MEETING MINUTES - MARCH 2016

MINUTES

BOARD OF DIRECTORS MEETING
MARCH 16, 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
Fred Visconti   
Andre Niles
Paul Halayko
Joe Surace

Board Members Absent:

David Potack
Michael Ciaravino

III.            Minutes-Approve Minutes of January 20, 2016 Board Meeting

Resolution: Fred Visconti moves to approve January 20 meeting minutes.
Second: Paul Halayko Vote: Favor: ALLOpposed:---

IV.            Financial Statements-Review Review Per Property Information and Key Metrics Monthly financial report.

Discussion: Members of the board had questions about how to proceed with properties that have been “banked”. NCLB staff will determine the average cost for holding a property so that we can determine how much it will cost to bank 14 properties. When the next round of OAG funding becomes available the NCLB can request funding for demo work.  Other properties such as 162, 167 North Miller are not within the OAG scope.

V.    Discussion of HDFC Reimbursement

Discussion: NCLB incurred expenses on behalf of the Newburgh HDFC for the development of 13 Chambers St that were reimbursed to the HDFC.  Payment will be made by HDFC to NCLB to reimburse NCLB.

B. PROPERTY RELATED MATTERS

I.               Property Progress Updates:

Discussion: a few months ago the board approved a contract of sale to Patrick Doyle for 121 Lander Street, and since then we have heard nothing from Mr. Doyle for a few months. NCLB staff is going to re list the property as available on the website. The board suggested that perhaps we keep all properties listed on the site until they are under contract.

In the next quarter the NCLB will close on 61 and 82 Liberty, and 53 Beacon Street. By the end of June NCLB will close on 15 ½ Overlook.

II.              Contracting Standards:

Discussion:  There has been an ongoing discussion about proper wages for ongoing asbestos work.  In the interest of ensuring that asbestos abatement workers are paid in an amount reflecting market wages, NCLB would like to voluntarily pay rates reflective of regional market rates.

Resolution: Karen Mejia moves to amend contracts with contractors to reflect an amount to cover paying market wage rates to employees
Second: Lisa Daily   Vote: In favor-ALLOpposed--None

III.            Fulcrum group working on Dubois Street Project would like to offer $75,000 for 46 Dubois Street (appraised at $90,000).

Discussion:  46 Dubois Street is fully occupied building that the NCLB had appraised because it was recently renovated and fully occupied.

Resolution:  Joe Surace moves in furtherance of the mission of NCLB, to enter a contract of sale with Fulcrum or its associated entity for $75,000 following negotiation from the Appraised value.  No adverse environmental impact is expected as a result of the transfer of ownership and subsequent improvements to this buildings.
Second: Fred Visconti    Vote:  Favor: ALLOpposed:---

Next Meeting : April 20, 2016, 4 PM