BOARD OF DIRECTORS MEETING MINUTES September 20, 2023

A. Organizational Matters 

 I. L. Daily called the meeting to order: Meeting called to order at 4:05p

II. Attendance: L. Daily (Chair), A. Church (Vice-Chair),  A. Niles (Secretary), R. Monteverde, Others Present: J. Welles (Executive Director) )Absent: A. Morales,  T. Venning, J. Surace

III. Review & Approval of August 2023 Minutes No comments or changes proposed to minutes.                    

A. Church made motion to accept as presented. A. Niles seconded. All members approved with ayes, none opposed.

IV. Review of August Financial Reports review and approval: A. Niles made a motion accept as presented.  A. Church seconded it. All members approved with ayes, none opposed.

 B. Property Related Matters 

I. New development/in progress: 

 1.     Legacy Cities update: 59 Lander & 63 Lander are under construction.  J. Welles reported that construction is moving ahead a good pace.  Rough framing is nearly complete in both buildings and structural work is done.  Marketing for the homes was started on the website. Pathstone will process all applicants through their intake process.  An info session for prospective buyers will be held in the office and virtually on October 11.  NCLB will also participate in a Homeownership Expo with Pathstone and Habitat for Humanity on October 25.

2.     Land Bank Initiative: LBI Phase I funds for operating costs was renewed for another $200,000 for Year 2.  We have started to drawdown on Phase II funds for project costs and working our way through the environmental review process.

3.     Acquisitions from the City of Newburgh

A.  Lander St. lots:  35-37-39 (from church). 41-43 (from City) –  The borderline agreement with the owner of 43 Chambers was signed and will be recorded with the County.  The borderline agreement with the City for 41 Lander is on the agenda for this week’s City Council work session, as well as the License Agreement between the City and NCLB to carry out predevelopment activities on 41 and 43 Lander.  Once approved, we can move ahead with the purchase of the 35-37-39 Lander from Holy Deliverance.

B.     Restore NY project: 72-76-78 Lander. Resolution was passed in previous meeting authorizing NCLB to enter into a Site Development Agreement with City– However, the City Council still needs to review and approve at a future meeting.

II. Sales/NCLB Development Projects: 

1.     143 Washington- update; BJH did not receive approval for Orange County HOME application.  They are looking into alternative means to close financing gap ($400,000), but don’t know of other options.  NCLB could possibly apply for additional Land Bank Initiative funding and pass through.  Board suggested giving an deadline to resolve the shortfall by the end of the year or we will terminate the Purchase and Sale Agreement that was signed in 2020 and give notice of same to BJH 45-90 days prior.

2. 10 Chambers- no update- still awaiting environmental easement to be issue by NYS DEC

3.     104 Washington- Mistral applied for NYS ESD Midhudson Momentum Fund grant to cover financing gap.  They shared a copy of their budget with the board, but missing details, such as per unit cost, unit count.  Also, we have not been given an updated description of the project since significant changes have been made. J. Welles to request update.

A.     Artist in Vacancy–   NCLB will participate in the upcoming Newburgh Open Studios on Sept 30 and Oct Alison McNulty has created an installation at 39 S. Miller.

 B.     Meeting adjourned at 4:45pm. Motion made by L. Daily, all approved

E.  Next Meeting:  October 18, 2023 at 4pm