MEETING MINUTES - OCTOBER 2021
BOARD OF DIRECTORS MEETING
MINUTES - DRAFT
October 20, 2021
A. Organizational Matters
I. Call meeting to order – Meeting called to order at 11:30 a.m. by L. Daily
II. Attendance – Members via Zoom: D. Potack, A. Church, L. Daily, R. Monteverde, J. Surace.absent: A. Niles. Quorum was established. Others: D. Chafiyadeh, A. Filosa, D. Mangaser, E. Talbott, J. Welles.
III. Review & Approval of July 2021 Minutes – D. Potack made a motion to approve the minutes of the July Meeting. A. Church seconded the motion. All approved, none opposed.
III. Review & Approval of Financial Reports: July, August, Sept. 2021- J .Surace made a motion to approve July Report, R. Monteverde seconded it. All approved, none opposed. A. Church made a motion to approve August Report, D. Potack seconded it. All approved, none opposed. J. Surace makes a motion to approve Sept. Financial Report, A. Church seconds it. All approved, none opposed.
IV. Nomination of Argelia Morales and Ivan Anthony Hall to the Board – After a discussion about each candidate, the nomination of Argelia and Ivan Anthony Hall was tabled to next meeting in order to get more information on their backgrounds and involvement in the City of Newburgh.
V. Leviticus Loan approval for House to Home projects – J. Welles updated Board on the recently executed commitment letter with Leviticus for a construction loan to finance the renovations for the land bank’s House to Home Program, including 27 Johnston Street, 43 Johnston Street, 115 Lander and 150 Lander Street. The loan will be repaid from the sales proceeds of each property. D. Potack makes a motion to authorize the Executive Director to execute the necessary documents to secure the loan in the amount of $675,000. A. Church seconded the motion. All approved, none opposed.
VI. Strategic Planning Process with NYCON Consultant – Susan Weinrich –update: Board members will be polled for availability for a 4 hour planning retreat to be held in November or December.
B. Property Related Matters
I. New development/2 Family renovations:
1. House to Home update:
i. 27 and 43 Johnston: J. Welles reported that completion of the renovations is anticipated in December 2021. Staff will start marketing the properties as soon as possible to expedite the sales. A discussion was held regarding sales. J. Welles states that the suggested minimum sales price should be $260,000 for 27 Johnston, a 2 family home and $280,000 for 43 Johnston, a 3 family home. The prices are based on the amounts the land bank needs to repay the construction loan and cover the significant cash investments that have been made to complete renovations. These prices are affordable to households earning at or below 80% Area Median Income (AMI) for the metro area. Additionally, buyers may be eligible for different grants through the SONYMA Program and other local grants. Pathstone, located at 36 Chambers St, will provide homeownership counseling in order to qualify buyers for these programs via local lenders. RDAC in Walden is also applying for AHC grants to be set aside for these properties that can be up to $40,000 per home, depending on homebuyer eligibility and income. The board received a written comment from community member, Melzina Canigan, stating that the prices should be set based on City of Newburgh income levels and she objected to the proposed prices
ii. 115 and 150 Lander: Slated to complete in early Spring.
2. Church of Holy Deliverance: 37 Chambers/Lander St lots update: J. Welles reports that the subdivision process is nearly complete, pending signatures. A. Church states that the City has everything it needs. Suggests reaching out to Chad Wade to see if he has any updates.
II. Sales of NCLB Development Projects:
1. 104 Washington Street update– J. Welles reports closing date tentatively scheduled for Dec. 1st.
2. 143 Washington Street to BJH update – J. Welles reports the developer is seeking PILOT from the IDA; but is reducing their request based on feedback from IDA regarding the number of jobs created. The project is not dependent on the PILOT and they will move ahead regardless. BJH hopes to present to ARC in Dec. or Jan. and started historic tax credit application with the State.
3. Legacy Cities funding for House to Home update – J. Welles provides an update regarding the homeownership project, which is comprised of 6 properties to be owner occupied with rental units, and will have up to 17 total units. Financing to be provided by a grant from HCR with construction loan financing from CPC. CPC received credit committee approval for the project. The land bank will be co-developer with Carlos Arturo Contracting. Newburgh Community Land Bank is likely to be one of the first land banks in the state to be approved for the new program.
4. 128 Dubois – The land bank received two potentially viable applications in response to the Request for Proposals. At 12:32pm: J. Surace makes a motion to go into Executive Session. D. Potack seconds the motion.. At 12:41p.m. the board votes to move out of execute session. A Church moves to accept bid proposal from Garfield Bruff of Boss Partners and authorize the Executive Director to move ahead with executing a Purchase and Sale Agreement. D. Potack seconds the motion. All are in favor. None opposed. J. Surace left the meeting at 12:41 p.m
5. 10 Chambers Street : an appraisal has been ordered to determine pricing. A draft RFP has been circulated to the board.
1. Community Land Trust feasibility study (informational materials provided)
J. Welles explains that the land bank has been asked to be a fiscal sponsor of Dyson Foundation mini-grant to conduct a feasibility study for a Community Land Trust (CLT) in Newburgh. The study would be carried out by Diane Boston with advisement from the Pace Land Use Law Center. D. Boston and the Land Use Law Center also worked on the recently completed Housing Needs Assessment conducted by Kevin Dworka and others. The formation of a CLT was one of the recommendations put forth in the report. A brief discussion was held about what CLTs are. L. Daily suggests tabling committing for fiscal sponsorship to next meeting.
3.Max Dworkin: J. Welles states he is requesting another extension. D. Potack motions to extend a 90 day extension with monthly progress reports.
D. Chafizadeh states that it can be done administratively and no need for a motion. 90 Day extension will be granted.
Meeting was adjourned at 1:00 p.m.
D. Next Board Meeting: November 17, 2021, 11:30