HomeMy WebLinkAbout2010-08-24
AGENDA
Nantucket Land Bank Commission
Regular Meeting of August 24,2010
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 AUGUST 10,2010
D. PROPERTY MANAGEMENT
1. Miacomet Golf Course - Manager's Update
2. Low Beach Road Property - Use Request
3. Ladies Beach Property - Use Request Modification
4. Codfish Park Beach - Use Request
5. Snow/Muskeget Conservation Restriction
E. TRANSFER BUSINESS
F. FINANCIAL BUSINESS
1. Monthly Financial Report
2. Warrant Authorization - Cash Disbursements
3. Bachman Note - Modification Discussion
G. REGULAR BUSINESS
ADJOURNMENT
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MINUTES
Nantucket Land Bank Commission
Regular Meeting of August 24,2010
Land Bank Meeting Room, 22 Broad Street
Nantucket~Massachusetts
CALL TO ORDER: 4:08 P.M.
PRESENT: Bartlett, Gardner, Johnson, Reinhard, Stackpole.
STAFF PRESENT: Eric Savetsky, Executive Director; Jesse Bell, Administrator/Fiscal Officer;
Susan Campese, Assistant Administrator.
A. EXECUTIVE SESSION: Upon a motion made and duly seconded, it was VOTED to go into
executive session in order to discuss the purchase, exchange, lease or value of real property. Each
member was polled individually. All members voted yes. The Chairman declared that discussion of
these matters in open session may be detrimental to the Land Bank's negotiating position and that
the Commission would reconvene into regular session following executive session.
Commissioner Gardner left the meeting at 5:00 p.m.
RETURN TO OPEN SESSION
Resource Planner/Ecologist Bruce Perry and Miacomet Golf Course General Manager, Alan Costa
entered the meeting at 5:35 p.m.
B. CITIZEN BUSINESS/ANNOUNCEMENTS: None.
C. PROPERTY MANAGEMENT:
1. Low Beach Road Property - Use Request: Mr. Savetsky presented a request from The
Summer House restaurant to hold a birthday party for their head chef on Saturday, August 28, 2010
from 5 to 10 p.m., asking for permission to set up a tent with no tables, chairs or food service inside.
Upon a motion made and duly seconded, it was VOTED to approve the request, provided the
restaurant owners inform the neighbors in advance of the event.
2. Miacomet Golf Club - Manager's Update:
a. Financial Report: The Commission reviewed the balance sheet and profit and loss
comparison through July 31,2010. Mr. Costa pointed out that income was down slightly from last
year primarily due to less initiation fees this year.
b. Insurance Claim: Mr. Costa reported that he would be filing an insurance claim for
damage to the irrigation system and several computers caused by lightning in a recent thunderstorm.
Land Bank Commission
August 24,2010
Page 2
c. Year-End Party: Mr. Costa reminded everyone that there was a year-end party and
golf tournament scheduled for August 25,2010 at 6:30 p.m.
d. Driving Range Brush Discussion: Mr. Costa inquired as to whether the brush on
the far end of the driving range could be trimmed so that golf course staff could use the golf picker
to retrieve thousands of golf balls. Mr. Perry indicated that the area could be cut after the plants
entered their dormant season, and further, thatit would be permissible to install netting around the
perimeter to prevent golf balls from leaving the driving range.
Mr. Costa left the meeting at 5:46p.m.
D. APPROV AL OF MINUTES: Upon a motion made and duly seconded, it was VOTED to accept,
approve and release the regular session minutes of August 10,2010, as written.
E. PROPERTY MANAGEMENT:
I. Ladies Beach Property - Use Request Modification: Mr. Savetsky presented a request
from Nantucket Clambake Company to increase the number of guests from 40 to 60 people for the
previously approved clambake on September 4,2010 at Ladies Beach. Mr. Savetsky recommended
that the Commission approve the request with the modification that the location be changed to
Miacomet Beach. Upon a motion made and duly seconded, the Commission VOTED to approve the
request with the modification recommended by Mr. Savetsky.
2. Codfish Park Beach - Use Request: Mr. Savetsky presented a request from Kim Reed of
A Taste of Nantucket to hold a wedding ceremony at Codfish Park Beach from 3:30 to 6 p.m. on
Saturday, September 11,2010, with 120 guests in attendance and proposed set up of 100 chairs, a
wedding arch and flower arrangements. Upon a motion made and duly seconded, the Commission
VOTED to approve the request with the stipulation that guests be shuttled to and from the beach
due to lack of parking at the site.
3. Snow/Muskeget Conservation Restriction: Mr. Savetsky reported on making a site visit
to Muskeget Island with Cormac Collier, Executiv~ Director of the Nantucket Land Council, to
view the new location of the Snow building and presented pictures of both locations to the
Commission. In addition, Mr. Savetsky informed the Commission that the newer section of the
Holdgate building was destroyed by a lightning strike and.subsequent fire. He expected that the
owners, Steve Holdgate and Jason Briggs, would be coming to the Commission at some point with
a new lease proposal and plans to rebuild.
F. TRANSFER BUSINESS:
1. Transfer Update:
a. Additional Information Provided - No. 30871 Brant Point Courtyard
Condominium Trust: Based upon the submission of a satisfactorily completed Form B, Part G
Land Bank Commission
August 24, 2010
Page 3
(Seller's Affidavit), 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. 30854 George Drapeau and Sheila Drapeau
No. 30863 Sandra Morgan
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 Releases of Liens for
the following transfers as a result of the purchasers fulfilling all of the requirements of Section 12,
subsection (-m-):
No. 25753 Alessandra Soares
No. 26060 Richard P. Beaudette and Richelle L. D'Elia
b. Five- Year Domicile Non-Compliance Discussion/Notice of Assessment - No.
25319 Ronny Arias: Ms. Bell informed the Commission the purchaser had not responded to
repeated attempts to contact him and Ms. Campese spoke to his brother and was told Mr. Arias had
moved back to the Dominican Republic in November 2009. Based upon a failure to comply with
the "actual domicile" requirement of the "M" exemption, 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 date of the transfer.
c. Termination of Liens - Policy Discussion on Collections: Ms. Bell explained that
Section 13 (-c-) of the Land Bank Act states that Land Bank liens "...shall in any event terminate
not later than six years following the time of the transfer" and reviewed the advice of legal counsel,
who recommended stepping up the collection activities on some of the Land Bank's outstanding
liens which are getting old. After a discussion, upon a motion made and duly seconded, it was
VOTED to have Ms. Bell, under the guidance of legal counsel, pursue collections in court against
delinquent purchasers when all other avenues of collection have been exhausted.
G. FINANCIAL BUSINESS:
1. Monthly Financial Report: The Commission accepted the July 2010 fmancial report
including the balance sheet and income statement previously provided by electronic
correspondence. Further, Ms. Bell recommended that $1,000,000 be moved out of the
, Massachusetts Municipal Depository Trust (MMDT) cash account to a Certificate of Deposit with
liquid terms at Cape Cod Five Saving Bank because it offered a significantly higher interest rate.
Upon a motion made and duly seconded, it was VOTED to approve the transfer of funds as
recommended by Ms. Bell.
2. Warrant Authorization - Cash Disbursements: Upon a motion made and duly seconded,
Land Bank Commission .
August 24, 2010
Page 4
it was VOTED to execute the August 24,2010, warrant document in the amount of$51,357.40 to
be provided to the county treasurer.
3. Bachman Note - Modification Discussion: Mr. Savetsky summarized a two-part request
from Michael Bachman, asking first that the Land Bank provide the second payment due under
Bachman Note No. 31 one month early, and in exchange, he would relinquish the front house on the
Bachman property one year earlier. Secondly, Mr. Bachman proposed that if the Land Bank would
consider paying the final payment principal payment ($750,000) in conjunction with the next
upcoming payment, he would relinquish the front house immediately. After a discussion of the
Land Bank's financial position at the moment, upon a motion made and duly seconded, it was
VOTED to amend the note to make all future payments due in December rather than January each
year, but not to double up on principal payments in December 2010.
H. REGULAR BUSINESS: None.
ADJOURNMENT: U on a motion made and duly seconded, it was VOTED to adjourn at 6:24 P.M.
Attested to:
Accepted, Approved, and Released by VOTE
of the Commission this 14th day of September, 2010.
John J
DOCUMENTS AND EXHffiITS
Nantucket Land Bank Commission
Regular Meeting of August 24,2010
Documents and Exhibits List
1. Beach Permit Application for The Summer House event on August 28, 2010
2. Miacomet Golf Balance Sheet and Profit and Loss Comparison through July 31, 2010
3. Beach Permit Modification Request from Nantucket Clambake Company
4. Beach Permit Application from A Taste of Nantucket for event on September 11, 2010
5. Form B for Land Bank No. 30871 (Confidential)
6. Purchase Price Documentation for Land Bank Nos. 30854 and 30863 (Confidential)
7. Five-Year Domicile and Ownership Compliance Release of Liens
8. Notice of Assessment for Land Bank No. 52319
9. Email from Valerie Swett regarding Land Bank collections
10. July 2010 unaudited financial statement, including balance sheet and income statement
11. Warrant Authorization dated August 24, 2010
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TRANSFER BUSINESS
Nantucket Land Bank Commission
Regular Meeting of August 24, 20 I 0
1. Transfer Update:
a. Additional Information Provided:
No. 30871 Brant Point Courtyard Condominium Trust
· Received Form B, Part G (Seller's Affidavit)
b. Purchase Price Documentation Provided:
No. 30854 George Drapeau and Sheila Drapeau (38 Madaket Road)
· Received fully-executed 1099-S Substitute Form from Richard Loftin (no P&S available)
· Purchase Price $500,000 / Assessed at $752,000 / 66% of Assessed Value
No. 30863 Sandra Morgan (59 Center Street - 13.33% interest)
· Received fully-executed 1099-8 Substitute Form from Richard Loftin (no P&S available)
· Purchase Price $133,334 / Assessed at $285,636 /47% of Assessed Value
2. "M" Exemption Update:
a. Five- Y ear Domicile Compliance - Release of Liens:
No. 25753 Alessandra Soares
No. 26060 Richard P. Beaudette and Richelle L. D'Elia
b. Five-Year Domicile Non-Compliance Discussion - Notice of Assessment:
No. 25319 Ronny Arias
c. Termination of Liens - Policy Discussion on Collections