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Home My WebLink About2009-07-14 AGENDA Nantucket Land Bank Commission Regular Meeting of July 14,2009 Land Bank Meeting Room, 22 Broad Street Nantucket, Massachusetts CALL TO ORDER A. EXECUTIVE SESSION B. CITIZEN BUSINESS/ANNOUNCEMENTS o '-S C. MINUTES OF THE REGULAR MEETING OF JUNE 23, 2009 D. PROPERTY MANAGEMENT 1. Lily Pond Property - Blair House Discussion 2. Commercial Use Liability Discussion 3. Craig Property - Use Request t'.J \.0 ,',J E. TRANSFER BUSINESS F. FINANCIAL BUSINESS 1. Monthly Transfer Statistics 2. Warrant Authorization - Fiscal Year 2009 Cash Disbursements 3. Warrant Authorization - Cash Disbursements 4. Fiscal Year 2009 Year End Budget Amendments 5. Fiscal Year 2010 Budget Approval ADJOURNMENT MINUTES Nantucket Land Bank Commission Regular Meeting of July 14, 2009 Land Bank Meeting Room, 22 Broad Street Nantucket, Massachusetts CALL TO ORDER: 4:01 P.M. PRESENT: Bartlett, Johnson, Stackpole. ABSENT: Gardner, Reinhard. A. CITIZEN BUSINESS/ANNOUNCEMENTS: None. B. APPROV AL OF MINUTES: Upon a motion made and duly seconded, it was VOTED to accept, approve and release the minutes of June 23, 2009, as written. Commissioner Reinhard entered the meeting at this time. C. PROPERTY MANAGEMENT: 1. Lily Pond Property - Blair House Discussion: The Commission considered the concept of petitioning the Massachusetts State Legislature for permission to sell the relocated Blair House based on the limited conservation value of the property and the excessive investment needed to renovate the interior, and asked staff to provide more information on the viability of the concept. 2. Commercial Use Liability Discussion: The Director reported that Land Bank counsel had recommended that individuals and companies who propose to offer commercial services on Land Bank property should be required to carry at least $5,000,000 per person per accident of liability insurance coverage. The Commission determined to take the recommendation under consideration in setting the policy for the 2010 summer season. 3. Craig Property - Use Request: The Director presented a request on behalf of the non- profit organization Strong Wings to accommodate their use of the Craig Property for the storage of 12 kayaks which are used throughout the 9-week summer camp season. Upon a motion made and duly seconded, it was VOTED to allow Strong Wings to store kayaks along the side of the parking lot, in special consideration of their role as an educational organization dedicated to teaching environmental stewardship through outdoor activities. D. TRANSFER BUSINESS: Commissioner Gardner entered the meeting at this time. 1. Transfer Record Nos. 29906 through 29963: The Commission reviewed transfers for the period of June 1,2009 through June 30, 2009. a. Current "M" Exemptions and Lien - No. 29912 Catherine A. Kinsella: The Commission authorized placing a lien against the property as a result of the purchaser claiming the "M" exemption as a first-time buyer of real property. Land Bank Commission July 14, 2009 Page 2 b. Additional Information Not Provided - No. 29912 Catherine A. Kinsella: The Commission asked staff to request additional information and/or documentation on the above- referenced transfer. c. Purchase Price Low: The Commission asked staff to request additional information and/or documentation from the purchasers to support the stated purchase price on the following transfers: No. 29909 Marybeth Wise No. 29941 2-4 Lily Street, LLC 2. Transfer Update: a. Additional Information Provided - No. 29839 Christopher J. Martin: Based solely upon the additional information and/or documentation provided by the purchaser, the Commission found that the transfer qualifies for the exemption claimed. b. Purchase Price Explanation Accepted - No. 29840 Paul M. Roberts DDS, LLC: The Commission accepted the explanation and documentation provided by the purchaser to support the stated purchase price on the above-referenced transfer. c. Fee Paid / Request for Waiver of Penalty and Interest - No. 29846 Somerset Lane, LLC: Ms. Hunter summarized the history of the transfer, explaining that the purchaser had claimed the (-g-) exemption at the time of the transfer, however it was later discovered that the I.R.S. determination letter which was provided did not support the conclusion that the LLC was a charitable or religious entity as required by the 50l(c)(3) status, and reported that along with providing payment of the outstanding fee in the full, the purchasers submitted correspondence requesting a waiver of the penalty and interest. Upon a motion made and duly seconded, it was VOTED to waive the penalty and interest based on the purchasers prompt payment and good faith efforts to resolve the matter. 3. "M" Exemption Update: a. Two-Year Domicile Compliance / Response to Inquiry - No. 27989 David Glowacki II: Based upon a review of the explanation provided, the Commission found the purchaser to be in compliance with the two-year domicile requirement of the "M" exemption. E. FINANCIAL BUSINESS: 1. Monthly Transfer Statistics: The June 2009 transfer statistics and annual fiscal and calendar year-end revenue statistics were presented to the Commission. 2. Warrant Authorization - Fiscal Year-End 2009: Upon a motion made and duly seconded, it was VOTED to execute the fiscal year-end June 30, 2009 warrant document in the amount of $106,451.01 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 14,2009 warrant document in the amount of $2,076.01 to be provided to the county treasurer. Land Bank Commission July 14,2009 Page 3 4.2009 Fiscal Year Budget Amendments: The Director presented the Fiscal Year 2009 budget report. After a review, upon a motion made and duly seconded, it was VOTED to amend the Fiscal Year 2009 Budget to reflect the Commission's authorization of actual amounts spent for each line item. 5.2010 Fiscal Year Budget: The Commission discussed the Fiscal Year 2010 draft budget. Upon a motion made and duly seconded, it was VOTED to approve the budget as prepared and presented by the Director. F. 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: ADJOURNMENT: 5:20 p.m. Accepted, Approved, and Released by the VOTE of the Commission this 28th day of July 2009. :111jf:m:~~::mml~II::liI1"lm"B::::~III~::I_:::al:I::::::::::::::::::::::::::i::::::::::::::::::::::::::::::::::::::::::::::':::::::::::::::::::::::::::::::::::'::::::::::::::::::::::::::::::::::i::::::,:::::::::::::::::::::::::::i:::::::::::::::::':':::::,:i::::,':;:":. FY08 Total Exempt Taxable Total Gross Gross Revenue Month Transfers Transfers Transfers Value Value Taxable Received 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 $1 11,793,300 $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 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 _fXq~[1~91giT~~@? ...T~@1 ~4;q~~,g4Q 7~'l,qg7~71~ .. '" Average 85 53 32 $65,338,662 $62,252,310 $1,238,765 Low 59 37 15 $22,986,126 $20,986,126 $466,722 High 120 83 54 $128,722,279 $120,670,279 $2,424,906 :IINIJI1t:tlIII18IS:::IOOI11'-ltI'-IIIlimIII111IBlIIII:::::::::::::::::::::::::::;:::::::::::::::::::::::::::j:::::::::::::::::::::::::i::::::i::::::::::::t:::iii::i:m::::;::I:iliiI::::::::::::::::::::m::i:::::::::::I'::::::::::::::::::::::::::::'::,: FY09 Total Exempt Taxable Total Gross Gross Revenue Month Transfers Transfers Transfers Value Value Taxable Received 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 Sep-08 76 39 37 $55,282,900 $54,882,900 $1,097,658 Oct-08 68 39 29 $52,249,003 $51,846,781 $1,043,786 Nov-08 54 32 22 $41,932,496 $41,532,496 $846,650 Dec-08 105 74 31 $51,609,065 $50,799,065 $1 ,019,981 Jan-09 59 45 14 $21,784,925 $15,984,925 $319,787 Feb-09 53 37 16 $14,330,594 $12,538,233 $239,530 Mar-09 53 42 11 $17,755,594 $15,955,594 $327,112 Apr-09 52 34 18 $39,600,613 $29,920,613 $598,412 May-09 68 43 25 $18,179,460 $14,853,400 $297,068 Jun-09 58 45 13 $10,720,838 $8,885,838 $185,717 IFX9~[774..[~Q~.'ig~~ i;..~4&4i~~~~~~9 $4?~;?4~]Q4Qf$~;....... ...... . ....... Average 65 42 22 $37,916,119 $35,603,587 $715,214 Low 52 32 11 $10,720,838 $8,885,838 $185,717 High 105 74 37 $84,318,085 $83,708,085 $1,678,162 MONTHL Y (UNAUDITED) MQNrnH~~'::Iml~IB:::lrnIT~IIJ.::I.gN,mE:(?g!I::::::':,::::::':::::::::::":.:':.:.::::.:: . . . . . . . . . . . . . . . . . . . . . . .. . . - . . ............................................ ......................................... ..........................,...... ... ............................. 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 Sep-08 76 39 37 $55,282,900 $54,882,900 $1,097,658 Oct-08 68 39 29 $52,249,003 $51,846,781 $1,043,786 Nov-08 54 32 22 $41 ,932,496 $41,532,496 $846,650 Dec-08 105 74 31 $51,609,065 $50,799,065 $1,019,981 ImHRY4YN9~~~&;g~~.i1~~. Average 72 46 26 Low 54 32 15 High 105 83 37 $49,663,573 $22,986,126 $84,318,085 $48,579,057 $20,986,126 $83,708,085 $981 ,413 $466,722 $1,678,162 IINillJ1w.M:,:tlmIIIR.,lwll1'-ltI'-II:::I.4p.r;II.:.~A~~::::::::::.:::::::::::::::::::::::':::::::? . . . . . . . . . . . . , . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .......... ......... ......................... .......... ................. ......... .... .............. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .......... .. ............. ........ ... .. ............................... . . . . . . . . . . . . . . . . . . . . . . . . . . . . .... .................................... .................... ., ................................... ... ............. ........................... ......... ................................... ......................,.......... ., ..,.... .,................,.", . ....... . . . . . . . . . . CAL09 Total Exempt Taxable Total Gross Gross Revenue Month Transfers Transfers Transfers Value Value Taxable Received Jan-09 59 45 14 $21,784,925 $15,984,925 $319,787 Feb-09 53 37 16 $14,330,594 $12,538,233 $239,530 Mar-09 53 42 11 $17,755,594 $15,955,594 $327,112 Apr-09 52 34 18 $39,600,613 $29,920,613 $598,412 May-09 68 43 25 $18,179,460 $14,853,400 $297,068 Jun-09 58 45 13 $10,720,838 $8,885,838 $185,717 Jul-09 Aug-09 Sep-09 Oct-09 Nov-09 Dec-09 [H8q~9~9~!~4~.I.g4~i..~71~1~;~7?;Qg4i~$~.~1~.~;9Q? Average 57 41 16 $20,395,337 $16,356,434 Low 52 34 11 $10,720,838 $8,885,838 High 68 45 25 $39,600,613 $29,920,613 $327,938 $185,717 $598,412 MONTHL Y (UNAUDITED) TRANSFER BUSINESS Nantucket Land Bank Commission Regular Meeting of July 14,2009 1. June 2009 Transfers - Record Nos. 29906 through 29963: a. Current "M" Exemptions: No. 29912 Catherine A. Kinsella a. Additional Information Not Provided: No. 29912 Catherine A. Kinsella b. Purchase Price Low: No. 29909 Marybeth Wise No. 29940 Fran H. Oh No. 29941 2-4 Lily Street, LLC 2. Transfer Update: a. Additional Information Provided: No. 29839 Christopher J. Martin b. Purchase Price Explanation Provided: No. 29840 Paul M. Roberts DDS, LLC b. Adjustment Paid - Request for Waiver: No. 29846 Somerset Lane LLC 3. "M" Exemption Update: a. Two-Year Domicile Compliance - Response to Inquiry: No. 27989 David Glowacki II b. Adjustment Paid - Release of Lien: No. 28026 Brian J. Joynt c. Final Payment Received - Release of Lien: No. 27919 Ryan Chadwick C:\WP60\MINDOCS1TRANSFER BUSINESS 09 1st meeting. doc