MEETING MINUTES - JANUARY 2017
MINUTES
BOARD OF DIRECTORS MEETING
JANUARY 17, 2017
A. Organizational Matters
I. Call meeting to order at 4:06
II. Attendance — PRESENT: L. Daly, K. White, K Mejia, D. Glenn, D. Potack, P. Halayko, A. Niles
III. Minutes - Approve Minutes of Dec 2016 Board Meeting — D. Potack makes motion, A. Niles seconds. Motion carries.
IV. Financial Statements- Financial report — The quarterly financial report was presented based on the new accounting system and book keeper. M Fletcher explained the changes in the record keeping. P. Halayko and D. Potack comment on length of report and incorporating A/P Detail and Expenses by Vendor Summary into Profit and Loss 1 page summary. M. Fletcher to clarify if report is being calculated by cash or accrual basis, and recommend accrual basis. Updated report to be shared at next meeting.
V. 2017 Calendar — Board Meeting schedule will permanently change to 3rd Tuesdays throughout the year, with the exception of March, where the meeting will be held on Tuesday March 28th, instead of Tuesday March 21st. Karen Mejia motioned, D. Glenn seconds. Motion carries. M. Fletcher will project the dates of the Meetings through 2017 and circulate at next month’s meeting.
VI. Audit Update/Review — Audit Report was presented to the Board. Madeline will facilitate conversation between Auditor with the recommendations re: cost value and estimated fair value on a periodic basis and the book keeper. D. Potack motions, A. Niles seconds. Motion carries.
B. Property-Related Matters
I. Property Progress Updates—Spreadsheet Review. B. Blackman prepared Impact Overview with key figures for Land Bank properties and impact made in 2016. Overview included: number of properties acquired, method of acquisition, Properties restored to Productive Use and their Uses, Properties Sold and whom they were sold to, Sales Proceeds Received, NCLB Work Competed to Date such as demolition, abatement and stabilization, and full renovation, total NCLB Investment, Leveraged Investment, Property Valuation and Tax Effects, as well as Total Housing Units generated. Recommendations from P. Halayko and D. Potack to show break down of 82 properties, and their status, ie. Sold, In contract, Under construction, Banked. An overview list of all properties previously and currently held by the Land Bank also circulated. Yearly Review Brochure hand out with property map also distributed to the Board. L. Daly requested a section to state all of the Board Members names. K. Mejia, D. Potack and P. Halayko commented on updating Impact Overview and Yearly Review to reflect same numbers.
II. 21,23,25 Johnston – Habitat for Humanity Builders Blitz Proposal. M. Fletcher presented Habitat’s proposal to purchase the two vacant lots at 21 & 23 Johnston and existing building at 25 Johnston which abut their properties on S Miller at the rear. They propose the row to be a combination new construction / rehabilitation blitz build slated for 2018. The Board discussed the current assessment for the value of the vacant lots and property. The properties are currently valued at $10,900 ea for 21 and 23 Johnston, and $67,700 for 25 Johnston, which are significantly higher than NCLB valuation pricing. The Board tabled the project until new terms of valuation and pricing are agreed upon moving forward with properties sold in 2017.
III. 59 Chambers St discussion/proposal review—Robert Fontaine presented a proposal for the purchase and development of 59 Chambers. The Board voted to offer the vacant lot to R. Fontaine for the sale price of $1,000. P. Halayko motions, D. Glenn seconds. Motion carries.
IV. NYS OAG discussion – waiting for final announcement of 3rd round Community Reinvestment Initiative grant.
V. Downing Park Urban Farm Plan proposal presented regarding changing the structure of DPUF from staff to contract in order to meet the goals of CDBG, etc. Also discussed concept of green infrastructure project for transitional project for Marcel based on his interests and skills and funding availability with SUNY.