MEETING MINUTES - OCTOBER 2016

MINUTES

BOARD OF DIRECTORS MEETINg
OCTOBER 20, 2016

A.    Organizational Matters

I. Call meeting to order

II. Attendance — PRESENT: J. Surace, L. Daily, A. Niles, K. Mejia, D. Glenn, K. White, D. Potack

III. Minutes-Approve Minutes of Sept 2016 Board Meeting — J. Surace motion, A. Niles 2nd.

IV. Financial Statements: Monthly financial report —Treasurer not in attendance, so financial report will be made in December 2016 mtg. Madeline announced that P. Halayko (not present) requests to transfer his Treasurer duties, but remain on the board due to recent work obligations with his growing business conflicting with meeting times, and less time to manage his responsibilities. Board approved his request— D Glenn motion, K. White 2nd. D. Potack offered to step in as interim Treasurer. A. Niles motioned, J Surace 2nd.

V. EXECUTIVE SESSION: Personnel Discussion

Proposal for amended procedures for NCLB 2017.

B.    Property-Related Matters

I. Property Progress Updates. Madeline shared the “scorecard” spreadsheet with Property progress including Address, Disposition Status, Purchaser, & Notes. D. Potack requested added identification of active/inactive projects, available v banked, sale price.

II. 121-123 Lander St Proposal — C. Carbonero is a contractor from Queens NY who proposed to purchase the property to create two duplex apartments and reserve one for himself as a part time residence. He plans to split his time between Newburgh and Queens to develop, then manage the property. He proposed to develop the adjacent lot into residential apartments or possible mixed use building. In the interim, it would serve as an outdoor space and parking lot for tenants. K. White raised concerns regarding the importance of corner lots and limited qty of those lots in the LB’s holdings. He requested more detailed information and specific timeline for development of the corner lot before approval for purchase. D. Potack agreed and board approved sale of 121 Lander, but tabled approval of 123 until further plans and timeline are submitted for review by the board. K. White motion, D. Potack 2nd.

III. 59-63 Lander St Proposal — J. Conception is a contractor/developer form Long Island NY who proposed to purchase the two properties and renovate them into multi-family residences with off street parking. He proposes that his company undertake all of the construction, and hire licensed plumber and electricians to complete the work, Mesh Realty to manage the properties. K Mejia mentioned that these properties exist at the center of a really hard block where most units are rentals interspersed with lots of vacancy, and there is a need for stabilization and solid rentals before owner occupants may consider investing in the neighborhood. She brought up the long list of properties completed by J Conception, Madeline suggested NCLB perform due diligence and check the condition of the properties for any outstanding violations / conditions to support the board approval. D. Potack motioned for approval of purchase based upon positive results of the due diligence and condition upon sale that the adjacent alley to 59 Lander be maintained to code. D. Potack motion; K. Mejia 2nd.

IV. Tabled proposal discussion — Mr. Kaelin’s responses to the Boards request to address concerns raised at the last meeting were circulate. Keeping in consistency with NCLB disposition policies and the City’s goal of increasing homeownership along this block, the board decided not to approve sale. D. Potack motion, K. White 2nd.