MEETING MINUTES - JULY 2016

MINUTES

BOARD OF DIRECTORS MEETING
JULY 20, 2016

A.    Organizational Matters

I. Call meeting to order 4:03

II. Attendance- Present: Karen Mejia, Deirdre Glenn, Paul Halayko, KevinWhite, Lisa Daily.  Absent: David Potack, Michael Ciaravino,

III. Minutes-Approve Minutes of June 2016 Board Meeting- Deirdre Glenn made motion to approve the minutes, Karen Mejia seconded the motion.  All approved.

IV. Financial Statements- Key Metrics Monthly financial report presented for review

V. Insurance Presentation—Jim Grooms, Brown & Brown—Presentation concerning new insurance recommendations including property, labor law liability, construction risk, etc. Brown & brown developed a comprehensive package of insurance policies specially tailored for Land Banks.  Several other Land banks have elected to utilize this package.

B.    Property-Related Matters

I. Property Progress Updates- 10 Chambers Street is still awaiting environmental study along with 151 Liberty because the enviro firm will bundle tank monitoring at 96 broadway with testing to save costs. Survey is done and property will be marked. 96 Broadway will be transferred as soon as the tank removal is complete…Permitting is in process.  Upcoming transfers between summer and fall include 27 City Terrace, 61 Liberty St WH, 143 Washington St, 82 Liberty St WH. Final project planning underway for 104 Washington and pricing should be in in August.  

II. 30 S Miller St – transfer to Habitat for homeownership—Resolution to transfer property located at 30 S Miller St to Habitat for Humanity for the purposes of creating affordable home ownership for a sale price of $5,000. No adverse environmental impact is expected as a result of this transfer. Paul Halayko makes motion to approve.  Deirdre Glenn seconds.  All approved.

III. 9, 12 S Miller & 17, 20, 41, 43, 46, 48 Dubois Contract Resolution to transfer properties to Dubois Street Associates for a renovation project to be financed with equity, Community Preservation Corporation loan and Historic Tax Credits for a total sale price around $163,500. Discussion regarding non-displacement of existing several tenants took place and assertion that tenants would retain their right to their housing. Also discussed that the occupant of 41 Dubois was approached.