MEETING MINUTES – DECEMBER 2017

MINUTES

BOARD OF DIRECTORS MEETING

DECEMBER 4, 2017

A.     Organizational Matters

I.               Attendance- Board members: L. Daily, D. Potack, P. Halayko, A. Niles, J. Surace, K. Mejia, D. Glenn, K. White.  Others Present: M. Fletcher, D. Rothman, B. Blackman, A. Blair

II.              Minutes—approve October 2017 board meeting minutes- D. Potack makes a motion to approve the October 2017 meeting minutes, P. Halayko seconds and all approve.

III.            Review of meeting dates and times- 2018 Calendar options—Proposal to switch to an every other month board meeting with alternate months having committee meetings. Proposed: 3rd Monday of every other month starting January 2018 for board meetings.  The board agrees to move to this schedule with meetings on the following proposed dates for publication: Jan 22 (4th Monday b/c of MLK); March 19; May 21; Jul 16 (Also annual meeting date); Sept 17 Nov 19.   M. Fletcher to schedule governance, finance, and audit, plus any committees that the board may want to create such as planning, etc.

IV.            Additional committee discussion-planning, etc.

V.              Financial Report—Update on accounting transition—In January meeting, a review will be prepared by Bowers and presented to board.

VI.            Strategic Plan review and adoption—J. Surace made a motion to adopt the strategic plan and D. Glenn seconded the motion. All approved.   As part of the discussion K. Mejia suggested additional discussion with city regarding shared tax revenue with City per land bank act in future budgeting.

VII.           Employee Introduction—M. Fletcher introduces Amy Blair as the new administrative manager who will oversee all administrative tasks including record keeping, accountant interface, etc. Amy was previously the Associate Director for Adminstration and Finance at Baruch College’s Newman Real Estate Institute.

B.     Property Related Matters

I.               Property Update

a.     55 Farrington—The sale price is $75,000.  We are working with a local family who are long time residents of Lander Street to get them set up to do the section 8 homeownership program.  If this does not work out early in new year, we will reach back out to our list of potential purchasers.  K. Mejia recommended that we market at Varick Homes, which has a lot of long term residents.

b.     Clean out of 19 properties acquired in September—Property clean out has started and work is being handled by both Property Management and by Libolt contracting firm. Goal is to complete all needed clean out and essential stabilization early in new year.

c.     RUPCO project update—first 4 buildings to be complete on South Miller Street in January with goal of Feb 1 occupancy. The units have been advertised and M. Fletcher will get an update on the # of applications.  Board discussed whether we could collaborate with Safe Harbors and host an application workshop at the Ritz.  M. Fletcher will discuss with Safe Harbors regarding how we can assist.

d.     50 Chambers Transfer Complete

II.              96 Broadway Update—Philippe Pierre presented an update and request for added time.  He updated the board that a restaurant operator has been identified, the spill issue from the tank found and excavated, and HOME funds have been secured. P. Pierre reported that they are working to get a commitment from CPC but because of the meeting schedule and materials needed, they will not have final commitment by Dec 31. D. Potack makes a motion for a thirty day extension to be reviewed at the January board meeting to allow for the securing of the loan. P. Halayko seconds and all approve. Review of the status will be on the January 2018 meeting agenda. 

III.            Update on solicitation of inquiries from non-profit developers for LIHTC/HTC round 2. M. Fletcher reported that she had advertised and emailed seeking any letters of interest from developers re: a second round rehab rental project but that no responses had been received.  Wanting to ensure that a wide audience was reached, K. Mejia asked for additional distribution.  M. Fletcher agreed to publish the request in regional and national publications.

IV.            157 Grand St—time extension. W. Ragle has been working on completion of the renovation at 157 Grand Street and the payment of the full purchase price was going to be due Dec 29 on the one year anniversary of purchase to allow purchaser to access equity. This was a pilot scenario to see whether local purchasers with skills, but limited capital would be able to unlock home equity from their sweat equity. Mr. Ragle has requested an extension of time to allow for completion.  J. Surace made a motion to approve an extension of time until March 31, 2018 with a review of the status of the project to be on the agenda at the March 2018 board meeting.  A. Niles seconds the motion and all approve.

V.              Community Garden--CDBG extension for 1 year –The contract with the City regarding supporting the community garden project and downing park urban farm project ended Dec 31, 2017. Board decided that they would like the projects to become independent as planned at the outset.  To ease the transition for the community garden portion, Board would consider supporting the project with NCLB funds until fiscal sponsorship can be secured.  D. Potack makes a motion to extend relationship on the community garden project and to self fund it for 3 months in a total amount not to exceed $12,000.  D. Potack makes a motion and K. Mejia seconds.  All approved.

VI.            Environmental Services RFP Update – B. Blackman presents the matrix of different proposals received for environmental evaluation services. WCD appears to offer the highest quality for the most reasonable price so P. Halayko makes a motion to approve WCD for environmental services and J. Surace seconds. All approve.

VII.           Neighbors for Neighborhoods Update& Urban Initiatives Update—approved properties.  M Fletcher presents that 104 Washington, 167 N Miller and the carriage house at 290 Liberty are approved out of all potential projects for Neighbors for Neighborhoods.  18 Lander, 104 Washington St, and 29 Chambers Street are eligible to receive the Urban Initiatives funds, which will be expended by Jun 2018.

VIII.         Community Engagement presentation- Burke Blackman presented the results of his extensive interview process of the course of a year. He interviewed more than thirty neighborhood residents in a long form interview format that took about an hour and that offered a local restaurant gift certificate in exchange for full participation. 

Next meeting January 29, 2018