BOARD OF DIRECTORS MEETING MINUTES June 18, 2025
. Organizational Matters
1. L. Daily called the meeting to order at 4:11p
2. Attendance: L. Daily, (Chair), A. Church (Vice-chair), A. Niles (Secretary), C. Carter, A. Schrijver Others Present: J. Welles (Executive Director) E. Talbott (Project Director) J. Sidd (Legal Counsel) Absent: D. Duncan, R. Monteverde, T. Venning (City Manager), J. Werner
3. Review & Approval of May 2025 Minutes. A. Church made motion to approve, C. Carter seconded. All members approved with hand raises, none opposed.
4. Review & Approval of May 2025 Financial Reports: J. Welles gave an overview of the financial statements. The opening operating account balance is $324,586.56. Application for new round of LBI Phase 1 operating funds is due in mid-July. The current fiscal year ends June 30, 2025. J. Welles reported that Dyson Foundation awarded NCLB with 2-year operating grant of $50,000 ($25k per year). A. Schrivjer asked if the Land Bank earned a Developer’s Fee for home sales. J. Welles replied that a fee was earned for the Newburgh Legacy HDFC project. A. Church motioned to approve, A. Niles seconded it. All approved with ayes, none opposed.
5. Hudson Valley Gives May 21 – online local fundraiser. The land bank received $400 for the event.
II. Property Related Matters
1. Legacy Cities Access Program:
a) Phase II: 140 Chambers, 128 Dubois, 44 S. Miller, 11 S. Miller, 238 First: 5 properties are proposed for full-scale renovation in new round of LCAP. Likely that 44 S Miller will be dropped from the program given the high costs received for abatement work RFP. Other buildings will be stabilized using LBI Phase 2 funds prior to underwriting for full-scale reno. Anticipate acquisition of 11 S Miller St in the Summer 2025. A. Schrivjer asked if the land bank had ever considered a rent to own project using Historic Tax Credits that requires a minimum of (5) buildings. Need to understand more about the process to determine if this can work with a tax exempt organization. There was an extensive discussion about 44 S Miller St among the board about the practicalities and limitations of saving the structure. The project may be more impactful if there was a way to assemble 44 S Miller with adjoining vacant lot, though this scenario may present additional variables. Other potential paths forward were discussed. A. Church commented that she has the contact of structural engineer that specializes in historic preservation, and that she can reach out to request a site visit. There is time for additional discussion about means and methods to save or demolish the building because the abatement subcontractors are busy until early August.
b) Preliminary underwriting initiated with CPC – conversations and analysis of proposed properties slated for full-scale renovation in an additional round of LCAP began. It is anticipated that underwriting may be completed by early 2026. However, stabilization of existing buildings and updated cost estimates are needed asap.
2. Land Bank Initiative –
a) 140 Chambers, 44 S Miller, 128 Dubois stabilization plans: 140 Chambers exterior work at 85-90% completion. Stabilization @ 128 Dubois, we are pivoting to perform additional measures to preserve funds invested into structure. Extra work includes façade work (re-pointing), roof parapet repair, waterproofing, grading and sitework.
b) 238 First emergency clean-up and repairs: Extensive dumping and squatting occurred at this property in Spring 2025. In early June, the property was cleaned and an 8 foot rental fence installed around the perimeter. Appears to be deterring any additional nuisance activities. Inspecting property on daily/weekly basis. In discussions with our architect and general contractor to potentially remove front porch to further discourage trespassing and squatting. Demolition permit will be needed prior to any work.
3. Restore NY project: 72-76-78 Lander update:
a) Architecture and Engineering Plans update: working with local structural engineer (JPO) and Open Structure to produce conceptual plan, programming and stabilization drawings. Next steps include finalizing A&E plans, obtaining local approvals for rehab of existing buildings and new construction (RFI, ZBA, Planning Board) and completing NYS SEQR review to spend capital dollars on the buildings.
b) RFP for stabilization and asbestos remediation: Environmental surveys determined that asbestos is present in 72 Lander St (walls) and 78 Lander St (walls & flooring). No extensive shoring will be required at these properties. An asbestos survey was not conducted at 76 Lander due to unsafe condition of building. It is presumed that all materials removed here will be considered asbestos containing materials (ACM) or regulated ACM (RACM) and that some structural shoring will be required.
c) Preliminary underwriting initiated with CPC: Initial underwriting looks promising.
4. 143 Washington St - update on closing: BJH has received an updated bid from Baxter. Next steps include returning to CPC Credit Committee for underwriting and obtaining an updated commitment letter.
5. 146 South – reverter action: Waiting for court date. Attorney will be seeking affidavits from J Welles on failure to comply with completion deadline and the building inspector regarding unauthorized construction at building.
6. Property Acquisition: Update on transfer of City-Owned properties. The land bank no longer wants to acquire 231 First following site visit to inspect the buildings. The following properties approved by the City Council and NCLB will be acquired this summer: 11 S. Miller (building) 161 Lander, 302 Grand, 47 Lutheran, 109 Chambers, 191 South, 41 Lander, 43 Lander, 68 Campbell, 61 Campbell. In addition, 90 Gidney and 15 S. Johnston will be acquired later when funds allow.
III. Executive Session: none
Meeting adjourned at 5:22p.
E. Next Meeting: July 15, 2025, at 4p