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Home My WebLink About2011-01-25 - AGENDA Nantucket Land Bank Commission Regular Meeting of January 25,2011 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 - Manager's Update D. MINUTES OF THE REGULAR MEETING OF JANUARY 11,2011 E. TRANSFER BUSINESS F. FINANCIAL BUSINESS 1. Monthly Financial Report 2. Warrant Authorization - Cash Disbursements 3. Warrant Authorization - Coffin Setoff Legal Expense G. PROPERTY MANAGEMENT 1. Beach Event Requests - Policy Discussion 2. Miacomet Beach - Use Request ADJOURNMENT I , . . _. ., ,'" 1C/ . - :u - -1% r\l OJ." '"T'1 ,"'-') ::E::z '2d 2: , .-- \0 c-) -".,... r-- ..-'''t a 0 -.,- N 00 ,,,,~.,.... ".-' MINUTES Nantucket Land Bank Commission Regular Meeting of January 25,2011 Land Bank Meeting Room, 22 Broad Street Nantucket, Massachusetts CALL TO ORDER: 4:01 P.M. PRESENT: Gardner, Johnson, Reinhard, Stackpole. ABSENT: Bartlett. 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, 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 B. CITIZEN BUSINESS/ANNOUNCEMENTS: None. Miacomet Golf General Manager, Alan Costa entered the meeting at 4:38 P.M C. PROPERTY MANAGEMENT: Commissioner Bartlett entered the meeting via speaker telephone at 4:40 P.M 1. Miacomet Golf Club - Monthly Manager's Update: a. Financial Report: The Commission reviewed the balance sheet and profit and loss comparison through December 31, 2010. Mr. Costa pointed out the overall improvement over 2009, despite restaurant income going down. He further stated that in his opinion, the restaurant would never be a significant source of revenue; however it would always be needed as an amenity for the golf course. b. Membership Update: Mr. Costa provided a membership update, reporting that there were nine resignations and one new membership to date, and further that he anticipated the loss of 30 memberships this year and unlike previous years, no longer had a waiting list of new members to contact. .' '" Land Bank Commission January 25, 2011 Page 2 c. New Clubhouse Discussion: Mr. Costa responded to the Commission's concerns regarding the new clubhouse proposal and stated that he did not foresee the need to increase rates significantly, nor did he expect the Land Bank to pay for the new facility. Mr. Costa suggested that Miacomet Golf could take out a construction loan to fund the project, and that increased revenue from new members, along with golf fees, would be enough to support the increase in debt service. Commissioners Reinhard and Gardner suggested that Mr. Savetsky's email serve as a starting guide for.planning the project. Mr. Bartlett asked the Commission to proceed cautiously and everyone agreed that in order to move the project forward in a careful, well thought-out fashion, a planning process needed to be clearly defined. d. Course Restroom Discussion: Mr. Costa informed the Commission that he had done some research and received rough estimates on the cost of building two restroom facilities on the course, estimating the total expense to be around $140,000 for the surveying, septic system installation and building construction. Commissioner Gardner left the meeting at 5:20 P.M Commissioner Bartlett left the meeting (via speaker phone) at 5:20 P.M Mr. Costa left the meeting at 5:29 P.M D. APPROVAL OF MINUTES: Upon a motion made and duly seconded, it was VOTED to accept, approve and release the regular session minutes of January 11, 20 11, as written. E. TRANSFER BUSINESS: 1. Transfer Update: a. Additional Information Provided: Based upon the submission of additional information, the Commission found the following transfers to be in order: No. 31255 97 Miacomet Realty Trust No. 31291 Estate of Mary Bell LeBus Whitt No. 31292 Mary Bell LeBus Whitt GSTNon-Exempt Trust UTA 7/13/01 No. 31337 Edward Anson Schultz and Crystal Virginia Shroads Schultz No. 31361 Littman Family LLC b. Purchase Price Documentation Provided - No. 31070 Kurt M. Rosenberg and Alexandra M. Rosenberg: Based upon the submission of the requested documentation in support of the stated purchase price, the Commission found the above-referenced transfer to be in order. c' Land Bank Commission January 25, 2011 Page 3 2. "M" Exemption Update: a. Five-Year Domicile and Ownership Compliance - Release 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. 26611 Claudia K. Dhar and Ravinder M. Dhar No. 26639 Rene Lemus F. FINANCIAL BUSINESS: 1. Monthly Financial Report: The Commission accepted the December 2010 financial report including the balance sheet and income statement previously provided by electronic correspondence. 2. Warrant Authorization - Cash Disbursements: Upon a motion made and duly seconded, it was VOTED to execute the January 25,2011 warrant document in the amount of $16,452. 15 to be provided to the county treasurer. 3. Warrant Authorization - Coffin Setoff Legal Expense: Mr. Savetsky presented a request on behalf of the Town of Nantucket for the Land Bank to pay the legal expense incurred by the Town on the Madequecham swap. Upon a motion made and duly seconded, it was VOTED to execute the January 25,2011 warrant document in the amount of $6,053.33 to be provided to the county treasurer. G. PROPERTY MANAGEMENT: 1. Beach Event Request - Policy Discussion: Mr. Savetsky proposed that the Commission adopt a new policy for catered events on Land Bank beaches, reporting that use requests had increased dramatically and that in his view, they interrupted public enjoyment of the beaches. Mr. Savetsky asked the Commission to think about designating one beach for events, or directing them to Town beaches instead. He suggested allowing such events on Low Beach, as it was large enough and less populated than other beaches. Chairman Stackpole expressed reservations on the proposal and asked that the discussion be continued to a time when all Commissioners were present. 2. Miacomet Beach - Use Request: Mr. Savetsky presented a request from event planner Nicole Whelden to allow a catering company and tent company to drive vehicles across Land Bank property at Miacomet Beach at 4 p.m. on Friday, September 2,2011 to set up for a wedding rehearsal dinner that was scheduled to take place at 5 p.m. on abutting Town property. 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Additional Information Provided: No. 31255 97 Miacomet Realty Trust Received Form 13, Part G (Seller's Affidavit) No. 31291 Mary Whitt Fishel, Executor of the Estate of Mary Bell LeBus Whitt Received signed Form A, Part D (Affidavit of Exemption) Received signed Form B, Part G (Seller's Affidavit) No. 31292 Mary Bell LeBus Whitt GST Non-Exempt Trust UTA dated July 13,2001 Received signed Form A, Part D (Affidavit of Exemption) Received signed Form B, Part G (Seller's Affidavit) No. 31337 Edward Anson Schultz and Crystal Virginia Shroads Schultz Received signed Form B, Part G (Seller's Affidavit) No. 31361 Littman Family LLC Received signed Form B, Part G (Seller's Affidavit) b. Purchase Price Documentation Provided: No. 31070 Kurt M. Rosenberg and Alexandra M. Rosenberg (22 Bailey Road) Purchase Price $385,000/ Assessed Value $653,800 59% of Assessed Value Received fully-executed Purchase and Sales Agreement, Inquirer & Mirror classified ad showing listing price, letter from purchasers 2. "M" Exemption Update: a. Five- Year Domicile Compliance - Release of Liens: No. 26611 Claudia K. Dhar and Ravinder M. Dhar No. 26639 Rene Lemus ..," " ~"-' , . DOCUMENTS AND EXHIBITS Nantucket Land Bank Commission Regular Meeting of January 25,'2011 Documents and Exhibits List 1. Miacomet Golf Balance Sheet and Profit and Loss Comparison through December 31,2010 2. Additional Information Provided - No. 31255 Form B, Part G (Confidential) 3. Additional Information Provided- No. 31291Completed Form A, Part D and Form B, Part G (Confidential) 4. Additional Information Provided - No. 31292 Completed Form A, Part D and Form B, Part G (Confidential) 5. Additional Information Provided - No. 31337 Form B, Part G (Confidential) 6. Additional Information Provided - No. 31361 Form B, Part G (Confidential) 7. Purchase Price Documentation Provided - No. 31070 Fully Executed Purchase and Sale and newspaper classified advertisement (Confidential) 8. Release of Liens for "M" Compliant Purchasers (see transfer business for list of record nos.) 9. Monthly Financials for December 2010 (Monthly Financial Statement, plus Balance Sheet' and Income Statement) 10. Check Warrant Summary dated January 25,2011 11. Check Warrant Summary for Coffm Setoff Legal Expense dated January 25, 2011