BOARD OF DIRECTORS MEETING MINUTES August 21, 2024
A. Organizational Matters
I. A Church called the meeting to order at 4:04p
II. Attendance: A. Church (Vice-Chair), A. Niles (Secretary), C. Carter, D. Duncan, R. Monteverde A. Schrijver, J. Werner Others Present: J. Welles (Executive Director) J. Sidd (Legal Counsel), Absent: L. Daily (Chair), S. Sargent, E. Talbott (Project Director), T. Venning (City Manager)
III. Committees:
IV. Review & Approval of July 2024 Minutes. Correction to Item #5 of Fundraising update J. Werner floated an idea for a fundraising cocktail party at his home in Cornwall, not at Cornwall Yacht Club.
A. Niles made motion to accept minutes with correction to item No. 5. All members approved with ayes, none opposed.
V. Review of July 2024 Financial Reports review and approval: J. Welles reported that the July 2024 is the first month of the fiscal year. Cash balance is low. More grant funding and sales revenue expected in next month or two. Negative net income for month. Dates for closings are not set but anticipated for early October. J. Werner made the motion to approve. A. Schrijver seconded it. All members approved with ayes, and hand raises. None opposed.
VI. Fundraising update –
VII. ARCHtober Festival land bank tour: J. Welles commented that NCLB would be participating in part of the 2ndAnnual festival sponsored by the Fullerton. Their programming will run through the entire month of October. Jen is leading a walking tour on October 6th, 3-5pm (TBD) hopefully in conjunction with RUPCO to highlight work on Lander St. and partnerships that impacted the area. RUPCO can also discuss their homeowner repair grant program. Board discussion included ways to capitalize on the event. J. Werner asked if there had been any thought given to making t-shirts for the event to advertise the land bank and potentially generate conversations. A. Church suggested name tags for board members and signs to highlight land bank properties for the walk.
VIII. Quorum check in for Aug 21 meeting. (J. Sidd will not be available)
B. Property Related Matters
I. New development/in progress:
1. Legacy Cities:
a) Construction update - Legacy Cities program update. 59/63 Lander St. finishing up punch list items. Working towards getting Certificate of Occupancy. Few items to be addressed per C/O inspection. 39 S Miller St and 136 Lander St are more than 60% complete. Will start advertising for these properties in September and work with PathStone to facilitate the intake process, homebuyer education and mortgage readiness.
b) Purchasers update: 59 Lander St – small mortgage readiness item to iron out but process is moving along. 63 Lander St - purchaser is now in contract as of 8/20.
2. Land Bank Initiative – update on projects:
A. 44 S Miller St - waiting on environmental testing to move ahead with plan to stabilize the building. We have draft agreement with general contractor C. Carbonero Sr. Need to finalize scaffolding plan & lease agreement, conduct environmental testing and move to finalize project contracts with defined scope of abatement work.
B. 128 Dubois – J. Wilkinson will be working on repair plans. The scope includes framing repairs and masonry.
C. Third Street – Anticipating that Habitat for Humanity will be moving forward with abatement work and start invoicing for reimbursement.
D. 143 Washington St – J. Welles reported that BJH has approval from CPC to move ahead with underwriting. Received a letter from Tax Assessor indicating their assessed value would be lower based on their affordable rents. This changed the numbers sufficiently to move forward with the project. Applicants are also putting more of their own funds into the project in addition to they are optimistic they will receive Clean Energy Initiative funding. Hopefully a closing by fall. No commitment letter provided from CPC yet.
3. Acquisitions –
a) Restore NY 72-76-78 Lander- J. Welles reported two agreements have been negotiated with the City; site development agreement and subrecipient agreement ($1.45 million). SDA enables us to go into the buildings and perform assessment and evaluation of the buildings to plan stabilization process. Plan is to rehab as 12 units of affordable housing. Corporation Resolution draft for Board members to review. If approved then is will go to the City Counsel for their vote. C. Carter made motion to approve draft Corporate Resolution. A. Niles seconded it. All approved with ayes, none opposed.
b) 238 First St – acquired end of May (donation). Since acquisition we put up temporary fence and had a structural engineer visit the site to provide an inspection report for the garage (converted) and main house. Structural engineer recommended demolition garage heavily damaged from fire. Board members discussed how the building may be redeveloped and if the building footprint would limit opportunity. Ideas for replacements include an accessory dwelling unit. Newburgh’s codes allow for ADUs. J. Welles recommended assembling 238-40 First St with other properties for future rounds of Legacy Cities or other NYS HCR programs.
c) Property disposition list from City of Newburgh – J. Welles reported that in coordination Open Structure reviewed the City’s list of available properties to strategize acquisitions. The list includes a mix of in-rem and past tax foreclosure properties (before Tyler vs. Hennepin County). Properties that were foreclosed prior to change in law can be transferred for a nominal fee, properties after the change in law must be sold for assessed or appraised value. The list was shared with the land bank and Habitat for Humanity. A priority list of properties proposed for acquisition from the City was shared with board members to review and comment. A few structures, and several lots all located in our target area were selected.
II. Sales/NCLB Development Projects:
1. 143 Washington St – BJH received confirmation from CPC that underwriting can begin. BJH indicated construction finance closing for Fall 2024. At which time the land bank would receive sales proceeds.
2. 104 Washington St – Mistral returned to Architectural Review Commission for changes to the building’s exterior height and to the Planning Board for an expansion of proposed commercial space. Construction financing is in place. Applicant is pending current approvals to apply for building permit. Start date anticipated in fall 2024.
3. 10 Chambers – A. Church reported that there is a form that has to be filed in order to get the environmental easement & clearance process started but for now, to limit risk, the City’s Corporation Counsel is holding off until more research can be conducted about the procedure.
4. 146 South – reverter action: No update. J. Welles commented that we are waiting for a decision on the motion for a default judgement..
5. Lander Street Lots – update: Open Structure produced mapping of the site and created scale models of structures to explore what can be built on the lots. The models help visualize what is possible within the current zoning code. For example row houses and other housing types. The project built on the site will have to address parking concerns and demand from the neighborhood. Board members discussed the challenges presented by parking minimums versus no parking minimums.
6. Street Trees: J. Werner reported that he had spoken with Schichtel's Nursery near Oneonta, NY. The have a large selection of saplings of varying diameters. The larger the caliper the more expensive. Bareroot tree stocks can save money because they weigh significantly less. He learned that the nursery participates in NY Power Authority tree matching program. They charge a one-time fee to deliver trees and don’t offer planting services. J. Welles reported that she met with Kathy Lawrence of the Newburgh Greater Parks Conservancy. They have a program for Environmental Justice Fellows that the land bank may coordinate with for planning, planting and care of street trees. The Conservancy has an established system for preparing and planting street trees in the City.
C. Other:
I. Executive Session – none
II. Pocket Park proposal (interim) – K. Lawrence and J. Welles discussed the possibility of creating a pocket park. Board members discussed the benefits of activating vacant lots in the neighborhood with pocket parks.
D. Meeting adjourned at 5:17p. Motion made by A. Niles. Seconded by A. Schrijver. All approved with ayes. Annual meeting to follow.
E. Next Meeting: September 18, 2024, at 4p