HomeMy WebLinkAbout2006-06-27
AGENDA
Nantucket Land Bank Commission
Regular Meeting of June 27, 2006
Land Bank Meeting Room, 22 Broad Street
Nantucket, Massachusetts
CALL TO ORDER
Minutes of the regular meetings held June 13, 2006
A. CITIZEN BUSINESS/ANNOUNCEMENTS
B. TRANSFER BUSINESS
C. PROPERTY MANAGEMENT
1. Miacomet Golf Update
2. Somerset Road Sidewalk Project Discussion
D. FINANCIAL BUSINESS
1. Monthly Financial Report
2. Warrant Authorization - Cash Disbursements
3. Warrant Authorization - Series E Semi-Annual Bond Payment
E. REGULAR BUSINESS
1. Public Notice Review
2. Housing Bank Legislation Discussion
3. Land Bank Logo Design Discussion
F. PROPERTY MANAGEMENT
1. Property Supervisor's Update
2. Somerset Farm Property - Barn Discussion
3. Gardner Property - Marble Cottage Discussion
4. Dias/Pilot Whale Drive Property - Encroachment Issue
5. Norwood Farm Trust Property - Encroachment Issue
6. Apthorpe Property- Use Request
7. Eel Point Road Association - Road Maintenance Funding Request
8. Myrick Property - Trail Discussion
EXECUTIVE SESSION
ADJOURNMENT
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Nantucket Land Bank
June 27, 2006
Page 2
d. Nantucket High School Golf Team Proposal: Mr. Passios suggested extending
privileges to the Nantucket High School Golf Team during their competitive season only including
free range balls, involvement with the Nantucket Golf Academy and free access to the course for
team members and up to two coaches. Upon a motion made and duly seconded, it was VOTED to
approve the proposal presented subject to restrictions deemed appropriate by management.
2. Somerset Road Sidewalk Discussion: The Director reported that after follow-up
discussions with the bidders, which were conducted in an effort to determine cost comparisons for
providing equal services, the proposals submitted are as follows:
Victor-Brandon Corp.
Glowacki Paving
Lawrence Lynch
$108,887
$133,000
$178,700
After a discussion, upon a motion made and duly seconded, it was VOTED to award the contract to
Glowacki Paving as the lowest responsive and responsible bidder.
D. FINANCIAL BUSINESS:
1. Monthly Financial Report: The May 2006 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 June 27, 2006, warrant document in the amount of$61,275.85 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 approve payment and to authorize staff to wire the Series E semi-
annual bond payment of interest and principal in the total amount of $771,851.25 from the Land
Bank's Collection Account to the Bond Trustee at U.S. Bank.
E. REGULAR BUSINESS:
1. Public Notice Review: The Director reviewed public notices received since the last
reVIew. No action was taken.
2. Housing Bank Legislation Discussion: Leedara Zola of the Nantucket Housing Office
was present to provide an update on Senate Bill No. 2555, recently engrossed by the Senate and
currently before the House, which if passed would create a Nantucket Community Housing Bank
funded by a 1 % seller paid transfer fee.
3. Land Bank Logo Design Discussion: The Director reported that he has spoken with Rob
Johnson and that Mr. Johnson presented a proposal to update and improve the Land Bank logo at a
cost of $2,500. After a discussion, upon a motion made and duly seconded it was VOTED to accept
the proposal if the Commission does not select a design submitted by Tony Leone, pursuant to the
Commission's vote on June 13,2006, and subject to the approval of Land Bank counsel to contract
for services with Mr. Johnson, a relative of Commissioner Leslie Johnson.
Ms. Johnson abstained.
Nantucket Land Bank
June 27, 2006
Page 3
F. PROPERTY MANAGEMENT:
I. Property Supervisor's Update: Jeffrey Pollock provided an update on recent property
management activities at the Land Bank's Stone, Walker, Rand and Eel Point Road properties.
2. Somerset Farm Property - Barn Discussion: Mr. Pollock informed the Commission of a
recent discussion with Historic District Commission (HDC) Administrator Mark Voight regarding
the future of the barn. Based upon representations made by Mr. Voight, upon a motion made and
duly seconded, it was VOTED to come up a plan to renovate barn.
3. Gardner Property - Marble Cottage Discussion: The Director sought input from the
Commission regarding the proposed addition at the Marble Cottage. Upon a motion made and duly
seconded, it was VOTED to seek design services to produce conceptual plans in order to determine
cost estimates for the project.
4. Dias / Pilot Whale Drive Property - Encroachment Issue: Mr. Perry presented photos and
a detailed account of continued encroachment activity by the abutter Richard Travaglione which
included the removal of trees and shrubs, the installation of an 8' by 40' retaining wall, the creation
of a pond and extensive mowing on Land Bank property despite repeated conversations and
warnings from Mr. Perry and the Director. Upon a motion made and duly seconded, it was VOTED
to hire an attorney to file a temporary restraining order against Mr. Travaglione and to pursue
initiating a civil lawsuit in order to collect damages for restoration of the property.
5. Norwood Farm Trust Property - Encroachment Issue: The Director provided a detailed
history of encroachment activity by abutter Robert Cirillo including the removal of Land Bank
fencing, the mowing of trees and brush and the installation of utility lines on Land Bank property.
Mr. Savetsky also presented settlement terms proposed by Mr. Cirillo through his attorney, Rhoda
Weinman. After a discussion, upon a motion made and duly seconded, it was VOTED to have the
property surveyed in order to definitively locate the utility lines and to ask that the fence, trees and
shrubs be replaced.
6. Apthorpe Property - Use Request: The Director presented a request from Kylie Mann to hold
a brief wedding ceremony for approximately 125 people at the Apthorpe property on October 14,2006,
at 3 P.M. Set-up would include 10 chairs for the elderly and decorative flowers. Upon a motion made
and duly seconded, it was VOTED to approve the request as presented and to ask the Director to inform
the abutters of the event.
7. The Director presented a request from the Eel Point Road Association seeking funds for
maintenance of Eel Point Road. Upon a motion made and duly seconded, it was VOTED to
authorize a donation to the association in the amount of $500.
8. Myrick Property - Trail Discussion: Upon a motion made and duly seconded, it was VOTED
to authorize property management staff to create a trail system at the property and to include access
from Miacomet Road, South Shore Road and Sherburne Common.
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NANTUCKET LAND BANK COMMISSION WORKSHEET
UNAUDITED FINANCIAL REPORT as of May 31, 2006
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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
3.67
3.72
5.04
$324,309.52
$2,284,120.10
$14,874,376.36
$17,482,805.98
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STATEMENT OF ACCOUNTS. RESTRICTED FUNDS:
Miacomet Park / Nantucket Bank CD43-2790 due 7/25/06
Miacomet Park 2000 / Nantucket Bank 79-24361
Debt Service Fund 98E / US Bank
Working Capital/Nantucket Bank CD45-2733 due 6/14/06
Marble Reserve / MMDT Account 44250553
Gardner Reserve / MMDT Account 44200442
Tenant Security Deposits / Nantucket Bank
Deutsch Williams Escrow / Citizens Bank
Smooth Hummocks Management Escrow 790027038
TOTAL RESTRICTED FUNDS:
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APY
4.07
3.70
4.38
3.30
5.04
5.04
$2,485,843.03
$231,779.63
$7,679.03
$1; 152,487.67
$319,514.22
$150,237.71
$1,500.00
$264,444.07
$25,914.60
:$4,639,399.96
2.69
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BONDS:
Principal
Outstanding
1998 Series E Issue $10,070,000 (A)
(Final principal payment 7/1/2019)
Payment Due
7/1/2006
(C) $771,851.25
Payment Due
111/2007
(D) $235,432.50
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NOTES / LOAN:
Marble Note #19
Principal
Outstanding
$1,700,000
Payment Schedules Annual Payment!!
Interest of $25,768.60 due 9th of March, June, Sept, Dec: $103,074.40
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Gardner Shr 19 Note #23
(Trust terminates 6/5/06)
$425,000 Interest of $6,906.25 due 30th of Jan, April, July, Oct:
$27,625.00
Ottison Note #27
(Note payable 9120106)
$4,500,000 Interest for One Year due Sept 26, 2006:
$112,500.00
Goodwillie Note #28
(Note payable 12112106)
$3,000,000 Interest of $60,000 due 6/12/06 and 12/12/06
$120,000.00
$2,000,000 Interest of $40,000 due 6/12/06,12/12/06,6/12/07, & 12/12/07
Goodwillie Note #29
(Note payable 12/12/07)
Golf Course Loan
$80,000.00
$5,063,202 Principal and Interest of $36,030.05 due Monthly:
$432,360.60
$875,560.00
$16,688,202 (B) Total Annual Notes / Loan Payments (E):
TOTAL NOTES/LOAN/BONDS:
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TOTAL DEBT (A) & (B): $26,758,202
Total Annual Debt Payments (C) (D) & (E): $1,882,843.75
STATEMNTFY06
MINUTES
Nantucket Land Bank Commission
Regular Meeting of June 27, 2006
Forager House Meeting Room, 22 Broad Street
Nantucket, Massachusetts
CALL TO ORDER: 4:00 P.M.
PRESENT: Holdgate, Johnson, Reinhard, Stackpole. ABSENT: Bartlett.
Minutes of the regular meeting held June 13, 2006: Upon a motion made and duly seconded, it was
VOTED to accept, approve, and release the minutes of June 13,2006, as written.
A. CITIZEN BUSINESS: None
B. TRANSFER BUSINESS:
1. "M" Exemption Update:
a. Five Year Ownership Compliance and Releases of Liens: The Commission authorized
the issuance of releases of liens for the following properties as a result of the purchasers fulfilling all
of the requirements of Section 12, subsection (-m-):
No. 20861 Robert L. Tallman and Rose E. Tallman
No. 20868 Mark A. O'Banion
No. 20907 Kate W. Weld
No. 20914 Thomas 1. Hanlon and Jennifer Gray Hanlon
2. Transfer Update:
a. Inquiry Compliance - No. 27016 Christine Ouren: Based upon the information
provided, the Commission found the transfer to be in order.
C. PROPERTY MANAGEMENT:
1. Miacomet Golf Update:
a. Financial Report: Mr. Passios presented the financials through May 31, 2006. Upon a
motion made and duly seconded, it was VOTED to accept the statements as presented.
b. Operations Update: Mr. Passios provided an update on golf shop, restaurant, and golf
play activity, memberships, buildings renovations, instructional programs and clinics.
c. Junior Membership Proposal: Mr. Passios proposed creating a junior membership
category which would be open to any person 18 years of age or younger, at an annual cost of
$350.00 subject to certain play restrictions. Upon a motion made and duly seconded, it was VOTED
to approve the proposal as presented.
Land Bank Commission
June 13, 2006
Page 3.
d. Administration Building - Renovation Needs Discussion: Commissioner Stackpole
initiated a discussion regarding the condition of the administration building. After a discussion, upon
a motion made and duly seconded, it was VOTED to revisit the renovation improvement plans for
the building.
2. Somerset Road Sidewalk Project Discussion: The Director presented completed plans for
the extension of the sidewalk along West Miacomet Road towards the golf course which includes a
crushed concrete extension of Somerset Road and reported that three bids have been received in
response to the Commission's request for proposals as follows:
Victor-Brandon Corp. $108,887
Glowacki Paving $158,500
Lawrence Lynch $178,700
Upon a motion made and duly seconded, it was VOTED to ask the Director to contact the bidders for
additional information in order to determine the lowest responsible bidder.
D. FINANCIAL BUSINESS:
1. Monthly Transfer Statistics: The May 2006 transfer statistics were presented.
2. Warrant Authorization - Cash Disbursements: Upon a motion made and duly seconded, it was
VOTED to approve and execute the June 13,2006, warrant document in the amount of$135,748.83 to
be provided to the county treasurer.
E. REGULAR BUSINESS:
1. Public Notice Review: The Director reviewed public notices received since the last review.
No action was taken. '
2. Land Bank Map Project Update: The Director provided an update on matters related to the
development of the Land Bank map and presented first-draft examples of the map design and layout
for the Commission's review.
3. Land Bank Logo Design Discussion: The Director presented a proposal from the map
project graphic artist to update and improve the Land Bank logo in the amount of $4,850. After
discussion, upon a motion made and duly seconded, it was VOTED to accept the proposal. In
addition, Commissioner Johnson offered to have her brother, a graphic artist, look at the logo design.
F. PROPERTY MANAGEMENT:
1. Property Management Update: Mr. Perry provided an update on matters related to recent
property management activities and reported that the grading of roads off Barrett Farm Road and
Milestone Road was complete and that he would ask the Town of Nantucket for partial
reimbursement, discussed the Town's efforts to control mosquito breeding at the Munson property
and updated the Commission on the status of the summer beach cleaning efforts.
Nantucket Land Bank
June 27, 2006
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 minutes and land acquisition.
RETURN TO OPEN SESSION
ADJOURNMENT: Upon a motion made and duly seconded, it was VOTED to adjourn at 6:50 P.M.
Attested to:
Accepted, Approved, and Released by the VOTE of
the Commission this 11 th day of July 2006.
p ~ fiB diJJ;I
Philip D. Bartlett, Vice Chairman
TRANSFER BUSINESS
Nantucket Land Bank Commission
Regular Meeting of June 27 2006
1. "M" Exemption Update:
a. Five Year Ownership Compliance and Releases of Liens:
No. 20861 Robert L. Tallman and Rose E. Tallman
No. 20907 Kate W. Weld
No. 20868 Mark A. O'Banion
No. 20914 Thomas 1. Hanlon and Jennifer Gray Hanlon
2. Transfer Update:
a. Inquiry Compliance:
No. 27016 Christine Ouren