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HomeMy WebLinkAbout2015-4-14AGENDA Nantucket Land Bank Commission Regular Meeting of April 14, 2015 Land Bank Meeting Room, 22 Broad Street Nantucket, Massachusetts CALL TO ORDER: 4:00 P.M. A. CITIZEN BUSINESS /ANNOUNCEMENTS B. EXECUTIVE SESSION 1. Approval of Executive Session Minutes of March 23, 2015 2. Real Estate Acquisition C. TRANSFER BUSINESS D. FINANCIAL BUSINESS 1. Monthly Transfer Statistics 2. Warrant Authorization — Cash Disbursements 3. US Bank Debt Reserve Fund — Discussion E. REGULAR BUSINESS F. GOLF BUSINESS 1. Sconset Golf Course — Advance for Operations Start-up Discussion G. PROPERTY MANAGEMENT 1. Property Supervisor's Monthly Review 2. Property Equipment Purchase - Request 3. 39 Washington Street — Execution of License 4. 158 Orange Street — Conservation Commission Application Review 5. Weweeder Valley Trail Planning — Discussion 6. Petrel Landing /17 Commercial Street - Figawi V.I.P. Tent 7. Andrews /Cathcart Road — Property Planning Discussion H. PERSONNEL MANAGEMENT 1. Assistant Administrator (Marian Wilson) — Six Months Review ADJOURNMENT MINUTES Nantucket Land Bank Commission Regular Meeting of April 14, 2015 Land Bank Meeting Room, 22 Broad Street Nantucket, Massachusetts CALL TO ORDER: 4:00 p.m. PRESENT: Bartlett, Paterson, Reinhard. ABSENT: Gardner, Stackpole. STAFF PRESENT: Eric Savetsky, Executive Director; Jesse Bell, Assistant Director; Susan Campese, Administrator/Finance Manager; Jeffrey Pollock, Property Management Supervisor. Weweeder Valley abutters, Michele Perry, Bo Wilson and Mark Delay were also present at call to order. A. CITIZEN BUSINESS /ANNOUNCEMENTS: None. B. PROPERTY MANAGEMENT: 1. Weweeder Valley Trail Planning — Discussion: Mr. Savetsky explained that since there were only three Commissioners present, there would be no new planning decisions; however he reviewed the steps that had been taken thus far to address encroachment issues. Mr. Wilson stated his belief that in the permitting of the 40B development off Blueberry Lane, a bike path was required, which would tie in nicely to Blueberry as the trailhead. Mr. Savetsky said he would inquire with the planning office about this. Chairman Reinhard thanked the abutters for their input and assured them the Commission would take their concerns under advisement. Mr. Pollock, Ms. Perry, Mr. Wilson and Mr. Delay departed the meeting at 4:07 p.m. C. EXECUTIVE SESSION: Upon a motion made and duly seconded, it was unanimously 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 in regular session following executive session. RETURN TO OPEN SESSION Mr. Pollock entered the meeting at 5:08 p.m. D. TRANSFER BUSINESS: 1. March 2015 Transfers — Record Nos. 36095 through 36173: The Commission reviewed transfers for the period of March 1, 2015 through March 31, 2015. Land Bank Commission April 14, 2015 Page 2 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. 36136 Blanca Ramos and Saul Pineda No. 36141 Viktoras Mozeris No. 36142 Alvydas Asinskas and Ausra Merksaityte No. 36171 James W. Olney E. FINANCIAL BUSINESS: 1. Monthly Transfer Statistics: Monthly transfer statistics reports comparing fiscal years 2014 and 2015 through March 2015 were presented to the Commission. 2. Warrant Authorization — Cash Disbursements: Upon a motion made and duly seconded, it was unanimously VOTED to execute the April 14, 2014 warrant document in the amount of $598,060.38 to be provided to the county treasurer. 3. US Bank Debt Reserve Fund — Discussion: Ms. Campese informed the Commission that Nantucket Bank no longer had a bond rating, preventing them from meeting the definition of a "qualified investment" for our bond reserve money under the terms of the Land Bank's trust agreements with US Bank. Since the deadline to reinvest the bond reserve fell in between meetings, Ms. Campese reported that after doing some due diligence on rates, she directed the Trustee, US Bank, to purchase six -year Treasury notes with the reserve money. In order to ensure that the Land Bank does not jeopardize the tax - exempt status of our bonds, bond counsel recommended engaging an arbitrage consultant through our financial advisors, First Southwest, at a cost of $1,200 per year. Ms. Campese stated that even with this additional expense, given the higher yield of the treasury notes, the new reserve account would return approximately $11,000 more than last year. F. GOLF BUSINESS: 1. Sconset Golf Course ( "SGC ") — Advance for Operations Start-up Discussion: Mr. Savetsky presented a request from Alan Costa, SGC General Manager, to return the $75,000 that had been transferred to the Land Bank for use towards the clubhouse renovation. Mr. Costa expected significant upcoming expenses due to clubhouse construction impacts to the grounds, putting green construction, and seasonal startup expenses. After much discussion, upon a motion made and duly seconded, it was unanimously VOTED to approve the request. 2. SGC Sign Modification Discussion: Ms. Bell explained that, in the course of their research, the Preservation Trust found the opening year of the golf course was actually 1899 rather than 1894, the latter of which is displayed on the current sign. Upon a motion made and duly seconded, it was unanimously VOTED to correct the record and change the date on the sign to 1899. Land Bank Commission April 14, 2015 G. PROPERTY MANAGEMENT: Page 3 1. Property Management Monthly Update: Mr. Pollock provided an overview of work performed since the last update, including demolition of both houses at Bachman and the Aladjem house. He explained that they were going to add split rail fence, beach grass and possibly posts for dinghies at Aladjem. The consensus of the Commission was to wait and see if the dinghy posts were warranted. Mr. Pollock said the shed at Bachman still needed to be removed and they were waiting for the neighbor (Mr. Goldberg) to finish some work before having Reis complete the final grading of the rear lot. However, Mr. Pollock was planning on hydroseeding the front half of the property soon, after the shed is removed. Further, the Town's paving work at 50 Union Street was expected to be complete soon, after which they would install the park. The Historic District Commission had asked for some elements of the design to be changed, such as the curve of the path, bike racks, and benches. Mr. Pollock said the cart barn site had been brush cut and stripped. Additionally, the dock at the Sharp property broke loose during a storm and damaged a neighbor's dock. The neighbor said the repairs would cost $4,000 which the Land Bank agreed to pay. Further, most of the remainder of the winter storm damage had been addressed, in particular fixing the bulkhead at Wolfe, repairing the dinghy racks at Andrews and cleaning up the trails. Mr. Pollock said that Gardner, Mizzenmast and South Shore properties had become real problems with unleashed dogs and dog waste and staff was working on signage for these properties. 2. Environmental Coordinator's Update: Mr. Savetsky presented a written report from Rachael Freeman on projects she has been working on over the past few months. Commissioner Paterson asked staff to thank Ms. Freeman for her update. 3. Property Equipment Purchase — Request: Mr. Pollock said the batwing mower was not working well for road edges so he was looking into different kinds of road edge cutters and would come back in a future meeting with a request. Commissioner Bartlett suggested he rent a sickle bar attachment to try. 4. 39 Washington Street — Execution of License: Ms. Bell presented a license to the Town of Nantucket for use of the 39 Washington Street for seasonal housing from April 15 to October 31, 2015. Upon a motion made and duly seconded, it was unanimously VOTED to execute the license with the Town. 5. 158 Orange Street — Conservation Commission Application Review: Mr. Savetsky reviewed the application materials currently before the Conservation Commission for the dock replacement and relocation of the walkway. Further, he explained that Mr. Goldberg asked for a land use agreement that counsel was reviewing. The agreement removed the cross easement, provided for a landscape buffer and stipulated shared use of the driveway for maintenance and emergency purposes only. The Commission was opposed to the use restrictions proposed by Mr. Goldberg. 6. Petrel Landing/ 17 Commercial Street — Figawi V.I.P. Tent: Mr. Savetsky presented a request from Figawi, Inc. to have their VIP tent set up at Petrel Landing from Friday, May 22, 2015 through Monday morning May 25, 2015 to be used for meetings, award ceremonies and sponsor Land Bank Commission April 14, 2015 Page 4 receptions. Upon a motion made and duly seconded, it was unanimously VOTED to approve the request as in previous years, subject to the Land Bank named as additionally insured on their insurance policy. 7. Andrews /Cathcart Road — Property Planning Discussion: Mr. Savetsky presented a wetland resource area delineation plan prepared by Blackwell & Associates. The location of the coastal bank could severely impact the potential for parking lot expansion. However, Mr. Savetsky suggested it was still worth applying to the Conservation Commission in an attempt to add more parking spaces. H. PERSONNEL MANAGEMENT: 1. Assistant Administrator (Marian Wilson) — Six Month Review: Mr. Savetsky reported that due to increased work load at the office, Ms. Wilson was now working four days a week and therefore was now eligible to participate in the Barnstable County Retirement system. Further, Ms. Campese recommended that since Ms. Wilson was working most of the week, that she be given prorated paid time off. Based on a recommendation from the Executive Director, upon a motion made and duly seconded, it was unanimously VOTED to approve a 5% wage increase for Ms. Wilson, which brings her hourly wage to $26.25 and to give her 16 days of paid time off. The Commission authorized Mr. Savetsky to execute a Personnel Change Form to be provided to the County Treasurer. I. REGULAR BUSINESS: 1. Recognition of Commissioner Bartlett: Commissioner Paterson commended Commissioner Bartlett for his 30 years of service on the Land Bank Commission, as did Chairman Reinhard and staff. Commissioner Bartlett predicted that the past 30 years of Land Bank efforts will be even more apparent in the future and that he was very proud of his time on the Commission. ADJOURNMENT: Upon a motion made and duly seconded, it was VOTED to adjourn at 6:45 p.m. Attested to: dM4 Neil Paterson, Secretary Accepted, Approved, and Released by the VOTE of tWqCU22mission this 2A day f April, 20 5. Alle . Reinhard' MONTHLY TRANSFER STATISTICS FISCAL YEAR 2014 FY14 Total Exempt Taxable Total Gross Gross Revenue Month Transfers Transfers Transfers Value Value Taxable Received Jul -13 81 45 36 $39,269,537 $36,279,537 $735,021 Aug -13 78 26 52 $103,362,429 $100,769,700 $2,023,394 Sep -13 107 31 76 $99,058,451 $97,612,951 $1,952,259 Oct -13 128 44 84 $148,561,985 $146,714,985 $2,934,300 Nov -13 88 48 40 $59,407,600 $56,541,850 $1,130,837 Dec -13 108 54 54 $77,487,991 $72,594,425 $1,451,889 Jan -14 83 54 29 $63,272,803 $61,129,303 $1,222,586 Feb -14 65 30 35 $63,662,993 $61,093,626 $1,227,863 Mar -14 1 71 32 39 $50,612,071 $45,933,178 $925,424 Apr -14 76 40 36 $50,709,873 $47,284,873 $945,697 May -14 80 35 45 $67,830,595 $62,968,987 $1,259,380 Jun -14 83 33 50 $96,733,991 $94,926,991 $1,922,540 THRU MAR 14 Average 809 87 364 39 445 48 $704,695,860 $76,664,193 $678,669,555 $73,654,200 $13,603,572 $1,477,599 Low 65 26 29 $39,269,537 $36,279,537 $735,021 High 128 54 84 $148,561,985 $146,714,985 $2,934,300 MONTHLY TRANSFER STATISTICSaFISCALPEAR 2015 FY15 Total Exempt Taxable Total Gross Gross Revenue Month Transfers Transfers Transfers Value Value Taxable Received Jul -14 98 48 50 $60,140,662 $56,509,302 $1,130,186 Aug -14 96 48 48 $67,983,744 $65,787,643 $1,331,753 Sep -14 100 34 66 $157,977,831 $155,555,831 $3,111,116 Oct -14 147 57 90 $168,297,186 $160,177,228 $3,203,545 Nov -14 85 38 47 $81,932,556 $80,432,556 $1,608,651 Dec -14 109 59 47 $115,148,049 $106,237,418 $2,132,248 Jan -15 90 50 40 $77,446,898 $69,668,046 $1,393,861 Feb -15 67 36 31 $54,657,080 $52,845,679 $1,056,914 Mar -15 78 42 36 $66,685,997 $62,665,997 $1,253,320 Apr -15 May -15 Jun -15 THRU MAR 15 Average 870 97 412 46 455 51 $850,270,003 $94,474,445 $809,879,701 $89,986,633 $16,221,594 $1,802,399 Low 67 34 31 $54,657,080 $52,845,679 $1,056,914 High 147 59 90 $168,297,186 $160,177,228 $3,203,545 Transfer Statistics - March 2015 (UNAUDITED) DOCUMENTS AND EXHIBITS Nantucket Land Bank Commission Regular Meeting of April 14, 2015 1. Monthly Transfer Report — March 2015 2. "M" Exemption Liens (see transfer business for record nos.) 3. Transfer Statistics and Graphs — March 2015 4. Check Warrant Summary dated April 14, 2015 5. Environmental Coordinator— Summary of current projects 6. License with Town for 39 Washington Street 7. Andrews Property — Coastal Bank Delineation Plan TRANSFER BUSINESS Nantucket Land Bank Commission Regular Meeting of April 14, 2015 1. March 2015 Transfers — Record Nos. 36095 through 36173: a. Current "M" Exemptions and Liens: No. 36136 Blanca Ramos and Saul Pineda No. 36141 Viktoras Mozeris No. 36142 Alvydas Asinskas and Ausra Merksaityte No. 36171 James W. Olney