts. 4. 2006 Annual Smooth Hummocks Advisory Committee Meeting: Bruce Perry invited the Commission to attend the annual Smooth Hummocks Advisory Committee (S.H.A.C.) meeting at 9:30 A.M., on Wednesday, December 13,2006. Mr. Perry stated that management, monitoring and funding compliance would be discussed. 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 minutes and land acquisition. RETURN TO OPEN SESSION ADJOURNMENT: Upon a motion made and duly seconded, it was VOTED to adjourn at 5:45 P.M. Attested to: it ~~ Accepted, Approved, and Released by the (oTf of the Commission this 26th day of December 2006. TRANSFER BUSINESS Nantucket Land Bank Commission Regular Meeting of December 12, 2006 1. Transfer Hearing Decision: No. 26947 Bruce H. Poor No. 26977 Bruce A. Issadore, John Englert, Thomas M. Sobol and Meredith L. Sobol, tenants in common Unreported transfer of control when Andrew Kaye was added as manager, Hedgebury Lane, LLC and Harold B. Murphy and Lauren C. Murphy, Trustees of ECD Realty Trust 2. Transfer Hearing Request: No. 24281 Carol A. Surface 3. November Transfers - Record Nos. 27440 through 27528: a. Current "M" Exemptions: No. 27444 Jennifer L. Eldridge No. 27458 William A. Willauer No. 27491 David G. Wain and Donovan Kerr No. 27502 Gregorio Partida and Grasiela V. Partida No. 27529 Mercedes Ramirez 4. Transfer Update: a. Satisfactorily Completed Form B or Documentation Provided: No. 26281 Robert S. Talbot b. Transfer Inquiry Compliance No. 27239 Nanahumacke Preserve Homeowner's Association c. Release of Lien - Adjustment Pending: No. 25192 H. Gordon Kennedy and Ellen A. Mackenzie 5. "M" Exemption Update: a. Release of Lien - Adjustment Paid: No. 24942 Luke A. Tedeschi and Laura M. Tedeschi