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Home My WebLink About2008-09-09 --r~ AGENDA Nantucket Land Bank Commission Regular Meeting of September 9, 2008 Land Bank Meeting Room, 22 Broad Street Nantucket, Massachusetts CALL TO ORDER d co A. EXECUTIVE SESSION C/) ..., -u N ~ B. CITIZEN BUSINESS/ANNOUNCEMENTS u C. MINUTES OF THE REGULAR MEETING OF AUGUST 26, 2008 (..j ..c".. D. PROPERTY MANAGEMENT 1. Wolfe Property - Project Update 2. Tetawkimmo Property - Encroachment Matter 3. North Cambridge Street Properties - DPW Request 4. Miacomet Pond Property - Use Request 5. Ladies Beach Property - Use Request 6. Bum Program Discussion 7. Walker Property - Use Request 8. Sanguinetti Property - Trail Project 9. Reith Property - Septic System Replacement 10. Somerset Farm Property - Farmhouse Foundation E. TRANSFER BUSINESS F. FINANCIAL BUSINESS 1. Monthly Financial Report 2. Warrant Authorization - Cash Disbursements 3. Bond and Note Refinancing Discussion ADJOURNMENT MINUTES Nantucket Land Bank Commission Regular Meeting of September 9, 2008 Land Bank Meeting Room, 22 Broad Street Nantucket, Massachusetts CALL TO ORDER: 4:08 P.M. PRESENT: Bartlett, Johnson, Reinhard, Gardner. ABSENT: Stackpole. 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 land acquisition. RETURN TO OPEN SESSION B. CITIZEN BUSINESS/ANNOUNCEMENTS: None. C. APPROVAL OF MINUTES: Upon a motion made and duly seconded, it was VOTED to accept, approve and release the regular session minutes of August 26, 2008, as written. D. PROPERTY MANAGEMENT: I. Wolfe Property - Project Update: The Director reported that the Conservation Commission denied a Certificate of Compliance for improvements made at the Wolfe property based on the installation of a pilings and rope barrier not shown on the original plan. Upon a motion made and duly seconded, the Commission VOTED to remove the rope portion of the barrier and apply for a minor modification to its application at the Conservation Commission. 2. Tetawkimmo Property - Encroachment Matter: The Director reported that he visited the Holdgate Pit which abuts the Land Bank's Tetawkimmo property with Bill Hunter, attorney for Holdgate Partners, Inc., to assess the areas of encroachment activity. After a discussion, the Commission determined to request that Holdgate Partners, Inc. survey and clearly delineate the limits of their property, move all business operations off of Land Bank property and restore and stabilize the bank along the west side of the pit. 3. North Cambridge Street Properties - Department of Public Works Request: After a discussion, upon a motion made and duly seconded, the Commission VOTED to authorize the Director to execute a letter of consent allowing the Department of Public Works to perform mosquito ditch restoration activity. 4. Miacomet Pond Property - Use Request: The Commission considered a request to hold a wedding ceremony at the Miacomet Pond Property for 50 guests on Saturday, October 11, 2008 at 2 p.m. Upon a motion made and duly seconded, the Commission VOTED to approve the request as presented and asked that activity be kept to one side of the property so as not to inhibit the public from using the property. Land Bank Commission September 9,2008 Page 2 5. Ladies Beach Property - Use Request: The Commission considered a request from Susan Warner of Nantucket Clambake to hold an event on the Land Bank's Ladies Beach Property for 22 guests with table seating on Saturday, September 13, 2008 at 5 p.m. Upon a motion made and duly seconded, the Commission VOTED to approve the request as presented. 6. Burn Program Discussion: The Director reported that policies and procedures for burning activities on Land Bank property had been finalized and requested the Commission's authorization to move forward with a fall 2008 burn plan. After a discussion regarding the issues surrounding the Nantucket Heathlands Partnership, upon a motion made and duly seconded, the Commission VOTED (a) to work in cooperation with the Nantucket Land Council and Massachusetts Audubon Society to restart the program (b) to contract with the Nantucket Fire Department and off-island burn programs for additional support (c) to allow Land Bank staff to assist with the Nantucket Conservation Foundation burns on an unpaid basis (d) and to authorize the purchase of $8,000 worth of new burning equipment for development of the Land Bank's bum program. 7. Walker Property - Use Request: The Director presented a request from ACK Kayak to set up a table and invite spectators to the property for nonprofit fundraising kayak races on Monday, September 15, 2008. Upon a motion made and duly seconded, the Commission VOTED to approve the request as presented. 8. Sanguinetti Property - Trail Project: Property Planner/Stewardship Coordinator Bruce Perry provided cost estimates for the construction of 450 feet of boardwalk as a Conservation Commission permitting requirement for the proposed wetland trails. After a discussion, the Commission VOTED to authorize Mr. Perry to begin the permitting process and approved the expenditure of $7,000 toward construction of the boardwalk. 9. Reith Property - Septic System Replacement: Mr. Perry reviewed the status ofthe existing septic system at the Land Bank's Reith Property and the Commission determined not to replace the system at this time. 10. Somerset Farm Property - Farmhouse Foundation: Mr. Perry presented a cost estimate of $50,000 to replace the foundation of the farmhouse at the Somerset Farm property. The Commission determined not to proceed with the project at this time. C. TRANSFER BUSINESS: 1. August 2008 Transfers - Record Nos. 29255 through 29317: 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. 29291 Richard Liam Robinson and Erin Jane Robinson No. 29305 Ali Tepsurkayev and Maria Touzakova Land Bank Commission September 9,2008 Page 3 2. Transfer Update: a. Additional Information Not Provided: The Commission asked staff to request additional information to support the purchasers' claim to an exemption from the Land Bank for the following transfers: No. 29256 Elizabeth Chick No. 29275 Austin R. Schraff and Ann Keating No. 29580 Jennifer Smith Boylan, David A. Smith, Brett A. Smith No. 29302 The Beatrice K. Filimonov Living Trust b. Purchase Price Documentation Required - No. 29315 Julie and Matthew Richardson: The Commission asked staff to request additional information and/or documentation from the purchaser to support the stated purchase price on the above referenced transfer. 3. "M" Exemption Update: a. Failure to Request Hearing / Notice of Lien - No. 26711 Joseph Wright, Janice E. Wright, and Robert S. Wright: Ms. Hunter provided a history of the transfer and reported that the purchasers have not yet requested a hearing since the mailing of the Notice of Assessment on August 13, 2008. Upon a motion made and duly seconded, it was VOTED to execute an unsubordinated Notice of Lien for the outstanding fee to be recorded after September 13,2008 that will run with the property until payment of the outstanding fee, penalty and accrued interest is received. b. Two-Year Domicile Requirement / Documentation Provided - No. 27147 Ryan H. Conway: After reviewing the materials supplied by the purchaser on the above referenced transfer, the Commission found, based solely on said materials, that the purchaser is in compliance with the two-year domicile requirement of the "M" exemption. D. FINANCIAL BUSINESS: 1. Monthly Transfer Statistics: The August 2008 transfer statistics were presented. 2. Warrant Authorization - Cash Disbursements: Upon a motion made and duly seconded, it was VOTED to execute the September 9,2008 warrant document in the amount of$60,296.73 to be provided to the county treasurer. 3. Bond and Note Refinancing Discussion: The Director and Ms. Hunter reported on recent discussions with Cynthia McNerney of First Southwest Financial regarding the opportunity to call the 1998 Series E Bond and the 2004 Nantucket Bank Golf Course Loan through the issuance of a new bond that would provide a significant interest savings without extending the debt repayment period. Upon a motion made and duly seconded, it was VOTED to proceed with the issuance of a new bond through the use of the previously authorized funds carrying the full faith and credit of the Town of Nantucket. Land Bank Commission September 9,2008 Page 4 ADJOURNMENT: Upon a motion ma e and duly seconded, it was VOTED to adjourn at 6:53 P.M. Accepted, Approved, and Released by the VOTE of the Commission this 23rd day of September 2008. rt Mo. N.T...,..I1..Y"tRANSEER.S"t'A....."tJsmIQ$.cAUSNDAR. u2.0Q7. :)/ . .. ... ...."...,_...... .. .........",........_.,,'".. d_'_" ,," dO .... .... .............._........ ,........._......... ........,-..- - - --........................... ..,,-,--,. --. --...........................'...,...... .",...._.......... .'".". '_. .d' _._ ."' ...... ... ... .... ..... ...."".... .......-...... -, 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 74 42 32 $51,678,861 $49,178,861 $987,577 Aug-07 120 73 47 $128,722,279 $120,670,279 $2,424,906 Sep-07 104 50 54 $111,793,300 $104,773,300 $2,099,466 Oct-07 105 56 49 $106,491,448 $1 01 ,741 ,448 $1,846,289 Nov-07 94 58 36 $72,763,084 $70,196,084 $1,404,462 Dec-07 87 70 17 $49,273,500 $46,623,500 $940,470 TurF' ^'Ir::n'7 ...""... ..... >$1n 07F. 1 ... . .,. .,. ..... Average 92 56 36 $72,301,891 $68,256,299 $1,363,875 Low 49 39 10 $20,137,833 $19,337,833 $455,339 High 120 78 54 $128,722,279 $120,670,279 $2,424,906 rvI0Nl'J-Il..Y'.'l'gaN$FelK$l'Ali$'l'ISS..CAIWSNbAi$2Q()$U......................<....................................... ."."..."-.-.,,..,..-.--..- -." ...-............."..........................-----................................ .. CAL08 Total Exempt Taxable Total Gross Gross Revenue -. Month Transfers Transfers Transfers Value Value Taxable Received Jan-08 81 46 35 $71,587,030 $68,587,030 $1,389,068 Feb-08 68 44 24 $42,748,590 $42,348,590 $858,972 Mar-08 59 38 21 $40,306,700 $39,606,700 $794,934 Apr-08 61 37 24 $36,321,250 $35,921,250 $722,425 May-08 98 83 15 $22,986,126 $20,986,126 $466,722 Jun-08 68 41 27 $49,391,772 $46,394,550 $929,891 Jul-08 65 38 27 $47,229,858 $46,335,111 $928,702 Aug-08 63 38 25 $84,318,085 $83,708,085 $1,678,162 t----. Sep-08 Oct-08 f--. Nov-08 Dec-08 ... ...... .......... ........ ., < ,~ ............ THRU AUG08 .... ..".~ .... :Pf..f ..~ -..~..,,- Average 70 46 25 $49,361,176 $47,985,930 $971,109 Low 59 37 15 $22,986,126 $20,986,126 $466,722 High 98 83 35 $84,318,085 $83,708,085 $1,678,162 -. MONTHL Y (UNAUDITED) TRANSFER BUSINESS Nantucket Land Bank Commission Regular Meeting of September 9, 2008 1. August 2008 Transfers - Record Nos. 29255 through 29317: a. Current "M" Exemptions: No. 29291 Richard Liam Robinson and Erin Jane Robinson No. 29305 Ali Tepsurkayev and Maria Touzakova 2. Transfer Update: a. Additional Information Not Provided: No. 29256 Elizabeth Chick No. 29275 Austin R. Schraff and Ann Keating No. 29580 Jennifer Smith Boylan, David A. Smith, Brett A. Smith No. 29302 The Beatrice K. Filimonov Living Trust b. Purchase Price Documentation Required: No. 29315 Julie and Matthew Richardson 3. "M" Exemption Update: a. Failure to Request Hearing - Notice of Lien: No. 26711 Joseph Wright, Janice E. Wright, Robert S. Wright b. Two-Year Domicile Requirement - Documentation Provided: No. 27147 Ryan H. Conway CIWP60lMINDOCSITRANSFER BUSINESS 08 1st meeting. doc