The URL can be used to link to this page

Home My WebLink About2010-01-12 AGENDA Nantucket Land Bank Commission Regular Meeting of January 12, 2010 Land Bank Meeting Room, 22 Broad Street Nantucket, Massachusetts CALL TO ORDER A. EXECUTIVE SESSION B. PROPERTY MANAGEMENT 1. Miacomet Golf Course - Manager's Update C. CITIZEN BUSINESSI ANNOUNCEMENTS D. MINUTES OF THE REGULAR MEETING OF DECEMBER 8, 2009 E. TRANSFER BUSINESS F. FINANCIAL BUSINESS 1. Monthly Financial Report 2. Monthly Transfer Statistics 3. Warrant Authorization - Note #31, Bachman 4. Warrant Authorization - Cash Disbursements G. REGULAR BUSINESS 1.2010 Annual Town Meeting Discussion H. PROPERTY MANAGEMENT 1. Ray Property - Boathouse RelocationlRenovation Update 2. Gaillard Property - Building Alteration Update 3. Latici Property - English Settlers Landing Monument Proposal 4. Nobadeer Farm Road - Property Management Update 5. Town Beaches - Management/Ownership Concept Update ADJOURNMENT -l,?, I~J . - o '- :::=> z N -.J :t:> \0 ~ W ~C/ ::0 rn ~:-::~ MINUTES Nantucket Land Bank Commission Regular Meeting of January 12,2010 Land Bank Meeting Room, 22 Broad Street Nantucket, Massachusetts CALL TO ORDER: 4:03 P.M. PRESENT: Gardner, Johnson, Reinhard, Stackpole. ABSENT: Bartlett. 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. PROPERTY MANAGEMENT: 1. Miacomet Golf Course - Management Update: a. Financial Report: Alan Costa was in attendance to present the balance sheet and budget comparison through December 2009 and answered questions from the Commission regarding the proposed 2010 budget previously provided by electronic correspondence. Upon a motion made and duly seconded, the Commission VOTED to approve the budget as presented. b. Bag Storage and Practice Area Update: Mr. Costa updated the Commission on the project and reported that he had received all necessary permits for the project, the footings had been installed and that Toscana would be moving the buildings within the next two weeks. c. Play Card for Land Bank Employees: Mr. Costa suggested the idea of offering a 15-round play card play card for use by Land Bank staff as an additional benefit and the Commission responded favorably to the concept. d. Golf Course Housing Update: Mr. Costa reported that in order to cut costs, he would be shutting down a few houses until April and updated the Commission on repairs being done at the Bamber house. C. CITIZEN BUSINESSI ANNOUNCEMENTS: None. D. APPROVAL OF MINUTES: Upon a motion made and duly seconded, it was VOTED to accept, approve and release the regular session minutes of December 8, 2009. E. TRANSFER BUSINESS: 1. December 2009 Transfers - Record Nos. 30333 through 30446: a. Current "M" Exemptions and Liens: The Commission authorized placing liens against the following purchasers' property as a result of their claiming the "M" exemption as I:and Bank Commission January 12,2010 Page 2 first-time buyers of real property: No. 30347 Michelle Meckler No. 30358 Eric Shoemaker and Meghan Wiley No. 30379 Desmond St. John Wixted and Kristina Wixted b. Additional Information Required: The Commission asked staff to request additional information and/or documentation from the purchasers to support the exemption claimed on the following transfers: No. 30375 Bank of America, NA No. 30403 Nicholas Heras, Jr. No. 30406 Richard Forhan Cahill Trust No. 30430 Filipski Qualified Personal Residence Trusts c. Purchase Price Documentation Required: 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. 30334 JosefVolman and Dana Volman No. 30340 David C. Schmittlein and Barbara A. Bickart No. 30342 John T. Nutting and Debra M. Nutting No. 30398 Robert Cannon No. 30399 32 Polpis Road, LLC 2. Transfer Update: a. Additional Information Provided - No. 30260 Paul H. McDonnell and Penelope F. McDonnell: Based upon the submission ofa satisfactorily completed Form B, the Commission found the above-referenced transfer to be in order. b. Purchase Price Documentation Provided: Based upon the submission of the requested documentation in support of the stated purchase price, the Commission found the following transfers to be in order: No. 30282 Brenda J. Bierly and Maxwell P. Jones No. 30292 Nathan G. Barber and Beau A. Barber c. Adjustment Paid / Release of Lien - No. 26977 Bruce A. Issadore and John Englert: Administrator/Fiscal Officer Jesse Bell reported that payment had been received in the amount of $7,681.24, representing the accrued interest owed on the above-referenced transfer. Upon a motion made and duly seconded, the Commission VOTED to execute a Release of Lien to be provided to the purchasers with the understanding that there was a provision in the release specifying that it was not to be interpreted as a release of any claims or rights arising out of the dispute which is the subject of litigation between the Land Bank, Bruce A. Issadore and John J. Englert in Nantucket Superior Court Case No. 07-06. Land Bank Commission January 12,2010 Page 3 d. Notice of Assessment / Unreported Transfer of Beneficial Interest -76 Golfinch Drive Realty Trust: Ms. Bell explained that there was an unreported transfer of beneficial interest which transpired on or around May 15,2009 and that the underlying ownership information provided in Land Bank Record No. 22276 did not list the interest recipient as a beneficiary ofthe trust at the time of its formation. Upon a motion made and duly seconded, it was VOTED to issue a Notice of Assessment for the outstanding Land Bank fee, plus penalty and accrued interest since the approximate date of the transfer based on an estimate of fair market value of the property as determined by the Town of Nantucket FYE 2009 assessed value. e. Supplemental Forms, Documentation and Transfer Instrument Received / Release of Lien - No. 30071 Thomas M. O'Connor and Jeremy S. O'Connor: Based on the submission of supplemental forms, supportive documentation and confirmatory deed correcting the discrepancies that existed in regards to the above-referenced transfer, the Commission VOTED to rescind the Notice of Assessment dated November 10,2009, authorize and execute a Release of Lien, and asked staff to notify the purchasers that the hearing scheduled for January 26, 2010 has been cancelled. 4. "M" Exemption Update: a. Five-Year Domicile Compliance / Release of Lien - Upon a motion made and duly seconded, it was VOTED to authorize the issuance of Releases of Liens for the following transfers as a result of the purchasers fulfilling all of the requirements of Section 12, subsection (-m-): No. 25224 Mary J. Cowell No. 25231 Vesselin T. Nakov and Ivelina Nakova No. 25234 Graeden R. Ambrose and Lauren A. Ambrose No. 25278 Robert A. Morgenstern and Samantha Parsons F. FINANCIAL BUSINESS: 1. Monthly Financial Report: The Commission accepted the November 2009 financial including the balance sheet and income statement. 2. Monthly Transfer Statistics: Monthly transfer statistics reports comparing calendar years 2008 and 2009 and fiscal years 2009 and 2010 through December 2009 were presented. 3. Warrant Authorization - Note No. 31, Bachman: Upon a motion made and duly seconded, it was VOTED to authorize the transfer of funds for payment of the principal and interest due on Land Bank Note No. 31 held by Michael S. Bachman, Trustee of the 158 Orange Street Realty Trust and to issue a check payable to Mr. Bachman in the total amount of $840,000. .tand Bank Commission January 12,2010 Page 4 G. REGULAR BUSINESS: I. 20 I 0 Annual Town Meeting Discussion: The Director reviewed several rezoning articles that could affect Land Bank property adjacent to the Miacomet Golf Course clubhouse facility. The Commission voiced concerns regarding the proposed changes and asked the Director to work towards a compromise solution. H. PROPERTY MANAGEMENT: 1. Ray Property - Boathouse RelocationlRenovation Update: Resource PlannerlEcologist Bruce Perry presented cost estimates for the Commission's review. Based on the high cost of renovating and other issues the Commission decided to only stabilize the structure and make it weather tight. 2. Gaillard Property - Building Alteration Update: Mr. Perry presented cost estimates for the partial demolition of the Gaillard house and subsequent carpentry work which would be required to rebuild the walls and make the house weather proof. The Commission approved Mr. Perry's recommendation to grant the demolition and removal work to Atlantic Aeolus and carpentry work to Kyle Snell. 3. Latici Property - English Settlers Landing Monument: Commissioner Reinhard presented a request to install an inscribed stone designed by Neal Paterson commemorating the coming together of the Wampanoag Indians and European Settlers after the house is removed from the Latici property. Upon a motion made and duly seconded, the Commission VOTED to approve the request as presented. Commissioner Gardner left the meeting at this time 4. Nobadeer Farm Road - Property Management Update: The Director reported that some complaints had been received regarding the outdoor lighting at the paddle courts managed by Nantucket Paddle Tennis Association (N.P.T.A.) on Land Bank property. The Commission asked the Director to make sure the lighting issue gets corrected in order to maintain good relations with the neighborhood. 5. Town Beaches - Management/Ownership Concept Update: The Director provided an update on a discussion regarding the concept of conveyance of Town owned beaches to the Land Bank that occurred at the Beach Management Advisory Committee. 6. Carter Property: Mr. Perry presented price estimates for the removal of waste tainted soil and filling of the cesspools from the Land Bank's Carter property and the Commission accepted Mr. Perry's recommendation to award the job to Miles Reis. Land Bank Commission January 12,2010 Page 5 1. TRANSFER BUSINESS: 1. Litigation Update - No. 26977 Bruce A. Issadore and John Englert: Ms. Bell provided an update on the status of the pending appraisal related to the above-referenced transfer which has been the subject of ongoing litigation. In light of Rob Ranney's withdrawal from doing the appraisal, the Commission adopted the following resolution by three 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"). 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 l, 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 Chip LaBonte of Westwood Evaluation Group to perform an appraisal determining the fair market value of Lot 2 as of the date of the Transfer, being May 9, 2006. Land Bank Commission January 12,2010 Page 6 ADJOURNMENT: Upon a motion made and duly seconded, it was VOTED to adjourn at 6:54 P.M. Attested to: Accepted, Approved, and Released by VOTE of the Commission this 26th day of January 2010. en o o N 1-0 WM Wo::: :I:W enm ~~ O:::w 0> ~O zZ 0- _ 0 en III en CO -I- ~o::: ~O OD., Uw ~o::: Z-J <C<C m(3 OZ Z<C <Cz -J~ 1-0 Ww ~t:: ::JO I-::J Z<C <CZ Z::J en c c ~ c eo') - .... .... ~ ~ ~ ~ ,...: ,...: Lri 0; N I"- exl Ltl Ltl 'Ot. N M ~(O~~ Ell M. 'Ot O. 'lCt ......~ T"" Ell Ell Ell en c C N - .... eo') - C .... I"- M exl 'Ot ~~:;~ :;; ~ 0 ~ Lli 1"-' ..j ,...: N M M exl Ell N 'Ot O. ~:;;;; C ..J W >= ~ Z o 0 C"') N T"" ..... L{) ...,. oONo C ..J W >= .... u e o 0 M 0 T"" ..;t 1.0 L() oONo en c Z ::J u. C w 0 b 0 ~ C") ~ I- '" ~ ffl gs ~ .~ ~ CXl;::-5 z CXl C '" ::J x::J C") "COT"" CLlT"" en ::JLlX I- u. <X: 0 0> Z OlCOI'-- ::J .5.Q _ ~ o ro tl.!l1 x o Q)~~1: o o.Oo.::J <Cooeng u. ---Ll o ..:.::..:.::..:.:: <X: I- ccc,e Z rororoen co co co ro W Cii Cii Cii 0 ::::!: ..:.::..:.::..:.::- W LlLlLlf- ~ .a.a::Jo ..... C C 1: "'" I- rororoo::: en zzz~ co ..... .,; 'Ot co ..j .... en N .... ... .... U) ~ ..... co -i co ?"- M .... ... in c Z ::l LL. C W .... u 52 .... en w a:: z ::l ..J < .... e .... en c c ~ c eo') - .... .... o Ltl 0> :;j:ci~ co 0)<<) COMI"- NLlicO O>OM 'Otexl.... NfA-~ Ell Ell exl Ltl exl 0 0 ~~:~~ C)(Omo1.O Ltl 0 0 Ltl co cO",,:"":"":EIl LO ~ 0 r--- Ell N 0> Ell Ell en c C N - .... eo') - c .... "'.......,... 1.t)1.t)0) 00 1,()T""......~I.t)~OO a:iccioi,...a;)Ncid ~M:!:2~~~~ ,...:Z;McrS"":"':N~ffl exl M Ltl Ell 0 'Ot -.:t ,...t/7 NEA- ~;; Ell C ..J W >= ~ z MOCOOLtlN LtlMO>~'Ot'Ot NO"'; 00 C ..J W >= .... u e MOCOOLtlO Ltl M 0> ~ 'Ot Ltl NO"'; 00 en c Z ::J U. C W I- o ~ I- en W ~ en I- z ::J o o o <C u. o I- Z W ::::!: W I- ~ en o .... o ~ "" III '" "0 ~ ~ ~ <')00. Ll ~~8 en (.)"C('l oUJ ccc~ ~c ~ ::J ~ co' .Q j!l "C u. .... ~ ~ 'iii 5 ~ ~ CXl CXl .... '5 0 u. .- "0 C") '" .S: 0" g. C:C")OOELlO ~~~'X~ [<X: >- a.>-N3:3: en:!: en'oXooC")E:5 a.>a.>Ouu:2JGLl 0::: 0 0 en en 0 = ,~ enen UJUJx~w -g-g~O::2:g;,e1: OO~<x:o:::t;..Llro cocoo.:::cu.a.>j!l~ <x:<x:enenz~ijll- enen---O:::o- .~ .~ -E -E -E ~ - -E a.>a.>rororo,O":'::ro enencococololijco ::::CiiCiiCii::2:COCii cc":'::":'::":'::-en":':: ro ro Ll Ll Llf- C Ll coco.a.a.ao~.a enenlijlijlij::2:;elij :J:Jzzz::2:OZ U) .... N l"- I"- M co co iii ... en co aci .... I"- -i l') en M ... in c Z ::l LL. C W .... u 52 .... f/) w a:: ..J ~ e .... eo') ~ .... N oo:t rti c (Q rti .... ~ .... N M en It) a) .... I'-- ,..: .... ~ en c Z ::J u. ..J <C I- o I- f/) - c Q) E >- III Q. iij :J C C c( co I"- cO co Ltl cO 0> O. ;; Q) :J C - c Q) E >- III Q. Cl c :c c III - f/) - ::J o iij 0. 'u C ';: Q. iri c z o aJ o o Lri N 'Ot C"i M M, ;; o ~ ~ III -5 Cii ~ .Sl oS o. ~ ~ III -5 Cii ~ .Sl oS "0 c: '" Iii .s. o .~ a.. o S t::: III -5 Cii ~ .Sl oS "0 c: '" Iii .s. o .c: ct ~' ..... S III -5 Cii ~ .Sl oS o o o Lli N co t- Ell o 0 o 0 o 0 o iii Ltl ..... .... ..... N cti .... .... Ell ... R' ~ ~ a.>~ ::Je: en III en [ <x:~ ~Iii .;: .!t a.> .~ enCi. t;1ii o .S: N~ C\l '" o I::::! .... a.> t::: ::J e: f/) III f/) [ <X: ~ in ~ Iii C ';: .!t ~ ,~.~ lXl 'U Q. ..J ~ Iii ~ o .S: e N!:!::. .... co ..... M en en 0; .... 'It N ... in .... z w :i >- :: C z e lXl ..J < ::l Z Z < ..J ~ e .... f/) - c Q) E >- III Q. iij :J C c <C Q) :J C - c Q) E >- III Q. Cl c :c c III - f/) - :J o iij c. 'u c ';: Q. en W I- o Z o 'Ot -.i I"- o C"i o ;; o ~ 01 0' ~ 0' ~ o. ~ ~ .... III -5 o co 0:) ~ 10' '" .... ..... o Cii ~ .Sl oS o o o o o 1"-. .... Ell 0> T"" =l:l: a.> (5 Z a.> :0 .... ro ::2: o o o o o o cil; Ell o .... o ~ I::::! .... c: o III -5 Cii ~ .Sl oS "0 c: '" Iii .s. o .~ a.. o o o o o o C"i Ell T"" C") =l:l: a.> - o Z c ro E ,e Ll ro co e 'It ~ l"- e M 'It en ... (Q .... cxi (Q c M ..... eo') M ~ in .... Z w :::E >- < a.. w .... e z ..J < ::l Z Z < ..J < .... e .... e e e o e ..... -i ... in w .... e z ..J ~ e .... c ;: ~ ~ i:! ~ C/) en I- Z W ::::!: > c( Q. I- aJ W C ..J <C ::J Z z <C ..J ~ o I- c c c Iti' ..... oo:t~ .... eo') ~ ~ '" c: III Q. '5 o :5 .~ "0' ~ III Q) <:: "" t=-: aJ W C ..J ~ o I- Ill' ~ ~ '" <0 OJ .~ ~ :5 .~ ..... o "" III c: Q) .Q III :5 :5 .~ a (.) :5 <:: o E c-:. .... ~ MmH.rnfflfYm~~fjIB~OO~j;'lm~.::IAJfgNlg..lqp~ CAL08 Month Jan-08 Feb-08 Mar-08 Apr-08 May-08 Jun-08 Jul-08 Aug-08 Sep-08 Oct-08 Nov-08 Dec-08 IJ9TAl, Average Low High Total Exempt Taxable Transfers Transfers Transfers 81 46 35 68 44 24 59 38 21 61 37 24 98 83 15 68 41 27 65 38 27 63 38 25 76 39 37 68 39 29 54 32 22 105 74 31 72 54 105 46 32 83 26 15 37 .. ....... ........................ .. ................... . . . . . . . . . . . . . . . . . . . . . . . ....................... ....................... :...;.;.....:.;.;.;.:-:-:<-:-:.;.:-:-:.:.;.:.;.:.;.:.;.>>:.:.:.:.;.;.>;.>......;..>>>:.;.:.:.:.;.;.:.:.:.;.:.:-:.;<.;<...:.;.................. .;.;.;::.::::::::;.:::-:.;::-:-:.;:::::::;.:::.;.;.;.:-:.;.;.;.;::.;.;.;.:::::::::.;.:.;.;.:.:.::>:-:.;.;.;.;::.;.:.;.:-:.;.;<.;::::::.;:::.:........... ............................................................................................................................-... Total Gross Gross Revenue Value Value Taxable Received $71,587,030 $68,587,030 $1,389,068 $42,748,590 $42,348,590 $858,972 $40,306,700 $39,606,700 $794,934 $36,321,250 $35,921,250 $722,425 $22,986,126 $20,986,126 $466,722 $49,391,772 $46,394,550 $929,891 $47,229,858 $46,335,111 $928,702 $84,318,085 $83,708,085 $1,678,162 $55,282,900 $54,882,900 $1,097,658 $52,249,003 $51,846,781 $1,043,786 $41,932,496 $41,532,496 $846,650 $51,609,065 $50,799,065 $1,019,981 ..$~$~,~~g~~?&:/.......$~~?~~4~,~~..... ........ cC.cCc' $49,663,573 $48,579,057 $981,413 $22,986,126 $20,986,126 $466,722 $84,318,085 $83,708,085 $1,678,162 M~Nwl4.M::lli~~mF.I.~wl1;~$lliJII.~~w~I~.~~~I::,: .................. ................... .................. ................... .................. ................... .................. . . . . . . . . . . . . . . . . . . . .................. ................... ................................ ." .... ::::::::::::::::::::::::::::;:::::;:::::::::::::::::::::::::::;:;:::;:: ..... ... ............ ........................... ........................................-. ........................................ .................................. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ... .................... ............................................... ........ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .... .................... ...................... CAL09 Total Exempt Taxable Total Gross Gross Month Transfers Transfers Transfers Value Value Taxable Jan-09 59 45 14 $21,784,925 $15,984,925 Feb-09 53 37 16 $14,330,594 $12,538,233 Mar-09 53 42 11 $17,755,594 $15,955,594 Apr-09 52 34 18 $39,600,613 $29,920,613 May-09 68 43 25 $18,179,460 $14,853,400 Jun-09 58 45 13 $10,720,838 $8,885,838 Jul-09 61 41 20 $44,644,114 $42,991,125 Aug-09 37 25 12 $17,214,552 $12,649,226 Sep-09 92 46 46 $67,744,386 $64,608,073 Oct-09 85 38 47 $90,032,410 $87,070,640 Nov-09 94 60 34 $61,669,385 $57,127,164 Dec-09 114 78 36 $60,119,575 $49,272,425 Average Low High 69 37 114 45 25 78 24 11 47 $38,649,704 $10,720,838 $90,032,410 $34,321,438 $8,885,838 $87,070,640 Revenue Received $319,787 $239,530 $327,112 $598,412 $297,068 $185,717 $878,323 $252,985 $1,280,828 $1,741,413 $1,150,543 $985,449 . >._.~ $688,097 $185,717 $1,741,413 MONTHL Y (UNAUDITED) 'M~Nmlbl)::m.tj~ffill::~mi]~lrn~HI::::~~IIIM::M.I:::lqll::::::::::'::::::':::::::::::::::::':::'::::::::::::':::::::::'::::'::::::::::':::':::,::::::::::::::'::':':'::::::::::::::,,::::::::::::::':::::::::::::::::::::::::::':::::::::::::::,,:::::,:::,::::::::,::: FY09 Total Exempt Taxable Total Gross Gross Revenue Month Transfers Transfers Transfers Value Value Taxable Received Jul-08 65 38 27 $47,229,858 $46,335,1 1 1 $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-O 8 105 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 1 1 $17,755,594 $15,955,594 $327,1 12 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 IJHR9pgQ~i4m1Ig@Q!171 )i ............. ..... Average 65 42 22 $37,916,1 19 $35,603,587 $715,214 Low 52 32 1 1 $10,720,838 $8,885,838 $185,717 High 105 74 37 $84,318,085 $83,708,085 $1 ,678,162 :MONMH:llY:':XRiANSFER':'SMAl'ISXn::::S::':FISSAttmtS.AAt2Iifo.':,:,:,:,:,:,:,:,:,:::::,:,:::,:,:::,:,:,:::,:,:,:::,:,:,:,:,:,:,:,:,:,:,:,:,:,:,:,:::::,:,:,:,:,:,:::,:,:,:::,:,:,:::,:,:::::::,:,:::,:::,:::,:::,:::,:::,:::,:,:,:,:,:,:,:::::,:,:::,:::,:,:,:::::,:,:::,:::,:::::::,:::,:::,:::::,:,::::: . ',' ',,' ....,'. ......." ".." . ..... ',,', ',",. ',", ...... .... ,', ...... ..........', " . ,',',' .... ...............',...............,...,..'.....'.....'.......'.....'..,..................'................,................'.............................'.....'..............,......................'.'......,........'...................... :.,.;.:.,.:.,:.::.;...;:..:::.,,:::.,:;:..;.,:.:,:;=..;:;:;::::..:;...;::..:..:::.....;:...::..:..:...;:::...:.:.:.':::":;::::":'-:::"'::"::::"':"':;"':":"::::":::".;.;:.::.:..:..:.::::..:::::..::..:..:::..:..:..,:::......:.:::;:;:...;;....:.:..::;::.....;:...;;:.....:;.::..::;...;::..,::;:::;;;:;:::::::;:;:;:;:;:;:;:::;:;:::;:;:::::::::;:::::;:;::;;:::;::::;;:;:::;:;:;::;;::;;;:::;::;;:;:;:;::;:;;;;:::;:::::::;;;::;:::~::;;;:::::;;::;:::::;:;:::::::;:::::;;::;:::::::::::::::;:;:::;;;:;::;;;;:;:;:;:;;;:;:;::;;;:;:;;::: FY10 Total Exempt Taxable Total Gross Gross Revenue Month Transfers Transfers Transfers Value Value Taxable Received Jul-09 61 41 20 $44,644,1 14 $42,991 ,125 $878,323 Aug-09 37 25 12 $17,214,552 $12,649,226 $252,985 Sep-09 92 46 46 $67,744,386 $64,608,073 $1 ,280,828 Oct-09 85 38 47 $90,032,410 $87,070,640 $1 ,741 ,413 Nov-09 94 60 34 $61 ,669,385 $57,127,164 $1 ,150,543 Dec-09 1 14 78 36 $60,1 1 9,575 $49,272,425 $985,449 Jan-10 Feb-10 Mar-10 Apr-10 May-10 Jun-10 ....... Average 81 48 33 $56,904,070 $52,286,442 $1 ,048,257 Low 37 25 12 $17,214,552 $12,649,226 $252,985 High 1 14 78 47 $90,032,410 $87,070,640 $1 ,741 ,413 I MONTHL Y (UNAUDITED) , TRANSFER BUSINESS Nantucket Land Bank Commission Regular Meeting of January 12, 2010 1. December 2009 Transfers - Record Nos. 30333 through 30446: a. Current "M" Exemptions: No. 30347 Michelle Meckler No. 30358 Eric Shoemaker and Meghan Wiley No. 30379 Desmond S1. John Wixted and Kristina Wixted b. Additional Information Required: No. 30375 Bank of America, NA No. 30403 Nicholas Heras, Jr. No. 30406 Richard Forhan Cahill Trust No. 30430 Filipski Qualified Personal Residence Trusts c. Purchase Price Documentation Required: No. 30334 JosefVo1man and Dana Volman No. 30340 David C. Schmittlein and Barbara A. Bickart No. 30342 John T. Nutting and Debra M. Nutting No. 30398 Robert Cannon No. 30399 32 Polpis Road, LLC 2. Transfer Update: a. Additional Information Provided: No. 30260 Paul H. McDonnell and Penelope F. McDonnell b. Purchase Price Documentation Provided: No. 30282 Brenda J. Bierly and Maxwell P. Jones No. 30292 Nathan G. Barber and Beau A. Barber c. Adjustment Paid - Release of Lien: No. 26977 Bruce A. Issadore and John Englert d, Notice of Assessment: Unreported Transfer of Beneficial Interest within 76 Goldfinch Drive Realty Trust 3. Transfer Hearing Update: a, Supplemental Forms, Documentation and Transfer Instrument Received - Release of Lien: No. 30071 Thomas M. O'Connor and Jeremy S. O'Connor 4. "M" Exemption Update: a. Five-Year Domicile Compliance - Release of Lien: No. 25224 Mary J. Cowell No. 25231 Vesse1in T. Nakov and Ivelina Nakova No. 25234 Graeden R. Ambrose and Lauren A. Ambrose No. 25278 Robert A. Morgenstern and Samantha Parsons C:\WP60IMINDOCS\TRANSFER BUSINESS 10 1st meeting.doc