BOARD OF DIRECTORS MEETING MINUTES JULY 15, 2026
I. Organizational Matters
1. L. Daily called the meeting to order at 4:10 p.m.
2. Attendance: L. Daily, (Chair), A. Church, R. Monteverde, A. Niles, C. Carter. Others Present: J. Welles (Executive Director), E. Talbott (Project Director), D. Leonor (Admin. Manager), J. Sidd (Legal Counsel, Hancock Estabrook, LLP) D. Weisz (Legal Counsel) Absent: A. Schrijver, J. Werner, D. Walker-Duncan.
3. Review & Approval of June 2026 Minutes: A. Church made motion to approve the June 2026 Minutes. A. Niles seconded the motion. All members approved with hand raises, none opposed.
4. Review of June 2026 Financial Reports: The Board reviewed the June 2026 Financial Report which reflects the financial balances for the 2026 fiscal year. It was noted that assets and liabilities have increased compared to the previous year due to significant investments made to the properties. Monthly operating expenses have increased slightly in comparison to previous months. The financial report presented was a draft as the audit has not yet been finalized, no motion was made.
5. Annual Meeting (see separate agenda): The Board held their annual meeting on a separate meeting agenda.
II. Property Related Matters
1) Legacy City Access Program
a. Round II: 140 Chambers, 128 Dubois, 11 S. Miller, 238 First: Communication has begun with CPC and HCR regarding the underwriting process for the planned full-scale rehabilitation of these properties.
b. Construction/Predevelopment update – Construction is currently on hold pending the release of funding. Applications for the Land Bank Initiative Funding are still pending and there is currently no date on when they will become available.
2) Restore NY project: 72-76-78 Lander update
a. Structural stabilization update – It was noted that stabilization work at 76 Lander will begin soon.
b. Site Plan Review – Staff attended the first Planning Board Meeting and CAC meeting where positive feedback was received. NCLB staff reported that they were required to present to the CAC for the special use permit applications that were submitted. The permits would allow the conversion of 76 and 78 Lander into a four-family dwelling with street level retail space and will allow 80 Lander to convert from a vacant lot into a parking lot with ten parking spaces. The Architect and Design Team are working on updates to the site plan for the next Planning Board meeting scheduled for September 15, 2026.
3) Purchaser updates
a. 34 Lander – NCLB’s legal counsel sent a proposal letter to the purchaser giving them two options: (1) voluntarily returning the property back to the Land Bank, or (2) sell the property to a third-party buyer approved by the Land Bank and receive proceeds from the sale, equal to the original sale price and the cost of verified repairs. The purchaser notified NCLB Legal Counsel that they would like to be given additional time to obtain the necessary permit approvals and complete the required construction work. The Board will revisit the matter at the next meeting after the owner has attended the ARC meeting scheduled for August 11, 2026.
b. 38 Lander – The Board was notified that a proposal letter was sent to the purchaser by the Land Bank’s legal counsel offering them two options: (1) voluntarily returning the property back to the Land Bank, or (2) sell the property to a third-party buyer approved by the Land Bank and receive proceeds from the sale, equal to the original sale price and the cost of verified repairs. The purchaser has notified the Land Bank that they would like to proceed with selling the property to a third-party approved by the Land Bank. Land bank will wait for the verified repairs from the purchaser and once they are received and verified, an approved third-party buyer will be selected at the Land Bank’s discretion.
c. 146 South – There is an ongoing court proceeding to return the property to the land bank. The Board was notified by legal counsel that the purchaser’s father has proposed settling the case by entering into a deed in lieu of foreclosure agreement that would provide an additional two years to complete the required work and comply with the terms of the deed. The Board is concerned with the request because not much work has been completed since the sale in 2020 and the owner has not gone through the land use boards for approvals. There are concerns about the structural damage to the building and the property’s current condition. NCLB staff will communicate with legal counsel to review the proposed agreement and evaluate what other options are available.
4) Property Acquisition:
a. 88 Gidney and 236 Powell- in contract: Properties are under contract with a closing date scheduled for July 27, 2026.
b. City/land bank acquisition process-(draft agreement): An agreement was drafted by J. Sidd in reference to the acquisition of properties being sold by the City of Newburgh. The agreement emphasizes that the Land Bank should not be responsible for any surplus on the property, and the City should assume responsibility. It also highlights that the land bank was designed to facilitate the transfer of tax delinquent properties from the City over to the Land Bank at a minimal expense. J. Sidd gave some examples of what other Land Banks do with their local municipalities, counties and other foreclosing governmental units. The draft agreement will be submitted to the City’s Assistant Corporate Counsel for discussion and will be submitted to the City Council once all members of the Board are in full satisfaction with the terms of the agreement.
5) Property Sales
a. 302 Grand St (draft RFP) – The Board reviewed the Request for Purchase Application (RFP) and provided feedback. A. Church made a motion to release the RFP with a deadline date of Friday, August 14, 2026. C. Carter seconded the motion. All members approved with hand raises, none opposed.
6) Other property related issues
a. 10 Chambers update – The Board will follow up with Jason Morris, Acting City Manager, to determine the reason for the delay in signing off on the DEC work, preventing further development of the property.
III. Next Meeting: August 19, 2026 at 4pm