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Home My WebLink About2007-07-10 AGENDA Nantucket Land Bank Commission Regular Meeting of July 10, 2007 Land Bank Meeting Room, 22 Broad Street Nantucket, Massachusetts CALL TO ORDER EXECUTIVE SESSION Minutes of the regular meeting June 26, 2007 A. CITIZEN BUSINESS/ANNOUNCEMENTS B. PROPERTY MANAGEMENT 1. Miacomet Golf Course C. TRANSFER BUSINESS D. FINANCIAL BUSINESS 1. Monthly Transfer Statistics 2. Warrant Authorization - Fiscal Year 2007 Year End 3. Warrant Authorization - Cash Disbursements 4. Fiscal Year 2007 Budget Amendment 5. Fiscal Year 2008 Budget Adoption E. REGULAR BUSINESS 1. Public Notice Review F. PROPERTY MANAGEMENT 1. WalkerlPetrel Landing - Use Request 2. Ladies Beach - Use Request G. PERSONNEL ADMINISTRA nON 1. Health Insurance - Employee Contribution Change EXECUTIVE SESSION ADJOURNMENT ---( . c ._;-.~ I~ ~ ~ r- LV o :;;::> 00 .~ N Land Bank Commission July 10, 2007 Page 2 Mr. Passios presented NMP Payment Application #001 which included costs for insurance and irrigation materials. Upon a motion made and duly seconded, it was VOTED to authorize the payment from Land Bank funds in the total amount of $133,000. After an additional discussion, upon a motion made and duly seconded, it was VOTED to rescind the prior vote to authorize payment from Land Bank funds and to authorize and direct Moors Inc. to make the payment to NMP (Application #001) and subsequent approved payments from Miacomet Golf s money market account until an agreed upon acceptable pay-down balance has been reached. The Commission asked Mr. Passios to post the nine-hole renovation plans in the clubhouse. c. Operating Discussions: The Commissioner discussed permitting issues, logistics and costs associated with the construction of on-course restrooms and a golfbag storage area. No action was taken. C. CITIZEN BUSINESS/ANNOUNCEMENTS: None. D. TRANSFER BUSINESS: 1. Transfer Record Nos. 28055 through 28170: The Commission reviewed transfers for the period of June 1,2007, through June 30, 2007. a. Current "M" Exemptions and Liens: 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. 28065 Frederick Wellington No. 28115 Pilaiwan Wongsarak Manejit and Jirasak Manejit No. 28151 Molly Harding and Joseph W. Manning No. 28154 Michelle Johnson and Shayron J. Taylor No. 28165 Seth Collette b. Additional Review and Request for Information: Staffwas asked to request additional information and/or documentation for the following transfers: . No. 28073 Daniel F. Knise No. 28076 Yolanda J. Maxwell and Craig E. Taylor c. Form B Not Provided - No. 28131 Michael T. Fleischut and Jordana K. Fleischut: Staffwas asked to seek a satisfactorily completed Form B from the purchasers. E. FINANCIAL BUSINESS: 1. Monthly Transfer Statistics: The June 2007 transfer statistics and annual fiscal and calendar year-end revenue statistics were presented to the Commission. Land Bank Commission July 10, 2007 Page 4 ADJOURNMENT: 6:34 p.m. Attested to: Accepted, Approved, and Released by the VOTE of the Commission this 24th day of July 2007. John 1. s.$J~ MONTHLY TRANSFER STATISTICS CALENDAR 2006 CAL06 Total Exempt Taxable Total Gross Gross Revenue Month Transfers Transfers Transfers Value Value Taxable Received Jan-06 106 59 47 $105,705,774 $104,705,774 $2,094,115 Feb-06 87 54 33 $52,792,786 $51,532,000 $1,038,640 Mar-06 104 63 41 $81,793,500 $80,393,500 $1,607,870 Apr-06 78 44 34 $73,440,925 $69,424,975 $1,388,500 May-06 96 50 46 $91,696,267 $90,991,600 $1,821,832 Jun-06 79 39 40 $78,671,608 $77,871,608 $1,557,432 Jul-06 66 34 32 $65,734,501 $64,334,501 $1,286,690 Aug-06 75 49 26 $48,890,581 $46,838,137 $938,763 Sep-06 76 37 39 $107,911,581 $106,311,581 $2,137,232 Oct-06 97 58 39 $91,989,800 $77,540,800 $1,558,816 Nov-06 90 50 40 $82,332,701 $80,332,701 $1,610,654 Dec-06 118 81 37 $37,325,299 $35,325,299 $711,098 . . .............. . ......... . .. . .. . ..::i.:.:.:::.:::~l:1:qq;.$$,$..:::::::::::::::::~7~t;$.:1$:;4$7::.:.:::.::::::::$.:;$,q~;$~~:.:::.:. ......... . : .:.:Wt.W:J.l:INJpQ.$::::.:: :HUSSOY <::.:.p()9... . .. .\::=:241: ....... . . . . . . . . . . ........ . Average 89 52 38 $76,523,777 $73,800,206 $1,479,303 Low 66 34 26 $37,325,299 $35,325,299 $711,098 High 118 81 47 $107,911,581 $106,311,581 $2,137,232 MONTHLY TRANSFER STATISTICS CALENDAR 2007 CAL07 Total Exempt Taxable Total Gross Gross Revenue Month Transfers Transfers Transfers Value Value Taxable Received Jan-07 91 50 41 $80,227,513 $78,730,747 $1,575,890 Feb-07 49 39 10 $20,137,833 $19,337,833 $455,339 Mar-07 90 45 45 $75,366,310 $74,206,310 $1,543,701 Apr-07 103 68 35 $71,652,750 $61,309,417 $1,230,188 May-07 74 47 27 $51,842,265 $48,277,265 $969,545 Jun-07 116 78 38 $47,673,543 $44,030,543 $888,664 Jul-07 Aug-07 Sep-07 Oct-07 Nov-07 Dec-07 ::::.:JOOq~y~~:q*. .'....... . ... - -....... . ............................ ..."......... -........ .::::::::.:~~~;:a$.~~1:1$.:::::.::::::.:$ijj~$,l:32a... 5~3 .:::.:::::::::3.27\:::: .........H~Er... :: :::.:::: :$.$,4.$:;$.9P; ?J14. ... . ... .. ~~\T~n~~~H: : .....nnnn ... .. . ::::::::::::::.... .:. ::: ............ . .............. . .............. . . . . . . . . . . . . . .............. . ............... . Average 87 55 33 $57,816,702 $54,315,352 $1,110,555 Low 49 39 10 $20,137,833 $19,337,833 $455,339 High 116 78 45 $80,227,513 $78,730,747 $1,575,890 MONTHL Y UNAUDITED MINUTES Nantucket Land Bank Commission Regular Meeting of July 10, 2007 Land Bank Meeting Room, 22 Broad Street Nantucket, Massachusetts CALL TO ORDER: 4:02 P.M. PRESENT: Bartlett, Gardner, Johnson, Reinhard, Stackpole. Minutes of the regular meeting held June 26,2007: Upon a motion made and duly seconded, it was VOTED to accept, approve and release the minutes of June 26, 2007, as written. Commissioners Bartlett and Gardner joined the meeting during executive session. A. 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 real estate acquisition. REGULAR SESSION RECONVENED B. PROPERTY MANAGEMENT: 1. Miacomet Golf Course: a. Operations Update: Charlie Passios provided an update on operations including golf activity, league management and member comments. b. Golf Course Renovations Update: Mr. Passios presented the developmental budget for the nine-hole renovation project including a budget-to-actual summary, payment schedule spreadsheet and cash flow projections through June 2008. The Commission discussed course renovation costs-to-date, project timing and scheduling. The Commission discussed the proposed budget amount of $36,000 ($4,000 per month) for project management services to be provided by Charlie Passios. Upon a motion made and duly seconded, it was VOTED to contract for services with Mr. Passios to manage the renovation project. After a discussion, upon a motion made and duly seconded, it was VOTED to approve the nine-hole renovation budget as presented. Mr. Passios presented the final contract with NMP Golf Construction. Upon a motion made and duly seconded, it was VOTED to authorize the Chairman to execute the contract. Mr. Passios reported that a "start-up" project meeting with Howard Mauer is scheduled for July 11, 2007, at 3:30 p.m. Land Bank Commission July 10, 2007 Pa,ge 3 2. Warrant Authorization - Fiscal Year-End 2007: Upon a motion made and duly seconded, it was VOTED to execute the fiscal year-end June 30, 2007, warrant document in the amount of $60,857.33 to be provided to the county treasurer. 3. Warrant Authorization - Cash Disbursements: Upon a motion made and duly seconded, it was VOTED to execute the July 10,2007, warrant document in the amount of$1,737.11 to be provided to the county treasurer. 4. 2007 Fiscal Year Budget Amendments: The Director presented the fmal Fiscal Year 2007 budget report. After a review, upon a motion made and duly seconded, it was VOTED to amend the Fiscal Year 2007 Budget to reflect the Commission's authorization of the actual amounts spent for each line item. 5.2008 Fiscal Year Budget: The Commission discussed the Fiscal Year 2008 draft budget. Upon a motion made and duly seconded, it was VOTED to approve the budget as prepared and presented by the Director F. REGULAR BUSINESS: 1. Public Notice Review: The Director reviewed notices received since the last review. No action was taken. G. PROPERTY MANAGEMENT: 1. Walker Property/Petrel Landing Use Request: The Commission briefly discussed an upcoming meeting regarding a request from Jason Griswald of AckKayak to operate his kayak rental business from the Walker Property/Petrel Landing property throughout the summer season. 2. Ladies Beach Use Request: Ben Shelton was present to request permission to sell pre- packaged ice cream from his mobile "ice cream truck" at three additional stops along upper and lower Ladies Beach throughout the summer season. Upon a motion made and duly seconded, it was VOTED to approve the request as presented. H. PERSONNEL ADMINISTRATION: 1. Health Insurance - Employee Contribution Change: The Director informed the Commission that the Town of Nantucket payroll department is now withholding an additional 5% from Land Bank employees paychecks for Blue Cross and Blue Shield master medical insurance coverage. The total amount withheld from the employees' portion is now 20% ofthe total cost and is based on the Town of Nantucket's negotiated contract with the Nantucket Public Employees Laborers Union. There was no discussion. I. 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 real estate acquisition. MONTHLY TRANSFER STATISTICS FISCAL YEAR 2006 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-06 106 59 47 $105,705,774 $104,705,774 $2,094,115 Feb-06 87 54 33 $52,792,786 $51,532,000 $1,038,640 Mar-06 104 63 41 $81,793,500 $80,393,500 $1,607,870 Apr-06 78 44 34 $73,440,925 $69,424,975 $1,388,500 May-06 96 50 46 $91,696,267 $90,991,600 $1,821,832 Jun-06 79 39 40 $78,671,608 $77,871,608 $1,557,432 .........-. . .:..::.:.:::.:.:$.~:,::::::..:::::::::.:$M:.::::::.:::.:::.~1.;:,~q~4$7;~$ft::..:~1~1:q~:;1~~;~~!.::..::::::...:$g?~1:47:;$.~~ :T~~~.~YN~:q~:::::::::j~~1~: AveraQe 101 53 49 $95,874,808 $92,094,041 $1,845,664 Low 78 35 33 $52,792,786 $51,532,000 $1,038,640 High 148 110 85 $176,148,013 $171,285,209 $3,429,117 MONTHLY TRANSFER STATISTICS FISCAL YEAR 2007 FY07 Total Exempt Taxable Total Gross Gross Revenue Month Transfers Transfers Transfers Value Value Taxable Received Jul-06 66 34 32 $65,734,501 $64,334,501 $1,286,690 Aug-06 75 49 26 $48,890,581 $46,838,137 $938,763 Sep-06 76 37 39 $107,911,581 $106,311,581 $2,137,232 Oct-06 97 58 39 $91,989,800 $77,540,800 $1,558,816 Nov-06 90 50 40 $82,332,701 $80,332,701 $1,610,654 Dec-06 118 81 37 $37,325,299 $35,325,299 $711,098 Jan-07 91 50 41 $80,227,513 $78,730,747 $1,575,890 Feb-07 49 39 10 $20,137,833 $19,337,833 $455,339 Mar-07 90 45 45 $75,366,310 $74,006,310 $1,543,701 Apr-07 103 68 35 $71,652,750 $61,309,417 $1,230,188 May-07 74 47 27 $51,842,265 $48,277,265 $969,545 Jun-07 116 78 38 $47,673,543 $44,030,543 $888,664 :+~~~.J.y~~.b.!::::.:.:::j;q4$:::::.:::.:::::.:.:$.~$.:..::.::.:::.:::..:#p$:::..:.::::::::.:::::.$.7~1.;9$.4;.$.7$.:\:.:::...:$.7$.~:;$.7$;1~$..:..::.:..::...$.1:4:;$q~:;$~:1. Average 87 53 34 $65,090,390 $61,364,595 $1,242,215 Low 49 34 10 $20,137,833 $19,337,833 $455,339 High 118 81 45 $107,911,581 $106,311,581 $2,137,232 MONTHL Y UNAUDITED TRANSFER BUSINESS Nantucket Land Bank Commission Regular Meeting of July 10, 2007 1. May Transfers - Record Nos. 28055 through 28170: a. Current "M" Exemptions: No. 28065 Frederick Wellington No. 28115 Pilaiwan Wongsarak Manejit and Jirasak Manejit No. 28151 Molly Harding and Joseph W. Manning No. 28154 Michelle Johnson and Shayron J. Taylor No.28165 Seth Collette b. Transfer Review: No. 28073 Daniel F. Knise No. 28076 Yolanda 1. Maxwell and Craig E. Taylor c. Form B Not Provided: No. 28131 Michael T. Fleischut and Jordana K. Fleischut