The URL can be used to link to this page

Home My WebLink About2011-01-11 MINUTES Nantucket Land Bank Commission Regular Meeting of January 11,2011 Land Bank Meeting Room, 22 Broad Street Nantucket, Massachusetts CALL TO ORDER: 4:02 P.M. ...: PRESENT: Johnson, Reinhard, Stackpole. ABSENT: Bartlett, Gardner. -l:z: - :J~ 0'1"::.. c:...... (!, ::E :>.:;~ ===- STAFF PRESENT: Eric Savetsky, Executive Director; Jesse Bell, Administrli!6ftfiscal~cer;, Susan Campese, Assistant Administrator. r""; ) 0\ r-rl --. ~ A. EXECUTIVE SESSION: Upon a motion made and duly seconded, it was VOTED to"]o into executive session in order to discuss the purchase, exchange, lease or value of real prop~, 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. Commissioner Gardner entered the meeting at 4: 11 P.M RETURN TO OPEN SESSION B. CITIZEN BUSINESS/ANNOUNCEMENTS: None. C. APPROVAL OF MINuTES: Upon a motion made and duly seconded, it was VOTED to accept, approve and release the regular session minutes of December 14,2010, as written. Miacomet Golf General Manager, Alan Costa and Miacomet Golf Course Superintendent, Sean Oberly entered the meeting at 4:23 P.M Bruce Perry, Resource Planner/Ecologist entered the meeting at 4:25 P.M D. PROPERTY MANAGEMENT: 1. Miacomet Golf Course: a. New Clubhouse Discussion: Mr. Costa presented materials outlining the need for a new clubhouse and presented pictures of the current conditions at the existing clubhouse in need of repair. Mr. Costa asked the Commission to approve the spending of $75,000 from Miacomet Golfs operating budget to have plans drawn up and begin the permitting process for a new facility. Mr. Savetsky suggested a membership survey would be helpful before plans were drawn and emphasized the importance of the new clubhouse being in keeping with the area and history of Miacomet Golf. Mr. Costa indicated that he did not foresee the need to increase rates significantly, .. Land Bank Commission January 11,2010 Page 2 as the new clubhouse would likely draw in more members and at the same time allow them to retain members that may otherwise leave due to lack of amenities. Commissioner Gardner suggested that a financial analysis was needed to assess what was necessary for golf versus additional services. Jeffrey Pollock, Property Supervisor entered the meeting at 4:40 P.M Commissioners Stackpole and Johnson abstained as members of Mia comet 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 Mia comet 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 expenditure of up to $75,000 from Miacomet Golfs operating budget in order to move forward with the planning for a new clubhouse and asked Mr. Costa to report back periodically on his progress to give the Commission an opportunity to provide input and review plans along the way. Mr. Costa and Mr. Oberly left the meeting at 4:58 P.M E. TRANSFER BUSINESS: 1. December 2010 Transfers - Record Nos. 31247 through 31387: The Commission reviewed transfers for the period of December 1,2010 through December 31,2010. a. Current "M" Exemptions and Liens: The Commission authorized the placing of liens against the following properties as a result of the purchasers claiming the "M" exemption as first-time buyers of real property: No. 31254 Hristo Krastev and Rositsa Krasteva No. 31301 Joni Lee Amaral and Pedro George Amaral No. 31318 Hennadiy Yukhymenko b. Purchase Price Documentation Required - No. 31301 Joni Lee Amaral and Pedro George Amaral: The Commission asked staff to request supplemental documentation from the purchasers to support the stated purchase price on the above-referenced transfer. c. Additional Information Required: The Commission asked staff to request additional information on the following transfers: No. 31255 97 Miacomet Realty Trust No. 31291 Mary Whitt Fishel, Executor of Estate of Mary Bell LeBus Whitt No. 31292 Mary Bell LeBus Whitt GST Non-Exempt Trust No.31337 Edward Anson Shultz and Crystal Virginia Shroads Schultz No. 31361 Littman Family, LLC , . Land Bank Commission January 11,2010 Page 3 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. 31001 EK Associates, LLC No. 31227 Bryan M. Diggle 3. "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. 26312 Wendy-Lee Herrick Aleman and William E. Aleman No. 26447 Gary Roy and Elaine Roy No. 26463 Marc J. Yacone No. 26481 Rhonda M. Allen No. 26497 Bazhen S. Lapenlo and Radmila Soklakova No. 26520 Gerardo Nolasco and Celina Ramirez Portillo F. FINANCIAL BUSINESS: 1. Monthly Financial Report: The Commission accepted the November 2011 financial report including the balance sheet and income statement previously provided by electronic correspondence. 2. Monthly Transfer Statistics: Monthly transfer statistics reports comparing calendar years 2009 and 2010 and fiscal years 2010 and 2011 through December 2010 were presented. 3. Warrant Authorization - Cash Disbursements: Upon a motion made and duly seconded, it was VOTED to execute the January 11,2011 warrant document in the amount of$81,050.89 to be provided to the county treasurer. G. PROPERTY MANAGEMENT: 1. Property Supervisor's Monthly Review: Mr. Pollock provided an overview of work performed by property management staff in December, including view shed maintenance and dead pine tree removal at Trotts Hills, trail clean up at Holdgate and Milestone Road properties, chainsaw work at Latici and opening up the connector to the wetlands on the Dias/Pilot Whale property. He reported that property management staff had started working on their 2011 task list which would be presented at an upcoming meeting. Further, the maintenance facility building committee had fine- tuned their plans and conceptual sketches had been submitted to two designers for proposals. 2. Barrett/Zissi/MMA - Permitting Update and Lease Amendment: Land Bank Commission January 11,2010 Page 4 a. Permitting Update: Mr. Savetsky reported that Attorney Arthur Reade filed two appeals on behalf of the Land Bank with the Board of Selectman (BOS) for the Historic District Commission's denial of both the move off and move on applications for the building at 30B Washington Street and that the appeals were scheduled for the February 23, 2011 BOS meeting. b. Lease Amendment: Mr. Savetsky was contacted by attorney Kevin Dale representing Lyman Perry (the tenant at 30B Washington Street) to ask for an amendment to Mr. Perry's lease, changing his end date from December 31, 2011 to September 30, 2011, and prorating the rent accordingly. After some discussion, upon motion made and duly seconded, it was VOTED to execute a commercial lease amendment changing the terms of the existing lease as requested and described above. Attested to: ADJOURNMENT: a motion made and duly seconded, it was VOTED to adjourn at 5:20 P.M. Accepted, Approved, and Released by the VOTE of the Commission 's 25th day of January, 2011. - 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 TOTAL 826 489 292 $463,796,446 $411,857,255 $8,257,165 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 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-10 64 36 28 $29,410,325 $26,700,825 $534,017 Sep-1 0 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-1 0 77 41 36 $61,023,719 $49,529,365 $990,587 Dec-1 0 141 78 63 $97,606,194 $93,574,944 $1,879,499 TOTAL 941 530 411 $718,861,643 $640,536,626 $12,842,251 Average 78 44 34 $59,905,137 $53,378,052 $1,070,188 Low 50 26 12 $13,437,926 $12,194,500 $243,890 High 141 78 63 $150,939,438 $146,404,272 $2,936,085 MONTHL Y (UNAUDITED) FY10 Total Exem t Taxable Total Gross Gross Revenue Month Transfers Transfers Transfers Value Value Taxable Received Jul-09 61 41 20 $44,644,114 $42,991,125 $878,323 Au -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 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 A r-10 50 26 24 $30,068,735 $28,979,000 $587,080 Ma -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 THRU DEC 09 483 288 195 341,424,423 313,718,653 6,289,540 Avera e 74 45 29 $49,545,170 $43,120,093 $863,959 Low 37 25 12 $13,437,926 $12,194,500 $243,890 Hi h 114 78 47 $90,032,410 $87,070,640 $1,741,413 ~m-"F"7'~;1 rtIh~.::"'~ ',~'V::7::'-" ('JJ 1" ~(~=;g~n;-''''''~..:~~''i:;ij!V~-t- ~7~ "" ,;~~=-"J""~~~ ""m-"",~$:-~""'''''''l''''''''' ~~,=_""",,""W>?''''''''''~,,"~'''''=r'''',,",," ~ .".,.='" "''''PI =' --...~ if' ~.,.~,.,,=~ E ~).xJ1J. '1}1 \tI\~fl~~~J~;}yl~H~~~S~ :!( J.J:~'yc<J~~ jrJf~~~~~ J!1~~;~,.V< ~!~J~ " ~ FY11 Total Exempt Taxable Total Gross Gross Revenue Month Transfers Transfers Transfers Value Value Taxable Received Jul-10 55 31 24 $26,038,861 $23,613,361 $476,267 Aug-10 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-1 0 77 41 36 $61,023,719 $49,529,365 $990,587 Dec-10 141 78 63 $97,606,194 $93.574,944 $1,879,499 Jan-11 Feb-11 Mar-11 Apr-11 May-11 Jun-11 THRU DEC 10 534 275 259 $465,744,031 $436,814,166 $8,764,283 . Average 89 46 43 $77,624,005 $72,802,361 $1,460,714 Low 55 31 24 $26,038,861 $23,613,361 $476,267 High 141 78 63 $150,939,438 $146,404,272 $2,936,085 MONTHL Y (UNAUDITED) :,.,." TRANSFER BUSINESS Nantucket Land Bank Commission Regular Meeting of January 11, 2011 1. December 2010 Transfers - Record Nos. 31247 through 31387: a. Current "M" Exemptions: No. 31254 Hristo Krastev and Rositsa Krasteva No. 31301 Joni Lee Amaral and Pedro George Amaral No. 31318 Hennadiy Yukhymenko ,b. Purchase Price Documentation Required: No. 31301 Joni Lee and Pedro George Amaral (28 Vesper Lane) - Purchase Price $487,000/ Assessed Value $721,500 - 67% of Assessed Value c. Additional Information Required: No. 31255 97 Miacomet Realty Trust - Need signature on Form B, Part G (Seller's Affidavit) No. 31291 Mary Whitt Fishel, Executor of Estate of Mary Bell LeBus Whitt - Need signature on Form A, PartD (Affidavit of Exemption) - Need completed Form B, Part G (Seller's Affidavit) No. 31292 Mary Bell LeBus Whitt GST Non-Exempt Trust UTA dated July 13,2001 - Need signature on Form A, Part D (Affidavit of Exemption) Need completed Form B, Part G (Seller's Affidavit) No. 31337 Edward Anson Schultz and Crystal Virginia Shroads Schultz - Need completed Form B, Part G (Seller's Affidavit) No. 31361 Littman Family, LLC - Need completed Form B, Part G (Seller's Affidavit) 2. Transfer Update: a. Additional Information Received: No. 31001 EK Associates, LLC - Received letter explaining circumstances of transaction from purchaser's attorney No. 31227 Bryan M. Diggle - Received completed Form B, Part G (Seller's Affidavit) 3. "M" Exemption Update: a. Five-Year Domicile and Ownership Compliance - Release of Liens: No. 26312 Wendy-Lee Herrick Aleman and William E. Aleman No. 26447 Gary Roy and Elaine Roy No. 26463 Marc J. Yacone No. 26481 RhondaM. Allen No. 26497 Bazhen S. Lapenko and Radmila Soklakova No. 26520 Gerardo Nolasco and Celina Ramirez Portillo .1 DOCUMENTS AND EXHIBITS Nantucket Land Bank Commission Regular Meeting of January 11,2011 1. Miacomet Golf Course - documents and exhibits pertaining to new clubhouse proposal, some previously submitted via electronic correspondence 2. December 2010 Transfers, Statistics and Revenue Graphs 3. Check Warrant Summary and Warrant Authorization dated January 11,2011 4. Monthly Financials for November 2010 (Monthly Financial Statement, plus Balance Sheet and Income Statement), previously submitted via electronic correspondence 5. Commercial Lease Amendment for 30B Washington Street .. " t_",.:.'-~i>l!'#'''""#~:_.""""".~,, I I I AGENDA Nantucket Land Bank Commission Regular Meeting of January 11,2011 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 D. MINUTES OF THE REGULAR MEETING OF DECEMBER 14,2010 E. TRANSFER BUSINESS F. FINANCIAL BUSINESS 1. Monthly Financial Report 2. Monthly Transfer Statistics 3 . Warrant Authorization - Cash Disbursements G. PROPERTY MANAGEMENT 1. Property Supervisor's Monthly Review 2. Barrett/Zissi Property - Lease Amendment & Permitting Update ADJOURNMENT -;z 01:> ::IE :..." Z~'; CJ~::" . - - c:...... :::J::a Z ~ rr") 7) r 2:: - (.j w Ie::... ;u