HomeMy WebLinkAbout2006-01-10
(01/l/1I1 C ( r t, f
AGENDA
Nantucket Land Bank Commission
Regular Meeting of January 10, 2006
Land Bank Meeting Room, 22 Broad Street
Nantucket, Massachusetts
CALL TO ORDER
Minutes of the special meeting held December 13, 2005
A. CITIZEN BUSINESS/ANNOUNCEMENTS
B. PROPERTY MANAGEMENT
1. Miacomet Golf Update
C. TRANSFER HEARING REQUEST
1. No. 25156 Robert Driscoll and Laina C. Driscoll and
No. 25586 Quisett Partners Nominee Trust
D. TRANSFER BUSINESS
E. FINANCIAL BUSINESS
1. Transfer Statistics
2. Monthly Financial Report
3. Warrant Authorization
4. Ratify & Confirm December 27,2005 Warrant Authorization
F. REGULAR BUSINESS
1. Act Amendment - "M" Exemption
2. Public Notice Review
G. PROPERTY MANAGEMENT
1. 2006 Work Plan
2. Walker Property Plan Approval
3. Farrell Property Plan Approval
4. Somerset Farm - Garage and Old Workshop
5. Rodts Property - Parking Area Discussion
6. Tractor Tire Protection Request
EXECUTIVE SESSION
ADJOURNMENT
Land Bank Commission
January 10,2006
Page 2
7.2005 Pro Shop Operations: Mr. Passios offered to revisit certain 2005 procedural issues
and personnel matters which were of concern to the Commission. It was agreed to hold the matter
over for discussion at a later date.
C. TRANSFER HEARING REQUEST - No.25156 Robert Driscoll and Laina C. Driscoll and No.
25586 Quisett Partners Nominee Trust: Ms. Hunter informed the Commission that Robert Driscoll,
Laina C. Driscoll and representatives of the Quisett Partners Nominee Trust have requested a hearing
on the matter of Land Bank Notices of Assessment dated July 14,2005, and December 21,2005.
The Commission agreed to schedule a hearing at a meeting to be held on January 24, 2006.
D. TRANSFER BUSINESS:
1. Transfer Record Nos. 26428 through 26575: The Commission reviewed transfers for the
period of December 1, 2005, through December 31, 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. 26447 Gary Roy and Elaine Roy
No.26463 Marc J. Yacone
No. 26474 Gary Lee and Bovia Henry
No. 26481 Rhonda M. Allen
No.26497 Bazhen S. Lapenko and Radmila Soklakova
No. 26503 Gloria Maravilla Partida
No. 26520 Gerardo A. Nolasco and Celina Ramirez Portillo
No.26551 Christopher F.L. Ryder
b. Satisfactorily Completed Form B and/or Documentation Not Provided: The
Commission asked staff to request a satisfactorily completed Form B and/or documentation for the
following transfers:
No.26494 Mark N. Kozak and Nancy M. Kozak
No. 26542 Julius Jensen III
No.26493 Warren W. Hill
c. Transfer Review - No. 26556 Nantucket Sun Nominee Trust: Ms. Hunter reported that
payment of the outstanding Land Bank fee has been received. Accordingly, the Commission found
the transfer to be in order.
2. 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.26342 Windhorse Ventures, LLC
No. 26362 Valerie A. Monahan
Land Bank Commission
January 10, 2006
Page 4
G. PROPERTY MANAGEMENT:
I. 2006 Work Plan: Mr. Perry and Mr. Pollock were in attendance to present and discuss
the Property Management Task List itemizing and prioritizing 2006 projects for Land Bank
properties. After a discussion, upon a motion made and duly seconded, it was VOTED to approve
the task list as presented.
2. Walker Property Plan Approval: Mr. Perry and Mr. Pollock presented draft plans for
improvements at the Walker property including the removal of the storage shed and floats, raking,
cleaning and removal of debris, the planting of a grass buffer along the street frontage and the
installation of post and rope fencing along the roadside. Upon a motion made and duly seconded, it
was VOTED to approve the plan as presented.
3. Walker Property Use Request: Commissioner Stackpole presented a request to erect a
tent at the Walker property for the 2006 Figawi Event over the Memorial Day weekend beginning
May 27,2006. Upon a motion made and duly seconded, it was VOTED to approve the request as
presented.
4. Farrell Property Plan Approval: Mr. Perry and Mr. Pollock presented draft plans for
improvements at the Farrell property including the removal of the two houses, the installation of a
parking area for 6-8 cars, the installation of cedar trees, and the delineation of two walking trails to
the beach. After a discussion, upon a motion made and duly seconded, it was VOTED to approve the
plan as presented.
5. Somerset Farm Outlying Buildings Renovations: Mr. Pollock presented a plan for
improvements to outlying buildings at the Somerset Farm property. After a discussion, upon a
motion made and duly seconded, it was VOTED to authorize contracting for services ,with Terminex
to treat termite infestations in the buildings, to authorize the installation of poured concrete flooring
at the garagelbarn and to develop a re-use plan for the old workshop.
6. Rodts Property - Parking Area Discussion: Mr. Perry presented a plan to install a
parking area for up to 6 cars at the Rodts property off Polpis Road. Upon a motion made and duly
seconded, it was VOTED to approve the plans as presented.
7. Tractor Tire Protection Request: After a brief discussion, upon a motion made and duly
seconded, it was VOTED to approve the purchase of four tractor tire protective liners at a cost of$l ,800.
H. EXECUTIVE SESSION: Upon a motion made and duly seconded, it was VOTED to go into
Executive Session. Each member was polled individually. All members voted yes. The Chairman
noted that the Commission would reconvene into regular session and that the purpose of going into
executive session was to discuss matters related to land acquisition.
RETURN TO OPEN SESSION
MONTHLY TRANSFER STATISTICS FISCAL YEAR 2005
FY05
Month
Jul-04
Aug-04
Sep-04
Oct-04
Nov-04
Dec-04
Jan-05
Feb-05
Mar-05
Apr-05
May-05
Jun-05
tB.~q;l$Gq4
Average
Low
High
Total Exempt Taxable Total Gross
Transfers Transfers Transfers Value
100
83
135
161
90
176
130
85
93
89
96
124
........... .
.............7..4..5..
...... ..
........ .
:):~:):~:~ ;:: :"
........... .
114
83
176
55
41
46
61
28
112
57
48
53
50
50
58
................ .
...................3.....3........
........... ...
::.::>.,.4.>
................ .
. . . . . . . . . . . . . . . . .
55
28
112
45
42
89
100
62
64
73
37
40
39
46
66
........ .
........ .
""4'0"2"
.... ..
::::::::. ::,'
........ .
59
37
100
$73,444,580
$59,176,066
$154,331,770
$188,678,425
$90,528,833
$96,050,582
$136,754,392
$43,249,759
$68,345,932
$51,084,963
$83,808,142
$148,172,988
':':': '>'>': ":$:"6::- '6' ..2:-"'2....1"0::-::2:-:5.:. "7'"
.......... .. .....
. .' . . . . . . . .... . . .. .
. ......., . . . ... .
......... ...........
::;:;:;:;:::;:;:::;",:":,,:,,,"..::.::.,:l.,.:..:.:;
....... _.... _........
$99,468,869
$43,249,759
$188,678,425
MONTHLY TRANSFER STATISTICS FISCAL YEAR 2006
Gross
Value Taxable
$56,285,180
$58,161 ,216
$153,331,770
$163,378,425
$89,928,833
$94,817,249
$135,351,725
$42,599,759
$67,135,932
$49,884,963
$76,101,803
$144,472,988
. . . . . . . . . . . . . . . . . . . . . . . . .
........$..6. "1' 5' ..........2. ......7. ...........
.... .... . ....
.... .. .. ...
.... ..........
......... '.. .90. ..6..3.......
.... .... . ...
:::::;::.....:.:=;.:-..;:...:-::..:J;..:.:.:...:::::::
..... -.... -... .
$94,287,487
$42,599,759
$163,378,425
Revenue
Received
$1,125,704
$1,171,774
$3,066,635
$3,633,009
$1,808,922
$1,900,345
$2,744,481
$853,995
$1,356,739
$1,007,699
$1,524,036
$2,889,460
::$1?,7P$~*,$$
$1,923,567
$853,995
$3,633,009
FY06 Total Exempt Taxable Total Gross Gross Revenue
Month Transfers Transfers Transfers Value Value Taxable Received
Jul-05 83 36 47 $84,966,423 $84,366,423 $1,691,900
Aug-05 92 45 47 $79,297,377 $78,447,377 $1,574,140
Sep-05 131 48 83 $170,977,147 $155,677,147 $3,113,343
Oct-05 120 35 85 $176,148,013 $171,285,209 $3,429,117
Nov-05 91 48 43 $75,391,500 $74,591,500 $1,495,630
Dec-05 148 110 38 $79,616,375 $65,841,375 $1,335,445
Jan-06
Feb-06
Mar-06
Apr-06
May-06
Jun-06
. . . . . . . . . . . . . ., .......,... .,
............... ...........
THRUq~GP~:p6'$:)HH.e22/
Average 111 54
Low 83 35
High 148 110
MONTHL Y
......... .
H/343
......... .
57
38
85
...:......:.::.:::$~~$~~$~;$~ffi
$111,066,139
$75,391,500
$176,148,013
. . . . . . . . . . . . . . . . . . . .. ..
'::::.:$$$p;?q~;q~'1
$105,034,838
$65,841,375
$171,285,209
............$................................
...... .... .. ..
. . . . . .. . .. .. .
............. ............
".:-,.:-:." 1. 2. .-:a'?:g-:57' ,4:
. . . . . '" .,~. .
::::::::::::;...:.;-;.: :-:::':-::.';':'::::::
$2,106,596
$1,335,445
$3,429,117
UNAUDITED
NANTUCKET LAND BANK COMMISSION WORKSHEET
UNAUDITED FINANCIAL REPORT as of November 30, 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
2.61
2.61
3.92
$422,095,56
$6,948,311,06
$11,592,358,19
$18,962,764.81
............ .
STATEMENT OF ACCOUNTS. RESTRICTED FUNDS: APY
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:
3,34
3,30
3.07
2.62
3,92
3.92
2.22
$7,190,26
$1,133,986.41
$2,440,437.49
$228,225,32
$312,381,74
$146,883,96
$25,600.48
$402,500,00
$1,500.00
$4,698,705.66
.........................,... .
............................ .
. . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . , . . . . . . . . . . . . . . . . . . . . . .
........ .
Principal Payment Due Payment Due
BONDS: Outstanding 1/1/2006 7/1/2006
1998 Series E Issue $10,070,000 (A) (C) $246,851.25 (D) $771,851.25
(Final principal payment 7/1/2019)
Principal
NOTES / LOAN: Outstanding Payment Schedules Annual Payments
Marble Note #19 $1,700,000 Interest of $25,768,60 due 9th of March, June, Sept, Dec: $103,074,40
Gardner Shr 19 Note #23 $425,000 Interest of $6,906,25 due 30th of Jan, April, July, Oct: $27,625,00
(Trust terminates 615/06)
Ottison Note #27 $4,500,000 Interest for One Year due Sept 26, 2006: $112,500.00
(Note payable !J/:.!61UO)
Golf Course Loan $5,180,734 Principal and Interest of $36,030,05 due Monthly: $432,360,60
TOTAL NOTES/LOAN DEBT: $11,805,734 (B) Total Annual Notes / Loan Payments (E): $675,560,00
...................................... .
............... .
TOTAL DEBT -(A) & (B): $21,875,734
Total Annual Debt Payments (C) (D) & (E): $1,694,262.50
........................................... -....................
................................... .
.................. .
STA TEMNTFY06
MINUTES
Nantucket Land Bank Commission
Regular Meeting of January 10,2006
Land Bank Meeting Room, 22 Broad Street
Nantucket, Massachusetts
CALL TO ORDER: 4:02 P.M.
PRESENT: Bartlett, Holdgate, Miller, Reinhard, Stackpole.
Minutes of the regular meeting held December 13, 2005: Upon a motion made and duly seconded,
it was VOTED to accept, approve and release the minutes of December 13,2005, as written.
A. CITIZEN BUSINESS: None
B. PROPERTY MANAGEMENT:
1. Miacomet Golf Citizens' Concerns: The Commission acknowledged receipt of
correspondence from Woody Kay, Pam and Charlie Williams, Paul Steinfurth, Michael Passaro,
Margaret Benedict and an anonymous party expressing their concerns regarding Miacomet golf
professional Michael Merrill's employment.
2. Facilities Update: Mr. Passios provided an update on matters related to the installation of
heating units at the offices, golf car storage, pro shop setup and plans for clubhouse renovations
scheduled to go before the Historic District Commission next week.
3. Operations Update: Mr. Passios reported an increase in golf activity due to favorable
weather conditions and a thirty percent increase in sales at the restaurant.
4. 2006 Miacomet Golf Club Tournament Schedule Discussion: The Commission was
informed that general manager, Alan Costa had recently held a meeting with eight golf club
members for the purpose of receiving feedback and discussing the proposed 2006 tournament
schedule. Upon a motion made and duly seconded, it was VOTED to approve the 2006 tournament
schedule as presented.
5.2006 Miacomet Golf Course Budget Review and Discussion: Mr. Passios presented line by
line explanations and supplemental discussion of the proposed 2006 budget for Miacomet Golf
including operational income and expenses and capital projects. After a lengthy review and
discussion, upon a motion made and duly seconded, it was VOTED to approve the budget as
presented. Additionally, Upon a motion made and duly seconded, it was VOTED to authorize going
forward with the permitting process for clubhouse renovations as a capital project.
6.2006 Membership Discussion: Mr. Passios presented a final report detailing the 2005
membership categories and revenue. After a discussion regarding the membership funds collected as
follows, upon a motion made and duly seconded, it was VOTED not to increase membership dues
for the 2006 year.
Land Bank Commission
January 10,2006
Page 3
No. 26368 98 Tom Nevers Road BLN LLC
No. 26398 Jeffrey Carter
No. 26181 Bank of America NA
3. "M" Exemption Business:
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. 20329 Elizabeth Sutton-Sims
No. 20358 Jeanne M. Travaglione
No. 20499 Fionn T. Cawley and Jean M. Cawley
No.20507 Meredith MacNab and Malcolm W. MacNab
E. FINANCIAL BUSINESS:
1. Monthly Transfer Statistics: The December 2005 transfer statistics were presented.
2. Monthly Financial Report: The Commission accepted financial statements for the
period ending November 30, 2005.
3. Warrant Authorization - Cash Disbursements: Upon a motion made and duly
seconded, it was VOTED to approve and execute the January 10,2006, warrant document in the
amount of $50,994.20 to be provided to the county treasurer.
4. December 27,2005 Warrant Authorization - Cash Disbursements: Upon a motion
made and duly seconded, it was VOTED to ratify and confirm prior approval, by a majority of the
Commissioners, the December 27,2005, warrant document in the amount of$156,973.53 to be
provided to the county treasurer.
F. REGULAR BUSINESS:
1. Act Amendment - "M" Exemption: The Director reported that the Selectmen have
approved submitting a request to representatives in the legislature seeking an amendment to Senate
Bill No. 2053 which as currently written proposes to amend the Land Bank Act by increasing the
amount exempted from the Land Bank fee under the first-time home buyers (-m-) exemption from
$200,000 to $400,000. The proposed amendment to the bill would allow the Land Bank to annually
determine the amount exempted in no event less than $400,000.
2. Public Notice Review: The Director reviewed public notices received since the last
review. No action was taken.
Land Bank Commission
January 10, 2006
Page 5
ADJOURNMENT: Upon a motion made and duly seconded, it was VOTED to adjourn at 6:38 P.M.
Attested to:
Accepted, Approved, and Released by VOTE of
the Commission this 24th day of January 2006.
/r;::
MONTHLY TRANSFER STATISTICS CALENDAR 2004
Month
Jan-04
Feb-04
Mar-04
Apr-04
May-04
Jun-04
Jul-04
Aug-04
Sep-04
Oct-04
Nov-04
Dec-04
............... .
...........T..O...T..A........
>>:::L
............... .
.......... .
Average
Low
High
Total Exempt Taxable
Transfers Transfers Transfers
120
82
84
115
117
134
100
83
135
161
90
176
................ .
........................9.7.....
:...:.//1\8:)
116
82
176
64
47
49
59
64
60
55
41
46
61
28
112
............. .
............6..............
...... ....
....... ...
...... ....
....... ...
...... ....
:::::::::::::J3;~::::::
57
28
112
56
35
35
56
53
74
45
42
89
100
62
64
. . . . . . . . . .
............7. "1' '.'
::::.1
59
35
100
Total Gross
Value
$79,888,337
$38,149,238
$33,101,234
$72,545,634
$79,316,822
$100,564,874
$73,444,580
$59,176,066
$154,396,620
$188,678,425
$90,528,833
$96,050,582
.....: :...... $.i:,.p$$.$41.i?41
$88,820,104
$33,101,234
$188,678,425
MONTHLY TRANSFER STATISTICS CALENDAR 2005
Gross
Value Taxable
$77,247,707
$37,749,238
$30,163,300
$68,241 ,190
$77,716,822
$96,964,874
$56,285,180
$58,161,216
$153,331,770
$163,378,425
$89,928,833
$94,817,249
......................... .
.......$. "1' "0' ................5. ......0. "5' ....
. .. ... ... .. .
.... . .. . . ...
<<<'. ". ,. . 0'3<'98 '<8" '.,.
.... . .. .. .. .....
:::::;:: .::.:1:..:..:.:.;:..:.:.:..~.:.:.::..::;:
......,....".......... .
$83,665,484
$30,163,300
$163,378,425
Revenue
Received
$1,544,954
$752,985
$609,766
$1,366,824
$1,560,086
$1,943,297
$1,125,704
$1,171,774
$3,066,635
$3,633,009
$1,808,922
$1,900,345
. . . . . . . . . . . . . . . . .. . .
....$2............................2......
. . . . .. . .. . .
..:P~4ffl4@q:.:...:
$1,707,025
$609,766
$3,633,009
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
................ . .. ............. .......... . ........... . . . . . . . . . . . . . . . . . . . . . . . . . . . . ...........,.............. . .:.$23.015.984..
............... . ............... . ...........638.... /644 .......................... . ......................... .
..........rOTAL.... ............1.282... ......... .'. '$1' '1~rt 813' 01 t .......$r14575~.201.....
..... .. ... ........ '" ....... ... .. ... . . .. . ... .. , .. . .
........ . .. ....... .. .. ... . ...... '. '.' .... '.' .. .... ...... . . . ... .. .. .
><HHH ~~.::.~ ~:.:.:.::HH . . . . .. .. . , . . ....... . . ... . . . .. . . ... ....
~: ~ H~~ ~ ~ ~ ~~~~.: ~ :::: ::: ::;~~H . . . . . .. ... .... . . .... ... .... ....... .. . . ..... ..
........ .......... ... ..... .... . ... .. ... . .
:;;::;::::;:::...:.;~:.:...:.::....::.:...;:..::,::.: ....... .. ..... . j:'" .. . .' ...... :::: -: -:::-:-~:::::::::::~.;.:::::.:::
........... . ........... . ::::::::..::::.::.:::::.:...:::.:::.:':.::;.;:::::::;
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .......................... .
. ..............
Average 107 53 54 $99,817,751 $95,479,683 $1,917,999
Low 83 35 37 $43,249,759 $42,599,759 $853,995
High 148 110 85 $176,148,013 $171,285,209 $3,429,117
MONTHL Y
UNAUDITED
TRANSFER BUSINESS
Nantucket Land Bank Commission
Regular Meeting of January 10, 2006
1. December Transfers - Record Nos. 26428 through 26575
a. Current "M" Exemptions:
No.26447 Gary Roy and Elaine Roy
No.26463 Marc J. Yacone
No.26474 Gary Lee and Bovia Henry
No. 26481 Rhonda M. Allen
No.26497 Bazhen S. Lapenko and Radmila Soklakova
No. 26503 Gloria Maravilla Partida
No. 26520 Gerardo A. Nolasco and Celina Ramirez Portillo
No. 26551 Christopher F.L. Ryder
b. Satisfactorily Completed Form B or Documentation Not Provided:
No. 26494 Mark N. Kozak and Nancy M. Kozak
No. 26542 Juilis Jensen III
c. Transfer Review:
No.26493 Warren W. Hill
No. 26556 Nantucket Sun Nominee Trust
2. Transfer Update:
a. Satisfactorily Completed Form B and/or Documentation Provided:
No. 26342 Windhorse Ventures, LLC
No.26362 Valerie A. Monahan
No. 26368 98 Tom Nevers Road BLN LLC
No. 26398 Jeffrey Carter
No. 26181 Bank of America NA
3. "M" Exemption Business:
a. Five Year Ownership Compliance and Releases of Liens:
No. 20329 Elizabeth Sutton-Sims
No.20358 Jeanne M. Travaglione
No. 20499 Fionn T. Cawley and Jean M. Cawley
No. 20507 Meredith MacNab and Malcolm W. MacNab