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Home My WebLink About2015-6-9AGENDA Nantucket Land Bank Commission Regular Meeting of June 9, 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. Real Estate Acquisition C. GOLF BUSINESS 1. Sconset Golf Course — April 2015 Financials 2. Miacomet Golf Course — April 2015 Financials D. TRANSFER BUSINESS E. FINANCIAL BUSINESS 1. Monthly Transfer Statistics 2. Warrant Authorization — Cash Disbursements 3. Warrant Authorization — 2009 Series A Semi - Annual Bond Payment F. PROPERTY MANAGEMENT 1. Various Beaches /Commercial Use Request — Delivery /Pickup of Chairs and Tents G. PERSONNEL MANAGEMENT ADJOURNMENT MINUTES Nantucket Land Bank Commission -- Regular Meeting of June 9, 2015 Land Bank Meeting Room, 22 Broad Street Nantucket, Massachusetts CALL TO ORDER: 4:05 p.m. PRESENT: Glidden, Paterson, Reinhard, Stackpole. ABSENT: Gardner STAFF PRESENT: Eric Savetsky, Executive Director; Jesse Bell, Assistant Director; Susan Campese, Administrator /Finance Manager; Marian Wilson, Assistant Administrator. Crooked Lane resident, William Cassidy was also present at call to order. A. 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. 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. Mr. Cassidy departed the meeting at 4:20 p.m RETURN TO OPEN SESSION Miacomet Golf General Manager, Alan Costa and Miacomet Golf Course Superintendent, Sean Oberly entered the meeting at 4:43 p.m. B. CITIZEN BUSINESS: None. C. GOLF BUSINESS: 1. Sconset Golf Course (SGC) — Financial Report: The Commission reviewed the balance sheet and profit and loss comparisons through April 30, 2015, as well as the check register for April. 2. Miacomet Golf Course (MGC) — Financial Report: The Commission reviewed the balance sheet, income statement and departmental summary profit and loss comparisons for April 30, 2015, as well as the check register and credit card statement for April. Mr. Costa answered various questions regarding the check register. Further, Mr. Costa explained that considering the bad weather, sales were running close to budget due to the increase of group events. Commissioner Paterson stated he attended a graduation party at the restaurant and said the food and service were excellent. 3. MGC Opening Member Event: Mr. Costa reported the first tournament and member event was today and that the Land Bank Commissioners and staff were invited to the party from Land Bank Commission June 9, 2015 6:00 to 8:00 p.m. Page 2 4. MGC Member Committee — Request: Mr. Costa explained that the Members Committee was requesting that a practice golf facility be built which he recommended that the Golf Capital Committee consider. He briefly described where it could be located and what the facility would include. Further, he explained having the facility would accommodate lessons and camps, thereby freeing up tee times with the potential to increase greens fees income up to $2,000 per day and therefore the facility would pay for itself. Commissioner Paterson asked that the Membership Committee list their capital needs in order of priority for the committee to review. 5. SGC Opening — Discussion: Commissioner Glidden asked Mr. Oberly when the course at Sconset would be ready to open. Mr. Oberly explained that as soon as the ramp was complete he would start rebuilding the 1St and 7th tees that were damaged during construction. Further, Mr. Costa said there were twenty -two players that had purchased the annual pass and he could extend the twilight golf time and block off tee times for them at the twilight rate until SGC reopened. Mr. Costa and Mr. Oberly departed the meeting at 5:10 p. m. D. TRANSFER BUSINESS: 1. May 2015 Transfers — Record Nos. 35142 through 35221: The Commission reviewed transfers for the period of May 1, 2014 through May 31, 2014. 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. 36301 William Patrick Norris No. 36308 Tigran Baghdasaryan No. 36338 Allyson E. S. Bold and David M. Bold F. FINANCIAL BUSINESS: 1. Monthly Transfer Statistics: Monthly transfer statistics reports comparing fiscal years 2014 and 2015 through May 2015 were presented to the Commission. 2. Warrant Authorization — Cash Disbursements: Upon a motion made and duly seconded, it was VOTED to execute the June 9, 2015 , warrant document in the amount of $165,263.04 to be provided to the county treasurer. 3. Warrant Authorization — 2009 Series A Bond Semi - Annual Payment: Upon a motion made and duly seconded, it was unanimously VOTED to approve payment and authorize staff to wire the 2009 Series A semi - annual bond payment of interest and principal in the total amount of $1,232,733.75 from the Land Bank's Collection Account to the Bond Trustee at U.S. Bank. Land Bank Commission June 9, 2015 G. PROPERTY MANAGEMENT: Page 3 1. Various Beaches /Commercial Use Request — Delivery /Pickup of Chairs and Tents: Ms. Bell presented a request from attorney Steven Cohen on behalf of his client that would like a license agreement to rent, deliver and set -up beach chairs and sun shades on various beaches on the island. After some discussion, upon a motion made and duly seconded, it was unanimously VOTED to deny the request. H. PERSONNEL MATTERS: 1. Property Management Seasonal Employees — Update: Mr. Savetsky explained that three of the seasonal employees had started, one haddy quit for another job and the position had been advertised again; and one other positioned yet to begin. ADJOURNMENT: Upon a motion mace and duly seconded, it was VOTED to adjourn at 5:37 p.m. Attested to: Richard J. Glidden, Accepted, Approved, and Released by the VOTE <,Oe Commission this 23rd day of June, 2015. 1 Reinhard, Chairman i i !L - 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 Oct -13 107 128 31 44 76 84 $99,058,451 $148,561,985 $97,612,951 $1,952,259 $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 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-1 4 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 MAY 14 Average 965 87 439 39 526 48 $823,236,327 $76,664,193 $788,923,414 $73,654,200 $15,808,649 $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 STATISTICS FISCAL YEAR 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 89 68 21 $25,228,870 $21,234,800 $424,696 May-1 5 79 39 40 $60,423,403 $58,811,717 $1,176,234 Jun -15 THRU MAY 15 Average 1,038 94 519 47 516 47 $935,922,276 $85,083,843 $889,926,218 $80,902,383 $17,822,524 $1,620,229 Low 67 34 21 $25,228,870 $21,234,800 $424,696 High 147 68 $168,297,186 $160,177,228 $3,203,545 F_90 MONTHLY (UNAUDITED) DOCUMENTS AND EXHIBITS Nantucket Land Bank Commission Regular Meeting of June 9, 2015 1. SGC Financial Reports — April 2015 2. MGC Financial Reports — April 2015 3. MGC P &L Summary by department — April 2015 4. Monthly Transfer Report — May 2015 5. "M" Exemption Liens (see transfer business for record nos.) 6. Transfer Statistics and Graphs — May 2015 7. Check Warrant Summary dated June 9, 2015 8. Series A 2009 Bond Payment Warrant 9. Beach Chair Rentals at Beaches request TRANSFER BUSINESS Nantucket Land Bank Commission Regular Meeting of June 9, 2015 1. May 2015 Transfers — Record Nos. 36264 through 36343: a. Current "M" Exemptions and Liens: No. 36301 William Patrick Norris No. 36308 Tigran Baghdasaryan No. 36338 Allyson E. S. Bold and David M. Bold