BOARD OF DIRECTORS MEETING MINUTES March 19, 2025
I. Organizational Matters
I. L. Daily called the meeting to order at 4:08p
II. Attendance: L. Daily, (Chair), A. Niles (Secretary), C. Carter, A. Schrijver, R. Monteverde, Others Present: J. Welles (Executive Director) E. Talbott (Project Director) Absent: A. Church (Vice-Chair), S. Sargent, J. Sidd (Legal Counsel), T. Venning (City Manager), J. Werner
III. Review & Approval of January 2025 Minutes. R. Monteverde made motion to approve, A. Niles seconded. All members approved with hand raises, none opposed.
IV. Review & Approval of January & February 2025 Financial Reports review: J. Welles reviewed balance sheet. The operating account balance is $24,000. A total of $83,000 remains to be spent for LBI Phase 1 (operating), and $1.1M remains for LBI Phase 2 (capital/non-cap). A. Schrijver motioned to approve, C. Carter seconded it. All approved with ayes, none opposed.
V. Quorum check in for April 16 meeting –
VI. 2026 Proposed Budget – J. Welles reported that the 2026 budget proposes $900,000 in property sales, $200,000 per year in operating support from LBI Phase 1, and $2 Million in capital support for the second round of LBI Phase 2. The budget template requires the organization to project 2 years into the future. Other non-operating revenue anticipated in 2026 includes grants from banks and private foundations. Proposed expenditures include a slight increase in personnel costs to hire a part time position, legal costs, supplies, and insurance. Total proposed revenue for 2026 is $3.3 Million. Total proposed expenses are $3.09 Million for a balance of $291,000. L. Daily commented about revisiting fundraising activities and planning. C. Carter made a motion to approve the 2026 proposed budget and A. Niles seconded it. All approved with ayes, none opposed.
II. Property Related Matters
1. Legacy Cities:
a) Construction update –Last two properties, 39 S Miller St & 136 Lander St are complete. Final bank engineer visit occurred on March 18. Certificate of Occupancy has been obtained, and all final inspections have been closed out. Closings on the sales of both homes are anticipated for early and mid-April.
2. Land Bank Initiative – update on projects:
a) 128 Dubois – Framing repairs underway. GC (Lemle & Wolff d/b/a Alltype Maintenance Corp) has proposed additional scope of work related to closing out rough framing permit
b) 44 S Miller St – QuES&T prepared and submitted a petition to the NYS DOL for Pre-Renovation Asbestos Variance. The general contractor’s crew must undergo training for Allied Trades Asbestos Restricted Handler certification. Asbestos abatement component of project has to be bid out to licensed subcontractor.
c) 140 Chambers – Stabilization and building repairs underway. GC, Carlos Arturo Contracting, has proposed additional scope of work upon uncovering existing conditions.
d) Application for new round of funding: Applying for $2 Million in capital funding for the next round of stabilizations and rehabs. Anticipated submission by the end of March.
3. Restore NY project: 72-76-78 Lander update:
a) Architecture and Engineering Plans update: J. Welles commented that we are working with Open Structure LLC to develop conceptual plan and layouts. In addition to working with a local structural engineer who is licensed. Adding 61 Campbell and 80 Lander to the assemblage is proposed. The lots will provide an opportunity to increase number of housing units and provide driveway circulation and parking.
b) 61 Campbell license agreement: We received the license agreement from the City of Newburgh on March 14. Next steps include ordering a boundary survey and submitting an RFI to see what can be built on the parcel.
4. Lander St Lots: infill construction
a) Architecture plans update: working with Open Structure on design options. NYS AHOP funding stream can provide $200,000 per unit plus $20,000 additional in funds for net zero design. Potential to combine AHOP, LBI, NYSERDA, and construction loan to develop project and pay off construction loan with sales proceeds. To be further explored with underwriting models.
5. 143 Washington St– closing anticipated March/April 2025: Plan is to begin construction asap. BJH is sorting out whether to move forward with original co-developer prior to finalizing CPC commitment letter.
6. 146 South – reverter action: No update from Legal Counsel. Our attorney requested conference with judge but did not get response. Recently new windows were installed. Board members inquired about whether a permit was applied for.
7. 62 Campbell extension request: Purchasers submitted photos showing progress being made on repairing exterior including masonry, windows and roof. Owner requested one year extension. C. Carter made motion to approve one year extension. , A. Schrijver seconded it. All approved with ayes, none opposed.
8. 38 Lander extension request: Applicant requested one year extension. Original proposed completion date October 2025. All land use approvals were granted and permit obtained. Construction commenced. A. Schrijver made the motion to approve one year extension. A. Niles seconded it. All approved with ayes, none opposed.
9. 34 Lander: purchaser last stated that they engaged an architect, who shared existing layout drawings, but no updates in a while. J. Welles contacted the owner (Ricardo Sanchez) and who requested a call but did not respond to phone call. Next steps to send a letter with list of architects and give a deadline for building permit.
III. Executive Session: none
Meeting adjourned at 4:57p.
E. Next Meeting: April 16, 2025, at 4p