MEETING MINUTES - JANUARY 2016
MINUTES
BOARD OF DIRECTORS MEETING
JANUARY 20, 2016
A. ORGANIZATIONAL MATTERS
I. Call meeting to order
Lisa Daily called the meeting to order at 4:07pm
II. Attendance
Board Members Present:
Lisa Daily
Deirdre Glenn
Karen Mejia
Kevin White
David Potack
Fred Visconti
Andre Niles
Paul Halayko
Michael Ciaravino
Board Members Absent:
Joe Surace
III. Minutes-Approve Minutes of December 2015 Board Meeting
Resolution: Deirdre Glenn moves to approve December 2015 amended meeting minutes.
Second: David PotackVote: Favor: ALLOpposed:---
IV. Financial Statements-Review reporting and comment on preferred presentation of information for 2016. Presented: Per Property graphic, Per Property Bar Chart, Profit & Loss, Balance Sheet, Financial Summary.
Discussion: A few different examples of forms to present a snap shot of the financials and how they relate to properties were presented to the board. After review the board agrees the best way to communicate monthly financial update is to highlight current projects and show project budget graphic, bar chart along with key metrics chart. Lisa mentions that it would be helpful to have included the date of acquisition and the date that work has been started. Fred suggests that all of this information be in an excel workbook with different sheets. Paul explained that the Key Metrics template was developed in order to be a quick reference for board members to have at their finger tips if they were asked about the total amount of grants receivable, total number of buildings in the inventory or total number of ongoing projects. thinks This is a summary of the key information of particular interest to board members. Karen Mejia mentioned that it would also be good to generate a total of the taxes that have been contributed back to the City. Paul suggested that we could use the annual snapshot to pro-actively solicit funding from lenders, or non-profits. David suggested developing a mailing list. Another suggestion was to create a place on the website in order to solicit private donations.
V. Committees-Appointment of Committees—Audit, Finance, and Governance
Discussion: the board formed the following committees:
Audit: Paul, Andrei, Fred; Finance: Paul, David, Kevin; Governance: Lisa, Deirdre, Karen. The Governance committee would meet 2X per year to discuss policies. Audit and Finance Committees meet quarterly.
Resolution: David Potack moves to create committees audit, finance and governance
Second: Deirdre Glenn Vote: Favor: ALLOpposed:---
VI. Annual Tax Filings—Authorize Sedore & Co to file NYS and Federal Income Tax filings.
Resolution: David Potack moves to approve the Annual Tax Filing as presented
Second: Kevin White Vote: Favor: ALLOpposed:---
B. PROPERTY RELATED MATTERS
I. Property Progress Updates:
Discussion: We have finished the asbestos removal for 22,24, and 26 S Miller. Lead will be done tomorrow. There are some remaining grant dollars to put towards a roof. The next projects we are moving on are: 12,21, 46, and 48 S Miller, 57 Dubois, and 82 Liberty. 37 S Miller asbestos, masonry, and roof project is pending. 157 Grand is almost done. 61 Liberty is Clean. Demo of 143 Washington is complete. David Potack asked that the next agenda discuss the cost/benefits of demo vs. abatement/stabilization.
II. Renew engagement of Mesh Realty/Rick Milton Associates for 2016 under the following terms: $37 per hour for all labor and materials at cost. The management fee for occupied properties is 10% of the collected rents.
Resolution: David Potack moves to approve the engagement of Mesh Realty/Rick Milton Associates as Amended.
Second: Karen Mejia Vote: Favor: ALLOpposed:---
III. Authorize transfer of 53 Beacon Street-Proposal from Josh Mousseau to purchase the property as an owner occupant. Sale price under standard NCLB pricing would be $9,240 as a category 4 property ($6/sf at 1540 sf). This property is part of the Liberty Street Corridor Revitalization Project funded by the NYS OAG grant.
Discussion: Members of the board expressed concern that selling a property to Josh Mousseau might present a conflict of interest as he is working as a contractor on a different property. The NCLB council, David Rothman advised the board that as long as he had not been given any preferential treatment it would not be a conflict of interest. Members of the board suggested that perhaps the NCLB should develop a policy that makes sure that someone purchasing a property is not also a contractor working on the asbestos abatement for example. David Rothman suggests that that language be worked into the contract of sale. A discussion followed around the concern of working with mysterious LLCs that are ubiquitous in the City of Newburgh. Madeline Fletcher responded that so far the Land Bank has not done business with any nameless or faceless entities, and therefore does not anticipate this being a problem moving forward. Our acquisition and disposition policies are drafted to beware of speculative purchasers making sure that everyone is accountable by demonstrating a clean record.
Resolution: David Potack moves in furtherance of the mission of NCLB, to enter a contract of sale with Joshua Mousseau for the fair market value established by our standard pricing policy. No adverse environmental impact is expected as a result of the rehabilitation and re-occupancy of this building.
Second: Andrei Niles Vote: Favor: ALLOpposed:---
IV. Authorize transfer of 130 First Street-Jon Beer and Nadene Grey Speer propose to purchase the vacant lot located at 130 First Street.
Discussion: Jon Beer and Nadene Grey Speer recently acquired 268 Liberty Street for residential purposes and 130 First Street provides driveway access to rear lot parking. The lot is assessed with a Full Market Value of $1,000. This property would be sold “as is.” There is no structure on the lot, it is completely vacant. The board agrees that to have an owner for the lot will improve the lot. Kevin White suggested that the new owners of the lot apply for a lot line change in order to merge the two properties.
Resolution: Kevin White moves in furtherance of the mission of NCLB, to enter a contract of sale with Jon Beer and Nadene Grey Speer for the fair market value established by our standard pricing policy. No adverse environmental impact is expected as a result of the rehabilitation and re-occupancy of this building.
Second: David Potack Vote: Favor: ALLOpposed:---
V. Authorize acquisition of 15 ½ Overlook-Acquire 15 ½ Overlook for the Liberty Street Corridor Revitalization Project in partnership with Habitat for Humanity and the Heights Association for owner occupancy.
Resolution: Kevin White moves to authorize acquisition of 15 ½ Overlookfor the Liberty Street Corridor Revitalization Project in partnership with Habitat for Humanity and the Heights Association for owner occupancy.
Second: Deirdre GLenn Vote: Favor: ALLOpposed:---
VI. Re-release the RFQ to solicit proposals more broadly for abatement and construction services to try to broaden the pool of acceptable contractors.
Discussion: The members of the board agree that the NCLB should re-release the RFQ.
VII. NEXT MEETING
February17, 2016 (4:00 pm-5:30 pm).