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AGENDA
Nantucket Land Bank Commission
Regular Meeting of February 12,2007
LandBank Meeting Room, 22 Broad Street
Nantucket, Massachusetts
CALL TO ORDER
Minutes of the regular meeting January 22, 2008
A. CITIZEN BUSINESS/ANNOUNCEMENTS
B. TRANSFER HEARING - No. 28483, Nantucket Dreamland Foundation
C. TRANSFER BUSINESS
D. FINANCIAL BUSINESS
1. Monthly Transfer Statistics
2. Warrant Authorization - Cash Disbursements
E. REGULAR BUSINESS
I. Public Notice Review
2.2008 Annual Town Meeting Articles
F. PROPERTY MANAGEMENT
I. Nobadeer Farm Road Property - Management Update
2. Wolfe Property - House Removal
3. Woodworth Property - Escrow Agreement Amendment
4. Carter Property - Bulkhead Project
5. Marine Department Zoning Article Questionnaire
6. Cisco Beach - Use Request
EXECUTIVE SESSION
ADJOURNMENT
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MINUTES
Nantucket Land Bank Commission
Regular Meeting of February 12, 2008
Land Bank Meeting Room, 22 Broad Street
Nantucket, Massachusetts
CALL TO ORDER: 4:02 P.M.
PRESENT: Gardner, Johnson, Reinhard, Stackpole. ABSENT: Bartlett.
Minutes of the previous regular meeting held January 22,2008: Upon a motion made and duly
seconded, it was VOTED to accept, approve and release the minutes of January 22, 2008, as written.
A. CITIZEN BUSINESS/ANNOUNCEMENTS:
I. W anoma Way Property - Beach Stairs Discussion: Laura McCloskey and her
representative, Steven Cohen were in attendance to express concern regarding the proposed
construction of beach stairs at the Land Bank's Wanoma Way property. Mr. Cohen identified the
existing publicly-accessible, privately-owned beach stairs in the area, explained existing parking
issues along W anoma Way and suggested alternative locations. The Commission expressed their
understanding of the concerns before them and explained that the stairs and property would include
fencing, signage and frequent monitoring to prevent parking.
B: TRANSFER HEARING CONTINUANCE - No. 28483 The Nantucket Dreamland Foundation:
Pursuant to Section 6.01 of the Rules and Regulations of the Nantucket Land Bank Commission, the
Commission continued a hearing from January 22, 2008, held to consider the request for a refund
under the "G" exemption ofthe Land Bank fee paid in the amount of$196,000 on Record No. 28483
dated October 3, 2007 for the transfer of property at 18 Easy Street and 17 South Water Street from
Dreamland Theater ZMG LLC to The Nantucket Dreamland Foundation.
The hearing was tape recorded.
Patty Roggeveen, Executive Director of The Nantucket Dreamland Foundation and Attorney
William F. Hunter, Esq. were present to act as representatives for the purchaser.
The hearing was opened by the Chairman.
Attorney Hunter presented the Stipulation and Settlement Agreement by and between the Nantucket
Islands Land Bank Commission and The Nantucket Dreamland Foundation with original signed
counterparts by the purchaser's Directors.
Upon a motion made and duly seconded, it was VOTED to approve and execute the Stipulation and
Settlement agreement as presented.
Pursuant to the terms of the signed agreement, upon a motion made and duly seconded, it was
VOTED to approve and execute the February 12,2008 warrant document in the amount of$196,000
representing a full refund of the Land Bank fee paid, to be provided to the purchaser.
Land Bank Commission
February 12,2008
Page 2
Based upon the terms of the Stipulation and Settlement Agreement, upon a motion made and duly
seconded, it was VOTED to suspend the hearing.
C: TRANSFER BUSINESS:
1. Transfer Record Nos. 28755 through 28835: The Commission reviewed transfers for the
period of January 1,2008, through January 31,2008.
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. 28796 Justin Robert Brooks and Sara Anne Brooks
No. 28797 Gary V. Wilson and Victoria Paige Wilson
No. 28829 Roberto O. Ramos
No. 28835 Steven L. Cohen, Trustee of Glenview Realty Trust
b. Purchase Price Low - No. 28779 Timothy Kelly: The Commission asked staff to
request additional information for verification of the stated purchase price.
c. Additional Information Not Provided - No. 28803 Peter N. Eldridge: The
Commission asked staff to request additional information to support the purchaser's claim to an
exemption from the Land Bank fee.
d. Transfer Fee Request for Refund - No. 28846 JED Realty Trust: The Commission
reviewed correspondence from the purchaser's representative, Attorney Kenneth Gullicksen
explaining the circumstances of the transfer and requesting a refund of the Land Bank fee paid.
Pursuant to Section 1 ofthe Land Bank Act and Sections 1.03 and 2.03(10) of the Rules and
Regulations, it was determined that the Land Bank fee was correctly paid on the reported purchase
price and to deny the request for a refund.
2. Transfer Update:
a. Additional Information Not Provided - No. 28732 Caren A. Oberg and Emerson
Muniz Gomes: The Commission asked staff to request a completed Form B from the purchasers.
b. Additional Information Provided: The Commission found the following transfers
to be in order based upon the additional information andlor documentation provided:
No. 28380 Moscarillo Family Limited Partnership
No. 28685 Margaret Estaban and Fernando Estaban
No. 28688 Femella Phillips
No. 28701 Charles E. Bullock and Kristen A. Sandifer
Land Bank Commission
February 12,2008
Page 3
c. Purchase Price Verified: The Commission found the following transfers to be in
order based upon the submitted documentation verifying the stated purchase price on Land Bank
Form A:
No. 28675 Michael Chisek
No. 28687 DB Realty Trust
No. 28717 Nantucket-Quidnet Nominee Trust
d. Adjustments Paid - Nos. 28738 and 28739 Stephanie Coffin Andrew and Coffin
Family Realty Trust: The Commission found the above referenced transfers to be in order based
upon receipt of the outstanding Land Bank fees.
e. Notice of Assessment - No. 28206 17 West Chester Street LLC: The Commission
reviewed correspondence from the purchaser's representative, Attorney Alison Sweet Zieff
explaining the circumstances supporting the stated purchase price on the above referenced transfer.
Based upon the information provided, upon a motion made and duly seconded, it was VOTED to
accept the Land Bank fee submitted at the time of the transfer as payment in full, rescind the Notice
of Assessment dated December 14,2007, approve and execute a Release of Lien to be provided to
the purchaser and to find the transfer to be in order.
f. Transfer Discussion - No. 28693 Brent B. Young: Ms. K. Hunter summarized the
transfer of an interest in Unit 7 of the Old Spouter Condominium at 118 Orange Street from Julie A.
Young to Brent B. Young at which time the "C" (intra-family transfer / gift) exemption was claimed
and a mortgage given by Julie A. Young to Brent B. Young was subsequently recorded. Based upon
the confidential information in the agreement submitted with correspondence from the purchaser's
representative, the Commission asked staff to seek an appraisal of the condominium unit in question
in order to determine the value ofthe mortgage given at the time of the transfer.
3. "M" Exemption Update:
a. Two-Year Domicile Non-Compliance - No. 26645 Jason D. Meister: The
Commission asked staff to request information with regard to the purchaser's compliance with the
two-year domicile requirement of the "M" exemption claimed at the time of the transfer.
b. Adjustment Paid 1 Release of Lien - No. 24533 Adam Sabin: Based upon receipt of
the outstanding Land Bank fee, penalty and accrued interest, upon a motion made and duly seconded, it
was VOTED to approve and execute the Release of Lien to be provided to the purchaser.
c. Duplicate Release of Lien - No. 15536 John F. Jeffrey and Loren Delker Jeffrey:
Based upon a previous vote, the Commission executed a duplicate Release of Lien to be provided to
the purchaser's representative.
Land Bank Commission
February 12,2008
Page 4
D. FINANCIAL BUSINESS:
1. Monthly Transfer Statistics: The January 2008 statistics were presented to the
Commission.
2. Warrant Authorization - Cash Disbursements: Upon a motion made and duly seconded, it
was VOTED to execute the February 12,2008, warrant document in the amount of$82,996.08 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.
2.2008 Annual Town Meeting Update: The Director provided an update on the Land Bank's
2008 Annual Town Meeting articles for the Commission's review and discussion.
F. PROPERTY MANAGEMENT:
1. Nobadeer Farm Road Property - Management Update: The Director provided an update of
the recent Zoning Board of Appeals hearing at which the Land Bank's application for relief was
considered for the placement of a paddle tennis facility on the Nobadeer Farm Road property and
reported that the hearing was continued to a date in March.
2. Wolfe Property - House Removal: The Director presented a request from Norman Reith
seeking to relocate the Wolfe House to his property on Cato Lane off Bartlett Road. Upon a motion
made and duly seconded, it was VOTED to approve the request and contribute $20,000 towards the
relocation expenses, subject to the removal occurring prior to the 2008 summer season.
3. Woodworth Property - Escrow Agreement Amendment: Upon a motion made and duly
seconded, it was VOTED to extend the escrow agreement for one year in order for the plans before
the Land Court to be approved.
4. Carter Property - Bulkhead Project: The Director presented a proposal from Carl Jelleme of
Toscana Corporation to replace the permitted bulkhead at the Land Bank's Carter property including
nourishment of the beach at a cost of$160,000 to be completed in conjunction with the construction of
the bulkhead on his adjacent property. Upon a motion made and duly seconded, it was VOTED to enter
into a contract with Toscana Corporation and authorize the Director to execute the proposal as
submitted.
5. Marine Department Zoning Article Questionnaire: The Director presented a Marine
Department Zoning Article Questionnaire for the Commission's review and response.
Land Bank Commission
February 12,2008
Page 5
6. Gaillard Property - Use Request: Commissioner Stackpole presented a request from the
Marine Department seeking to lease the Gaillard House for the 2008 summer season for the housing
of shellfish interns and lifeguards. Upon a motion made. and duly seconded, it was VOTED to
approve the request as presented.
7. Cisco Beach - Use Request: The Commission reviewed a written request from Ben
Shelton seeking permission to sell pre-packaged ice cream from his mobile ice cream truck at Cisco
Beach and Miacomet Beach throughout the 2008 summer season as he had in 2007. Upon a motion
made and duly seconded, it was VOTED to approve the request as presented.
G. EXECUTIVE SESSION: Upon a motion made and duly seconded, it was VOTED to go into
Executive Session. Each member was polled individually. All members voted yes. The Chairman
noted that the Commission would reconvene into regular session and that the purpose of going into
executive session was to discuss matters related to land acquisition.
RETURN TO OPEN SESSION
Attested to:
Upon a motion made and duly seconded, it was VOTED to adjourn at 6:45 P.M.
ilgg,k);
I Allen B. Reinhard, Secretary
ADJOURNMENT:
Accepted, Approved, and Released by the VOTE
of the Commission this 26th day of February 2008.
j"r~$k-
Leslie B. Johnson, Vice Chairman
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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
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tHRLJ4ANQY
Average
Low
High
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87
49
118
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53
34
81
$4~~;41~;'7~~/
$61,364,595
$19,337,833
$106,311,581
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. ...."., .....".".....-..,...-.
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......><...:...:...$ft;,e1Q,.144
. . $1,242,215
$455,339
$2,137,232
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34
10
45
<$514,411;$17$
$65,090,390
$20,137,833
$107,911,581
MONTHllY! mRANSFER. SMA:llISmlQ.$.' FISO. MEM 2008 ..' ..
......................................
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FY08
Month
Jul-07
Aug-07
Sep-07
Oct-07
Nov-07
Dec-07
Jan-08
Feb-08
Mar-08
Apr-08
May-08
Jun-08
<r
Average
Low
High
Total Exempt Taxable Total Gross Gross Revenue
Transfers Transfers Transfers Value Value Taxable Received
74 42 32 $51,678,861 $49,178,861 $987,577
120 73 47 $128,722,279 $120,670,279 $2,426,406
104 50 54 $111,793,300 $104,773,300 $2,099,466
105 56 49 $106,491,448 $101,741,448 $2,042,289
94 58 36 $72,763,084 $70,196,084 $1,404,462
87 70 17 $49,273,500 $46,623,500 $940,470
81 46 35 $71,587,030 $68,587,030 $1,389,068
~An;k~)~~~
$46,623,500
$120,670,279
$1,612,820
$940,470
$2,426,406
95
74
120
56
42
73
39
17
54
$84,615,643
$49,273,500
$128,722,279
MONTHL Y (UNAUDITED)
,
TRANSFER BUSINESS
Nantucket Land Bank Commission
Regular Meeting of February 12,2008
1. Transfer Hearing Continuance - No. 24281 The Nantucket Dreamland Foundation
2. January 2008 Transfers - Record Nos. 28755 through 28835:
a. Current "M" Exemptions:
No. 28796 Justin Robert Brooks and Sara Anne Brooks
No. 28797 Gary V. Wilson and Victoria Paige Wilson
No. 28829 Roberto O. Ramos
No. 28835 Steven L. Cohen, Trustee of Glenview Realty Trust
b. Purchase Price Low:
No. 28779 Timothy Kelly
c. Additional Information Not Provided:
No. 28803 Peter N. Eldridge
d. Transfer Fee Request for Refund:
No. 28846 JED Realty Trust
2. Transfer Update:
a. December Transfers - Form B Incomplete:
No. 28732 Caren A. Oberg and Emerson Muniz Gomes
b. Additional Information Provided:
No. 28380 Moscarillo Family Limited Partnership
No. 28685 Margaret Estaban and Fernando Estaban
No. 28688 Fernella Phillips
No. 28701 Charles E. Bullock and Kristen A. Sandifer
c. Purchase Price Verified:
No. 28675 Michael Chisek
No. 28687 DB Realty Trust
No. 28717 Nantucket-Quidnet Nominee Trust
d. Transfer Review - Adjustments Paid:
No. 28738 Stephanie Coffin Andrew
No. 28739 Coffin, Trustees of the Coffin Family Realty Trust
e. Transfer Discussion:
No. 2820617 West Chester Street LLC
No. 28693 Brent B. Young
3. "M" Exemption Update:
a. Two-Year Domicile Non-Compliance:
No. 26645 Jason D. Meister
b. Adjustment Paid / Release of Lien:
No. 24533 Adam Sabin
c. Five-Year Ownership Compliance - Duplicate Release of Lien:
No. 15536 John F. Jeffrey and Loren Delker Jeffrey