HomeMy WebLinkAbout2009-09-22
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AGENDA
Nantucket Land Bank Commission
Regular Meeting of September 22, 2009
Land Bank Meeting Room, 22 Broad Street
Nantucket, Massachusetts
CALL TO ORDER
A. EXECUTIVE SESSION
B. CITIZEN BUSINESS/ANNOUNCEMENTS
C. MINUTES OF THE REGULAR MEETING OF SEPTEMBER 8, 2009
D. PROPERTY MANAGEMENT
1. Miacomet Golf Course - Management Update
2. Miacomet Golf Course - 2010 Management Contract
3. Beach Properties - Management Policy
4. Reith Property - House Disposition
E. TRANSFER BUSINESS
F. FINANCIAL BUSINESS
1. Fiscal Year 2009 Audited Financial Statements
2. Monthly Financial Report
3. Warrant Authorization - Cash Disbursements
ADJOURNMENT
MINUTES
Nantucket Land Bank Commission
Regular Meeting of September 22, 2009
Land Bank Meeting Room, 22 Broad Street
Nantucket, Massachusetts
CALL TO ORDER: 4:03 P.M.
PRESENT: Johnson, Reinhard, Stackpole. ABSENT: Bartlett, Gardner.
A. CITIZEN BUSINESS/ANNOUNCEMENTS:
1. Reith Property - Lease Extension Request: Bruno Latici was in attendance to present a
request for the permitting and installation of a tight tank at the Land Bank's Latici property in
Madaket at Mr. Latici's expense, in exchange for his continued use of the property. Upon a motion
made and duly seconded, it was VOTED to approve his request, provided that he bear all costs
associated with permitting and installation, that he comply with all deadlines and requirements
issued by the health inspector, and that the tight tank be installed and operational by June 1,2010.
2. Donation Report: The Director reported that a donation of stock valued at approximately
$10,000 was received from abutter's to the Land Bank's Eel Point Road property, John Molot and
Hattie Ruttenberg.
Commissioner Bartlett entered the meeting at this time.
B. PROPERTY MANAGEMENT:
I. Miacomet Golf Course - Management Update:
a. Financial Report: Alan Costa was in attendance to present the August 2009 balance
sheet and profit and loss comparison.
b. Chipping Area: Mr. Costa suggested that the Commission consider creating a
practice area at the course for chipping, pitching, and bunker play.
c. Capital Improvement Plan: Mr. Costa initiated a discussion on the need for certain
capital improvements and encouraged the Commission to think about a long-term capital
improvement plan for Miacomet Golf.
C. TRANSFER BUSINESS:
1. Request for Refund - No. 30061 Tucker Family Nominee Trust: Attorney Marianne
Hanley was in attendance to present a request on behalf of the purchasers for a partial refund on the
above-referenced transfer, explaining that although they purchased the property for consideration,
according to the terms of the will, two-thirds of the property would have passed to the them by
operation of law, which would have satisfied the criteria for a partial "E" exemption. Based upon the
complete explanation and supportive documentation provided, upon a motion made and duly
seconded, it was VOTED to authorize staff to issue a partial refund of the fee in the amount of
$11,333 to be provided to the purchaser's representative.
Land Bank Commission
September 22, 2009
Page 2
2. "M" Exemption Update:
a. Five-Year Domicile and Ownership Compliance - Releases of Liens: Upon a
motion made and duly seconded, it was VOTED to authorize the issuance of a Release of Lien for
the following transfers as a result of the purchasers fulfilling all of the requirements of Section 12,
subsection (-m-):
No. 24750 Susan Johnsen
No. 24768 James E. Charnes III and Denna L. Charnes
No. 24793 Matthew G. Gurley
No. 24844 Svetozar S. Sestrimski and Daniela D. Sestrimski
3. August 2009 Transfers - Record Nos. 30025 through 30061:
a. Additional Information Not Provided: The Commission asked staff to request
additional information and/or documentation on the following transfers:
No. 30028 The Downyflake, Inc.
No. 30031 The Douglas Woodyatt Island Family LLC
No. 30032 The Douglas Woodyatt Island Family LLC
No. 30037 Robert Alexander Ernst and Julianna Ernst Geer
4. Transfer Update:
a. Purchase Price Explanation Provided - No. 30022 Michael J. Hamill and Jennie
H. Voorhees: Based upon the submission of the requested documentation supporting the stated
purchase price under Part C of Land Bank Form A, the Commission found the above-referenced
transfer to be in order.
b. Release of Lien Subject to Receipt of Payment - No. 24247 Jivko Kalpazanov
and Anna Kalpazanova: Upon a motion made and duly seconded, the Commission VOTED to
approve and execute a Release of Lien to be provided to the purchaser subject to receipt of the
outstanding Land Bank fee and penalty in the amount of $5,000 on the above-referenced transfer.
c. Litigation Update - No. 26977 Bruce A. Issadore and John Englert: The
Commission continued its discussion begun at the regularly scheduled meeting August 25, 2009,
regarding Transfer No. 26977, which has been the subject of ongoing litigation. After discussion,
the Commission adopted the following resolution by five votes in the affirmative and zero votes in
the negative:
WHEREAS, the Commission has considered the Memorandum of Decision and Order dated
December 4,2008, by Judge Elizabeth Bowen Donovan in the matter of Bruce A. Issadore and John Englert
v. Nantucket Islands Land Bank (Nantucket Superior Court C. A. No. 07-06; the "Decision").
WHEREAS, the Decision pertains in part to Land Bank Transfer No. 26977, whereby Hedgebury
Lane, LLC, conveyed to Bruce A. Issadore and John J. Englert as equal tenants-in-common the property
described as Lot 2 on the plan filed at Nantucket Registry of Deeds as Plan 03-31 ("Lot 2"), by deed
recorded May 9,2006, in Nantucket Registry of Deeds Book 1021 Page 15 (the "Transfer").
Land Bank Commission
September 22, 2009
Page 3.
WHEREAS, on Page 14 of the Decision, the Judge remanded to this Commission the issue of the
fair market value of Lot 2 as of the time of transfer, i.e., as of May 9, 2006, requiring that the Commission
determine the value in accordance with its Regulations S 2.03(2)(a) based on either the then-current assessed
value of Lot 2 or based upon an appraisal obtained by the Commission from an independent appraiser.
WHEREAS, the Commission hereby seeks to initiate procedures to establish the value applicable to
the Transfer according to the requirements of the Decision. .
NOW, THEREFORE, in consideration of the foregoing, the Commission adopts the following
resolutions:
VOTED, that the assessed value for Lot 2 in effect at the date of the Transfer is the FYE 2006 Town
of Nantucket real estate tax assessment, which was $719,000, valued as of January 1,2005, and based on Lot
2 being vacant. Since Lot 2 was subsequently improved with two houses and since the assessed value was
determined as of a date some sixteen months before the time of Transfer, the Commission hereby determines
that use of the assessed value as a measure of the fair market value of Lot 2 at that time is not an appropriate
measure.
VOTED, that the Commission shall obtain an independent appraisal of Lot 2, and the Land Bank
staff is hereby authorized to retain the services of Robert Ranney of Denby Real Estate to perform an
appraisal determining the fair market value of Lot 2 as of the date of the Transfer, being May 9,2006.
D. APPROVAL OF MINUTES: Upon a motion made and duly seconded, it was VOTED to accept,
approve, and release the regular session minutes of September 9, 2009.
E. PROPERTY MANAGEMENT:
1. Beach Properties - Management Policy: The Director initiated a discussion regarding the
current Land Bank beaches management policy and the Commission determined to leave the policy
unchanged for the time being.
2. Reith Property - House Disposition: Resource Planner/Ecologist Bruce Perry presented
letters of interest received in response to the advertisement for removal of the house from the Reith
property. Based upon a clear need and proposed year-round use of the home, upon a motion made
and duly seconded, the Commission VOTED to grant the house to Marina Cholaki.
F. FINANCIAL BUSINESS:
1. Fiscal Year 2009 Audited Financial Statements: Ms. Hunter presented a staff-prepared
Land Bank financial summary, which also included Miacomet Golf operations, based on the Fiscal
Year 2009 audited financial statements prepared and presented at the meeting of August 25,2009
by Kevin Carnes from O'Connor & Drew, P.c. Upon a motion made and duly seconded, it was
VOTED to accept the Fiscal Year 2009 audited financial statements as presented.
2. Monthly Financial Report: The Commission accepted the unaudited financial report for
the period ending August 31, 2009.
Land Bank Commission
September 22, 2009
Page 4
3. Warrant Authorization - Cash Disbursements: Upon a motion made and duly seconded, it
was VOTED to execute the September 22,2009 warrant document in the amount of$83,035.74.
G. PROPERTY MANAGEMENT:
1. Miacomet Golf Course - 2010 Management Contract: Based on a favorable review by the
Commission, it was VOTED to renew the current management contract with Nantucket Golf
Management, Inc. for an additional two years, with a $15,000 annual management fee increase but
no cost of living increase.
H. REGULAR BUSINESS:
I. Meeting of December 22, 2009 Discussion: Upon a motion made and duly seconded, it
was VOTED to cancel the regular meeting of December 22,2009.
1. 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
ADJOURNMENT: Upon a motion made and duly seconded, it was VOTED to adjourn at 6:25 P.M.
,
Attested to:
Accepted, Approved, and Released by the VOTE of
the Commission this 13th day of October, 2009.
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TRANSFER BUSINESS
Nantucket Land Bank Commission
Regular Meeting of September 22, 2009
I, Request for Refund - No. 30061 Tucker Nominee Trust
2. "M" Exemption Update:
a. Five-Year Domicile and Ownership Compliance - Release of Lien:
No. 24750 Susan Johnsen
No. 24768 James E. Charnes III and Denna L. Chames
No. 24793 Matthew G. Gurley
No. 24844 Svetozar S. Sestrimski and Daniela D. Sestrimski
3, August 2009 Transfers - Record Nos. 30025 through 30061:
a, Additional Information Not Provided:
No. 30028 The Downyflake, Inc.
No. 30031 The Douglas Woodyatt Island Family LLC
No. 30032 The Douglas Woodyatt Island Family LLC.
No. 30037 Robert Alexander Ernst and Julianna Ernst Geer
4. Transfer Update:
a. Purchase Price Explanation Provided:
No. 30022 Michael 1. Hamill and Jennie H. Voorhees
b. Release of Lien - Subject to Receipt of Payment:
No. 24247 Jivko Kalpazanov and Anna Kalpazanova
c. Litigation Update:
No, 26977 Bruce A. Issadore and John Englert