BOARD OF DIRECTORS MEETING MINUTES January 15, 2025
A. Organizational Matters
I. L. Daily called the meeting to order at 4:11p
II. Attendance: L. Daily, (Chair) A. Church (Vice-Chair), C. Carter, D. Duncan, R. Monteverde, J. Werner (remote). Others Present: J. Welles (Executive Director) E. Talbott (Project Director) J. Sidd (Legal Counsel) Eileen Clifford (Director, PathStone) Absent: A. Niles (Secretary), A. Schrijver, S. Sargent, T. Venning (City Manager)
III. Review & Approval of December 2024 Minutes. A. Church made motion to approve, C. Carter seconded. All members approved with hand raises, none opposed.
IV. Review & Approval of December 2024 Financial Reports review: J. Welles reviewed balance sheet noting that $83,000 remains for LBI Phase 1 (operating), and $1.2M remains for LBI Phase 2 (capital/noncap). The original 18 month term of Phase 2 was extended to March 31. Round 2 can be applied for when prior award is 75% disbursed. Profit & loss by month. Property sales for December 2024 are $839,000 (after sale of 63 Lander St on December 5. Reflects full value of the grants used to rehabilitate property ($450,000 NYS grant, $100,000 Orange County grant and Land Bank Initiative). In addition to developer’s fee. Purchase price was $294,000 and buyer received other down payment grants that reduced the overall purchase price. Regular operating expenses for the month were $29,000 typical of other months. A. Church motioned to approve, C. Carter seconded it. All approved with ayes, none opposed.
V. Quorum check in for February 19 meeting – J. Werner will be attending via zoom from Florida.
B. Property Related Matters
I. New development/in progress:
1. Legacy Cities:
a) Construction update – Next phase at 39 S Miller St & 136 Lander St is completion of final inspections and application for certificate of occupancy.
II. Review applications for 136 Lander: PathStone sent one complete application package from Megan Gallante in January for 136 Lander St. Patricia Harbin was offered the remaining property for sale but was not interested due to the location. Ms. Gallante currently lives on the same block of Lander St in a rental unit. The board members reviewed the application. There were no additional questions. C. Carter made the motion to approve the applicant, D. Walker seconded it. All other members approved with 5 ayes and 1 abstention.
III. Land Bank Initiative – update on projects:
a) 128 Dubois – Permit application submitted. Met on site with Code Officers from City of Newburgh Building Department to walkthrough site. Officers requested certain improvements for access and safety that will be implemented. Doug Kelly, Sr. Project Manager (Lemle & Wolff) had kickoff meeting with Jeff Wilkinson R.A. on Thursday. Mr. Wilkinson will be providing construction administration services for this project.
b) 44 S Miller St – QuES&T visited the site on January 7 to sample materials on exterior and accessible interior areas of the building. Waiting for results and report to determine next steps.
c) 140 Chambers – Permit application submitted and working on finalizing agreement with Carlos Arturo Contracting.
2. Acquisitions –
a) Property disposition list from City of Newburgh – J. Welles reported that the annual presentation to the City Council will be on January 23. The presentation includes an overview of the Yearly Review and a proposal to purchase (15) properties for the city.
II. Sales/NCLB Development Projects:
1. 143 Washington St–New LBI Phase 2 request is $288,750. Anticipated closing date in by end of March 2025.
2. 104 Washington St – Mistral has land use board approvals but has to return to IDA for PILOT modification.
3. 146 South – reverter action: Owner responded to motion through legal counsel, and requested a conference with the judge. Judge denied request for conference. Owner’s attorney has not communicated since.
4. Restore NY project 72-76-78 Lander update: Cleanouts (72+78) are complete and temporary structural brace is installed at 78 Lander to support failing lintel. Structural engineer to return to take more accurate measurements for layout plan. We are working with Open Structure on conceptual plans and working to acquire two additional lots for parking, circulation and adjacent infill opportunities of what is planned to be a multifamily rental development of at least 12 residential units and (1-2) commercial units.
D. Meeting adjourned at 4:58p. A. Church motioned, seconded it. All approved with ayes.
E. Next Meeting: February 19, 2025, at 4p