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Home My WebLink About2010-12-14 """ _""'-"~''''''~''''fl J'~"",,,,,,*~_. )t- "'l:' 'r ',-It''!j,h ',"3" ~: J~'" AGENDA Nantucket Land Bank Commission Regular Meeting of December 14, 2010 Land Bank Meeting Room, 22 Broad Street Nantucket, Massachusetts CALL TO ORDER A. CITIZEN BUSINESS/ANNOUNCEMENTS B. EXECUTIVE SESSION C. PROPERTY MANAGEMENT 1. Miacomet Golf Course - Annual Budget and Rates Approval D. MINUTES OF THE REGULAR MEETING OF NOVEMBER 23,2010 E. TRANSFER BUSINESS F. FINANCIAL BUSINESS 1. Monthly Transfer Statistics 2. Warrant Authorization - Cash Disbursements 3. Warrant Authorization - Miacomet Golf Course Cash Advance Request 4. Warrant Authorization - 2009 Series A Bond Semi-Annual Payment 5 . Warrant Authorization - Note #31, Bachman G. PROPERTY MANAGEMENT 1. Maintenance Facility - Renovation/Expansion Discussion 2. Property Supervisor's Monthly Review 3. Barrett/Zissi/MMA Property - Permitting Update 4. Fair Street Park Property - Compliance Update 5. Ladies Beach - Use Request 6. Smooth Hummocks Advisory Committee - Annual Meeting Review 7. Walker Property - Update H. REGULAR BUSINESS 1. Annual "M" Exemption Amount Adoption 2. 2011 Meeting Schedule Adoption ADJOURNMENT . - - ~ ::=0 :z --- N 2 .;::. tv ~JJ '"1 MINUTES Nantucket Land Bank Commission Regular Meeting of December 14, 2010 Land Bank Meeting Room, 22 Broad Street Nantucket, Massachusetts CALL TO ORDER: 4:02 P.M. PRESENT: Bartlett, Gardner, Reinhard, Stackpole. ABSENT: Johnson. STAFF PRESENT: Eric Savetsky, Executive Director; Jesse Bell, AdministratorlFiscal 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, and review and approve executive session minutes. 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. RETURN TO OPEN SESSION Miacomet Golf General Manager, Alan Costa and Bruce Perry, Resource Planner/Ecologist entered at 4:32 P.M B. PROPERTY MANAGEMENT: 1. Miacomet Golf Course: a. Financial Report: The Commission reviewed the balance sheet and profit and loss comparison through December 14,2010 provided by Mr. Costa. b. 2011 Miacomet Golf Course Budget Review and Discussion: Mr. Costa presented a draft of the 2011 Miacomet Golf Course budget previously provided by electronic correspondence and discussed and answered questions about notable line-items and changes. Commissioners Stackpole and Bartlett abstained as members of Miacomet Golf Club. At this time, the Rule of Necessity was invoked based on the fact that the Commission was unable to obtaina quorum due to disqualification of Commissioners as members of Miacomet Golf Club and, as a last resort, those disqualified participated under the authority of the Rule of Necessity. Upon a motion made and duly seconded, it was VOTED to approve the draft 2011 Miacomet Golf Club Operating Budget as presented. Land Bank Commission December 14, 2010 Jeffrey Pollock, Property Supervisor entered the meeting at 4:40 P.M Page 2 c. 2011 Fees Discussion: Mr. Costa presented the proposed 2011 rates as follows: Green Fees - Non-Resident 18 Hole Green Fees - Non-Resident 9 Hole Resident Card Resident Green Fee - 18 Hole Resident Green Fee - 9 Hole Golf Bag Storage Golf Cart Storage Annual Golf Car Rental Golf Car 18 hole Walking Trolley Range Balls (per bucket) Golf Charter Member - old (fixed) Golf Charter Family Member - old (fixed) Single Membership Dues - old Family Membership Dues - old Single Membership Due - new Family Membership Dues - new Non-Resident Single Membership Non-Resident Family Membership 2010 $ 110.00 $ 65.00 $ 315.00 $ 82.00 $ 48.00 $ 150.00 $ 100.00 $ 550.00 $ 20.50 $ 7.00 $ 6.00 $ 800.00 $ 1,500.00 $ 1,258.00 $ 2,410.00 $ 3,050.00 $ 5,830.00 $ 6,050.00 $11,560.00 2011 $ 115.00 $ 70.00 $ 315.00 $ 85.00 $ 50.00 $ 150.00 $ 100.00 $ 600.00 $ 21.00 $ 8.00 $ 5.00 $ 800.00 $ 1,500.00 $ 1,320.00 $ 2,520.00 $ 3,050.00 $ 5,830.00 $ 6,050.00 $ 11,560.00 Commissioners Stackpole and Bartlett abstained as members of Miacomet Golf Club. At this time, the Rule of Necessity was invoked based on the fact that the Commission was unable to obtain a quorum due to disqualification of Commissioners as members of Miacomet Golf Club and, as a last resort, those disqualified participated under the authority of the Rule of Necessity. Upon a motion made and duly seconded, it was VOTED to approve the proposed rates and fees as presented. Mr. Costa left the meeting at 4:59 P.M C. CITIZEN BUSINESS/ANNOUNCEMENTS: 1. Community Spelling Bee Fundraiser - Discussion: Ms. Campese asked the Commission if Land Bank employees and/or Commissioners would field a team at no cost to the Land Bank in the Friends of Nantucket Public Schools Community Spelling Bee on February 5, 2011. The Commission had no objections. D. APPROVAL OF MINUTES: Upon a motion made and duly seconded, it was VOTED to accept, approve and release the regular session minutes of November 23, 2010, as written. Land Bank Commission December 14,2010 Page 3 E. TRANSFER BUSINESS: 1. November 2010 Transfers - Record Nos. 31170 through 31246: The Commission reviewed transfers for the period of November 1,2010 through November 30, 2010. a. Purchase Price Documentation Required - No. 31171 Nine Partners Nominee Trust: The Commission asked staff to request supplemental documentation from the purchasers to support the stated purchase price on the above-referenced transfer. b. Additional Information Required: The Commission asked staff to request additional information on the following transfers: No. 31172 Marie Dostalier and Richard Touchette No. 31227 Bryan M. Diggle 2. Transfer Update: a. Additional Information Provided: Based upon the submission of additional information, the Commission found the following transfers to be in order: No. 31055 James M. Driscoll and Carol J. Driscoll No. 31076 Obed Joy, LLC b. Purchase Price Documentation Provided - No. 30926 Shane Valero: Based upon the submission of the additional documentation in support of the stated purchase price, the Commission found the above-referenced transfer to be in order. 3. "M" Exemption Update: a. Five- Year Domicile CompliancelNotice of Lien - No. 25765 David Lower and K. Jamison Lower: Upon a motion made and duly seconded, it was VOTED to execute and authorize the placement ofa Notice of Lien against the property based on the purchaser's non-compliance with the "actual domicile" requirement of the "M" exemption and failure to request a hearing within 30 days of the Notice of Assessment. b. Five-Year Domicile Non-Compliance/Release of Lien Request- No. 27322 Russell N. Jaehnig: Ms. Bell reported that Stephen P. Hayes, an attorney representing Nantucket Bank (holder of the mortgage on 23 Macy's Lane), asked if the Land Bank would be willing to issue a Release of Lien if the property were transferred back to the bank by deed in lieu of foreclosure. Ms. Bell informed the Commission that the property has been listed as a potential "short sale" for quite some time. After some discussion, upon a motion made and duly seconded, it was VOTED to execute a Release of Lien to be provided to Nantucket Bank or its designee if and when the deed in lieu comes through the Land Bank prior to recording. Land Bank Commission December 14, 2010 Page 4 F. FINANCIAL BUSINESS: 1. Monthly Transfer Statistics: Monthly transfer statistics reports comparing calendar years 2009 and 2010 through November 2010 were presented. 2. Warrant Authorization - Cash Disbursements: Upon a motion made and duly seconded, it was VOTED to execute the December 14,2010 warrant document in the amount of$145,969.16 to be provided to the county treasurer. 3. Warrant Authorization - Miacomet Golf Course Cash Advance Request: Pursuant to a cash advance request from Nantucket Golf Management, Inc., upon a motion made and duly seconded, it was VOTED to approve the December 14,2009 warrant document in the amount of $100,000 as a cash advance to fund course operations expenses. 4. Warrant Authorization - 2009 Series A Bond Semi-Annual Payment: Upon a motion made and duly seconded, it was VOTED to approve payment and authorize staff to wire the 2009 Series A Semi-Annual Bond Interest Payment in the amount of$164,831.25 from the Land Bank's Collection Account to the Bond Trustee at U.S. Bank. 5. 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$81O,937.50. G. PROPERTY MANAGEMENT: 1. Maintenance Facility - Renovation/Expansion Discussion: The maintenance facility renovation committee presented conceptual sketches and rough estimates for additions to the workshop facility for Commission review. The Commission responded favorably to the ideas presented and asked the committee to continue to report back as refinements are made. 2. Property Supervisor's Monthly Review: Mr. Pollock provided an overview of work performed in November with clean up and fencing repair at Jackson Point, dock removal at the Sharp Property, restoration work at the Dias/Pilot Whale property, pine tree removal in Cisco, brush trimming at the Crocker property and tree work at Reith. He additionally noted that the reroofing of the Somerset Farmhouse was finished and the Bewkes/Reedy Pond culvert was completed and fenced, and also that Homer Ray was in the process of replacing the heating system at the Bamber house. Further, staff had only impounded five dinghies and five kayaks from the Craig Property and none from Monomoy this year, and property management staff had reverted to their winter schedule in patrolling Land Bank properties three days per week. 3. Barrett/Zissi/MMA Property - Permitting Update: Mr. Perry reported that the Historic District Commission (H.D.C.) had denied the move off permit application for the cottage at 30B Washington Street as well as the related application to move it on to the Mizzenmast property. Based on the Commission's finding that the denials were without merit and exceeded the H.D.C.'s Land Bank Commission December 14, 2010 Page 5 statutory authority, upon a motion made and duly seconded, it was VOTED to appeal the decision to the Board of Selectmen. 4. Fair Street Park Property - Compliance Update: Mr. Savetsky reported there was still a pending compliance issue for the newly installed handicap railing in the park and that he was working with H.D.C. administrator Mark Voigt to try and rectify the matter. 5. Ladies Beach - Use Request: The Commission considered a request for a wedding ceremony at Ladies Beach for Saturday September 10,2011 at 5 P.M. for 50 to 60 people with no set up and a rain date of Sunday September 11,2011. Upon a motion made and duly seconded, it was VOTED to approve the request. 6. Smooth Hummocks Advisory Committee - Annual Meeting Review: Mr. Perry informed the Commission that he made his annual presentation to the state and committee and received positive feedback since the Land Bank had exceeded its goals for the ye:;rr. 7. Walker Property - Update: After speaking with Peter Sullivan of Sullivan Engineering and Dave Fronzuto of the Marine Department, Mr. Perry recommended the filing of a Notice of Intent with the Conservation Commission as the best approach in order to temporarily fix the erosion problems at the Walker property. The Commission approved of Mr. Perry filing the Notice of Intent this winter so the project could be completed for next summer. H. REGULAR BUSINESS: 1. Annual "M" Exemption Amount Adoption: Based upon the current prices for residential real property in the Town and County of Nantucket, upon a motion made and duly seconded, it was VOTED that the value of the "M" exemption shall remain $400,000 for the calendar year 2011. 2. 2011 Meeting Schedule: Upon a motion made and duly seconded, it was VOTED to accept and confirm the regularly scheduled Land Bank meeting dates for 2011. Attested to: ADJOURNMENT: U Accepted, Approved, and Released by the VOTE of the Commission this 11th day of January, 2011. John J. 1"- ':: f<I, '1" 'W'OJ"" '" "1!1"'lIl1M DOCUMENTS AND EXHIBITS Nantucket Land Bank Commission Regular Meeting of December 14,2010 Documents and Exhibits List 1. Miacomet Golf Course - Profit and Loss Comparison, Balance Sheet 2. Miacomet Golf Course - 2011 Budget and 2011 Fee Schedule 3. Record No. 31055 (James M. and Carol Driscoll) and additional confidential information relating thereto . 4. Record No. 31076 (Obed Joy, LLC) and additional confidential information relating thereto 5. Record No. 30926 (Shane Valero) and additional confidential information relating thereto 6. November 2010 Transfers, Statistics and Revenue Graph 7. Check Warrant Summary dated December 14,2010 8. Warrant Authorization - Miacomet Golf Course Cash Advance 9. Warrant Authorization - 2009 Series A Semi-Annual Bond Payment 10. Warrant Authorization - Note #31, Bachman 11. Maintenance Facility Aerials 12. Maintenance Facility Addition/Renovation Conceptual Sketches 13. Maintenance Facility AdditionlRenovation Rough Estimates 14. Ladies Beach - Use Request 15. 2011 Meeting Schedule I\tIC'i)N"tI~";"RAN~~E;R"i'$"A."1"~$T~~$/CA.EI:NDARr20Q9;"', .... ... .... '. 't '. 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 61 41 20 $44,644,114 $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-09 114 78 36 $60,119,575 $49,272,425 $985,449 THRU NOV 09 712 456 256 $403,676,871 $362,584,830 $7,271,717 Average 69 45 24 $38,649,704 $34,321,438 $688,097 Low 37 25 11 $10,720,838 $8,885,838 $185,717 High 114 78 47 $90,032,410 $87,070,640 $1,741,413 MONT...I.SYTRAN$FEr~tSl'lf~J'I$Tlc;~CAI.SENDA8.;;~"qfQ'i . c 'i' ...'.c.c....... c" c: 'ii': ;< IlL c.' ;..':...,:......;........:.......:;...,.......'__...:..,....",..';..:....."......C"".::,.'."."'.".,'.'.. . .'U.<"./ .'.. ..,..',......__.... ...... ........,.. '., "'.,.. ........,.:,.."..,.(......'0..... '.'..".;';..;' '<, CAL 10 Total Exempt Taxable Total Gross Gross Revenue Month Transfers Transfers Transfers Value Value Taxable Received Jan-10 60 48 12 $13,437,926 $12,194,500 $243,890 Feb-10 67 44 23 $59,068,081 $54,426,906 $1,083,956 Mar-10 74 42 32 $39,115,847 $34,074,250 $681 ,485 Apr-10 50 26 24 $30,068,735 $28,979,000 $587,080 May-10 72 49 23 $44,629,928 $35,100,208 $702,004 Jun-10 84 46 38 $66,797,096 $38,947,596 $779,553 Jul-10 55 31 24 $26,038,861 $23,613,361 $476,267 Aug-1 0 64 36 28 $29,410,325 $26,700,825 $534,017 Sep-10 93 36 57 $150,939,438 $146,404,272 $2,936,085 Oct-10 104 53 51 $100,725,494 $96,991 ,400 $1,947,828 Nov-10 77 41 36 $61,023,719 $49,529,365 $990,587 Dec-1 0 THRU NOV 10 800 452 348 $621,255,449 $546,961,682 $10,962,752 Average 73 41 32 $56,477,768 $49,723,789 $996,614 Low 50 26 12 $13,437,926 $12,194,500 $243,890 High 104 53 57 $150,939,438 $146,404,272 $2,936,085 MONTHL Y (UNAUDITED) . TRANSFER BUSINESS Nantucket Land Bank Commission Regular Meeting of December 14, 2010 1. November 2010 Transfers - Record Nos. 31170 through 31246: a. Purchase Price Documentation Required: No. 31171 Nine Partners Nominee Trust (107 Squam Road) - Purchase Price $1,100,000/ Assessed Value $ 1,692,900 - 65% of Assessed Value b. Additional Information Required: No. 31172 Marie Dostalier and Richard Touchette - Need completed Form B, Part G (Seller's Affidavit) No. 31227 Bryan M. Diggle - Need completed Form B, Part G (Seller's Affidavit) 2. Transfer Update: a. Additional Information Provided: No. 31055 James M. Driscoll and Carol J. Driscoll - Received completed Form B, Part G (Seller's Affidavit) No. 31076 Obed Joy, LLC - Received letter stating relationship between beneficiaries b. Purchase Price Documentation Provided: No. 30926 Shane Valero (39 Washington Street, 25% interest) - Purchase Price $20,000/ Assessed Value $290,275 - 7% of Assessed Value - Received affidavit from attorney Peter Kyburg regarding purchase price 3. "M" Exemption Update: a. Five-Year Domicile Non-Compliance - Notice of Lien: No. 25765 David Lower and K. Jamison Lower (24B Park Circle) b. Five-Year Domicile Non-Compliance - Deed in LieulRelease of Lien Request: No. 27322 Russell N. Jaehnig (23 Macy's Lane)