Good morning.

Welcome to the May 15th, 2026 meeting of the Evansville Land Bank Corporation.

Seeing that we have quorum.

We'll begin with the approval of minutes that were provided on April 17th.

Does anyone have any questions, comments, concerns, or amendments to the minutes that were provided?

Hearing none, does somebody want to make a motion to approve?

I'll make the motion.

I'll second.

We have a motion and a second.

All in favor, aye.

Aye.

Any opposed?

Thank you.

All right.

Can we get a quick run through of the financials?

Anything unusual in there that you have any uh color to add?

Um, nothing unusual, but I will um can you guys mute your mics, please?

I think it's just some feedback.

Um, city grants income.

That's the April monthly installment from the city expenses include building maintenance management from building authority, um, accounting fees, that's the Kemper CPA final building of the 2025 audit and tax filing.

February legal fees, technology fees is the QuickBooks Online Annual Renewal.

The April inspector fee and cleanup at two properties are the independent contractor services, equipment leases, and purchases is the March printer lease and copier charges.

Um, the annual renewal of the excess liability policy you see there, and utilities include internet, cell phone, center point, and EWSU.

Um on the balance sheet comparison, you see no change in the fight blight or IMCU regular business checking account.

Um, that is actually gonna be a point of discussion here.

Um, we don't have a tab or a bullet point on our agenda for other financial, but I'm gonna add that in today because there's something that has come up and we need to discuss about the FDIC insured limits.

So just take note of those amounts there, and that's all I have to add for that.

All right, does anyone have any questions about the financials?

All in favor of accepting the financials.

Uh I'm sorry, I need a motion and a second.

I'll make a motion.

I'll second.

Thank you.

We have two motions and a second.

All in favor, aye.

Aye.

Any opposed?

All right, those are accepted.

Investments maturing at the end of this month, and then I guess we'll also need to discuss then following that uh moving funds around to stay under the FDIC insured limit.

So we have an investment in maturing on this month on the 27th in the past.

Um the board has voted for German American to reinvest the maturing investment at the highest rate possible for a term not to exceed one year.

Um does the board have any opposition to doing that?

Um, don't see any immediate need for these funds.

I'll make a motion that we have German American reinvest these amounts in the highest yielding possible way.

I'd CD not to exceed one year.

Is that your motion?

I have to exceed a year.

I'd second that.

With a motion and a second, all in favor of German American taking the sanction for us.

Aye.

Any opposed?

Okay.

Next we have additional news on uh moving funds to stay under the FDIC insured limit.

This was in your packet, that um they have confirmed that the cash in question is not considered public funds and is therefore not covered by the public deposit insurance fund.

So we do need to limit each bank account to two hundred and fifty thousand dollars.

Is that basically what we're talking about here?

So, and it's not just each bank account, it's a total in that bank, correct?

So I believe that we have four hundred and sixty thousand dollars in the Indiana members' credit union in one account, and then we have an additional two hundred and fifty-one thousand dollars in another account.

Is that correct?

Yes, that is correct.

Okay.

So, the action we would need to take is to move the fight, flight fight blight funds from Indiana members credit union to the German American money market.

Is that correct?

251,000 and change?

Yeah, so that's what um the DMD finance manager and myself came up with after discussion.

This is what we presented at the March meeting before it was said it could be potentially covered otherwise.

Alright, and then we're going to move 200,000 from Indiana members' credit union, which would take our balance there to 260, so why don't we.

Well, yeah, I guess sorry I didn't change that.

We can move however much we need to see these have increased in value.

So the motion then would be to move fight blight funds from IMCU to German American money market to level the account at 250,000 at IMCU, and pull the amount needed to reduce the IMCU.

This is still inaccurate because I believe that those funds are limited on the number of, it's a total amount at one entity, not the amount, isn't that correct?

But the amount that we pull from the business checking would be invested at different.

Correct.

Right.

I know that they'll invest it there differently, but then if we do this, there would still be $500,000 at Indiana members' credit union.

What type of council are they?

Because you can have coverage on two different types of accounts if there's a savings account and a checking account.

There wouldn't still be that much at Indiana members, right?

Well, there would be the fight blight would be 250 and then the Indiana members credit union, the regular 460 would be 250.

I'm saying move fight blight completely away from Indiana members to German Americans.

Okay, okay.

So we have 711,000 dollars roughly.

Yeah, Indiana members credit.

Okay, perfect.

So let's correct that.

That we're gonna move fight blight in its entirety to the money market, which then will be.

We're gonna have to make if we don't spend all that this year, which we probably won't, we're gonna have to make moves on.

I guess if we can move that or invest it, I'm not sure how to invest it.

And then we're gonna pull 200,000, actually more than 200,000 from the other um business checking account.

To get it to 250, to make it to 250 and invest that in the um laddered approach at German American.

German American.

Yes.

So then I think we'll still be a little tiny bit over on a couple of things.

So if we put that into a German American market rate, that's not laddered.

So that would be slightly over, but not anything dramatically over, or we could frankly just pull 200,000 from Indiana Members Credit Union from the fight blight account and put that into a market rate account, and then we don't have to worry.

Correct.

Then we would be so our audit would be clean and we would be within.

And then we could pull even more from the business checking at Indiana members.

Correct.

So we're gonna leave the business checking at 250,000, which we'll spend some next month.

Hopefully.

Yeah, I think demo is happening today, by the way.

Perfect.

All right.

So was somebody prepared to make that motion and you were all comfortable with that action?

No.

Alright.

So there's gonna be a motion, it would say, and somebody following me could just say so moved.

We're looking for a motion that would direct Jessica to A, move fight blight funds in their entirety to a, excuse me.

A move two hundred thousand dollars in fight blight funds from IMCU to German American money market account.

Bull all assets in excess of 250,000 from the Indiana members credit union business checking account and add to our laddered CDs managed by German American Wealth Management.

So moved.

Thank you.

We have a motion and a second.

Did everyone understand my motion?

Yes.

Yep.

All in favor?

Aye.

Aye.

Any opposed?

Great.

That is financial old business.

We're looking for an update on the 500 block of Bayard Drive.

I think Ryan is on the call today.

And Ryan, is there someone else, Peter, with you?

Peter Boards.

Oh my gosh.

Again, good morning, Ryan and Peter boards.

Welcome to the Evansville Land Bank meeting.

Your agenda item has come up.

We are looking for a report on the 500 block of Bear Park Drive properties that are required in the land bank.

Good morning.

Good morning.

Happy Friday, everyone.

It is.

Ryan, you're on mute.

That's okay, it's usually me.

So are you able to unmute all Jessica?

Oh.

Peter, are you able while Ryan's working on that to give us an update?

Yeah, sure.

Absolutely.

We're just trying to figure out what he's saying.

But Ryan, if you look on the lower left, you'll see a mute button.

You don't click the down arrow, just click unmute, and it should unmute you.

So we all think it's interesting.

So we have six parcels in the 500 block of Bear Drive that are um concerning to us in terms of a not meeting the development agreement that was agreed upon in January of last year and signed and recorded in uh I think that was March of last year, May, the 10th of May.

Yes.

In addition to that, these parcels also are, let me finish.

These pars parcels are also tax delinquent and have uh weed and trash lings.

So we have that's another concern of ours.

So we've got two issues that we need to hear how these are going to be resolved.

The first and and most immediate is the need to get these taxes current and these liens current.

Second is what is the plan for completing the development of these parcels which go back to 2019, 2021, and 2022.

So Ryan, Ryan works on the construction day-to-day side of it.

I'm on the finance, I'm on the finance backing side of it, and we have been already starting to clean up uh to clean that up.

We were um using we had external financing resources move, you know, all per our um uh kind of roller coaster economy right now, been slow.

So uh my fund, which is trajectory ventures, we're gonna just personally finance it.

Um we've started to flow funds in uh on the develop on the development side, this the you know, after completing the the the first home, the second home we ran at uh let Ryan update you had run into uh all all sorts of development issues, not for say from the way that the house was, but from uh getting approval perspective, which we've finally been able to resolve dealing with multiple contractors, and we have every intention to start the rest of the block up immediately.

Um the Baird Park development is extremely important to us because it really is kind of a showcase of TrueVest's commitment, you know, not only to Abansville, but to you know building affordable, not affordable housing, but afford affordable homes.

So um we have every intention of having that engine flying and you know in the next couple of weeks, um, and all those uh whatever open issues that are left will be are in the process of being closed out now.

We're really grateful for um you know our partnership with the city and the and the patience, you know, and apologize for the delays, but it's been quite a bit of Edwin's on house on house number two.

Okay.

So um Ryan, are you able to get in?

Because it's more important that you give uh the development update.

He might be alright.

Does that work?

Yes, there you go.

Yeah, it's here.

Yeah.

Oh, I'm sorry about that, guys.

So on house two, uh, I don't Peter gave you a little bit of background.

So house two, we were under contract shortly in the middle of March, uh part of March, where we were selling that property, the buyer is.

What's the street number for house two, please?

512 Bayer Park.

Okay, thank you.

Yeah.

Um 512 is not one of our part.

No, it's not.

That's affordable housing trust fund.

Okay, so all right, so going back to our parcels that we're concerned with, which is 504, 505, 511, 502, 506, and 508.

Those are those are our parcels.

Okay.

That we currently are not seeing development on, though, you know, I'm hearing that you're you'll be starting in a matter of weeks, is what I was just told.

And we were we're also concerned about the delinquent taxes and the liens on those parcels.

So 512 is the affordable house uh affordable housing trust fund, which has a mortgage on that, and and that's between you and DMD, um, and and the affordable housing trust fund board, which is a separate body.

Us, we're concerned about the parcels that I just mentioned.

So, I mean, I can run through these number by number, and you can let me know what the plan is for each.

Um, so beginning with 504 Bayard Park, there are weed liens and delinquent taxes for a total of 1,057.14 cents.

505, there are delinquent taxes 225.44, 511, delinquent taxes, 225.

505 is 225.

So both of those are the same.

502, we have weed and trash liens and delinquent lien uh taxes for 1191.44, and then on 506 and 508, they are both delinquent for 225.

So one of the um one of the things that we want to do with the land bank is when we we need to return these parcels to productive uses that benefit the neighborhood and and benefit the revenue of the city.

And so when we have delinquent taxes on these parcels, then it's like we're we're not seeing the development or we haven't seen it yet.

And I know that it's a tricky time to build and sell things, and we're not seeing the taxes paid and current, and we're not seeing the lots maintained in such a way that they're not getting new or newer, newish liens on them for weed and track and trash.

So going back to those parcels, from what I heard earlier, and I just want a confirmation.

You have a plan to begin construction on.

Do you have a plan to consider begin construction on any of these other lots?

Are we only talking about 512?

No, 512 is already built.

So I wanted that's what asked.

I was I wanted to explain what led up to this.

So is that okay if I do that?

Well, there are parcels that are not a concern of this board body, so okay.

So and the parcels that have been sold to other developers or end users are not a concern right now.

We're really focused on the parcels that that True Vest owns, that have not been developed and are tax delinquent.

That's our concern.

Yes, so in the next couple of weeks, we'll be completing the house that's been the never ending gobstopper delays due to all sorts of um reasons not in our control.

Uh we have every intention of then starting into another another lot.

You know, we replace the fine the financing being done, you know, directly in-house, like I said, versus my my venture arm trajectory capital and trajectory ventures, and we have every in intention of beginning the next product and uh the next project.

Uh we will have the all of that cleaned up ASAP within the next couple of weeks with the city.

Okay.

So we have another meeting.

When is our June meeting scheduled?

June.

In June.

Somebody just say that.

I think it's a week early.

Actually, maybe June 12th, because of the next Friday that we usually have it on is June 19th, which is all day off.

So we're having it the week before.

So 612.

So by 612, could we expect that the delinquent taxes and the and these liens would be cleaned up?

Yes.

Perfect.

So that um, and then on when is the date of the July meeting?

Thursday.

It'd be the 17th.

So can you make yourselves available to meet with us on July 17th to give us an update on the beginning of these other homes?

Yes, and we're happy to we're happy to send you updates as they happen as well.

Communicate with Jessica on that, and Jessica can provide us an update on that.

Uh, are there any members of the board that have any other concerns for True Vest?

All right.

We look forward to uh seeing these cleaned up and we look forward to a discussion in uh July.

Thanks, guys.

We do as well, and we're we're very very grateful for our collaboration with you and and uh we're gonna get that neighborhood up and running and beautiful.

We love that.

Thank you.

Have a good day, guys.

Thank you.

Next up, we're talking about 1513 West Missouri Street.

I believe we have the current property owner here.

Is that correct?

Do you want to come up to the microphone?

And I identify yourself with your name and and one to none, King.

Okay.

Honor 1513 West Missouri Street.

Perfect.

Mr.

King, we're happy you're here today.

So thank you for all the information you've provided.

I do believe that there's still two things that are outstanding.

Is that correct?

Two liens that are we need to get a release on.

Um any of the liens except for that you gave me the payoff letter for the state tax lien, but any of the other liens, I know that they're not owed by you.

Um, the super lien.

Uh that's the one that comes to mind in the emails that was discussed.

If you could provide the payoff or the release for that, you don't owe anything.

They should be able to release it because of the tax sale.

Okay.

If you could provide me with that release.

Okay.

There's additionally a trash lien.

And in the trash line.

Where does he get that?

Where would that where would you find that?

I don't know.

I don't know what I'll do.

We will find out what you need to do, and we will let you know what office you need to go to to get those to get the releases.

Okay.

So Jessica, can you find out who that would be helpful to?

And then following that, I mean, we have every intention to, um, if these can be provided to us to accept the parcel and then move forward with um uh a sale uh to habitat.

Uh who is gonna shake his head yes or no?

Yeah.

So yeah, that is definitely our intention to to move forward in that manner, but we do need those releases so that we are not burdening the next property owner with them.

Understandable.

Yeah, I'll get those to you.

All right, perfect.

We appreciate that.

Thank you.

Is there any action?

Do we need any action on this?

I mean, what was tabled before?

Is there any action?

Enabling it, or are we making action?

What do we could accept?

Do we want to take an a motion on contingency?

On contingent to so we would accept a motion then, uh, if someone would like to make it to accept the donation of the property at 1513 West Missouri Street, subject to a release of lien provided um by the Evans of Water and Sewer Utility for 2698.

And I believe the trash lien would come from the coded from code enforcement, yes.

Yes, and uh release from code enforcement for a trash lien in the amount of 40350.

Should we add that we need a updated um oh yes?

Title report uh prior to closing.

You were gonna run an SMR, is that correct?

Or we were gonna think we just need to do it as a bar short order report, or updating that make sure nothing's all right.

We're getting to a more complex motion.

So, and then don't forget that it needs to be torn down by torn down by building bar.

Fight building before we take it, yeah.

Uh, we could also table this till next month.

That'd be what I'd do.

All right.

If we table this till next month, then still please, Mr.

King, work on getting those two releases, and we'll get you that information.

We'll get it done.

Someone'd like to make a motion to it's already tabled.

We have no action required.

So that's fine.

Was it tabled?

Just to be clear.

Because I thought it was denied the first time.

It was denied.

Okay, perfect.

We need a motion to table.

I'll make a motion to table this until next meeting.

All right.

We have a motion and a second.

All in favor, aye.

Any opposed?

Thank you.

Does that seem like a path forward?

You that are we perfect?

Okay.

All right.

Um we have a status report from Habitat for Humanity.

Morning everyone.

Um thank you for your time this morning.

I want to apologize.

I know I was supposed to speak at the last meeting and ended up uh staff members uh family member passed away, and the the funeral was at that very quick.

So I apologize, but um, so um quick update on kind of where we are.

Um, I think last time I spoke with you guys, we talked about our strategic plan where you know, in five years we're gonna we're we're wanting to get to 40 homes a year.

Um this is really we're into year two, our fiscal year ends in June, and so we're on track to build our 25 homes.

Um, and then we're started.

We've got several of the homes that will be finished our 30 the next the following fiscal year.

So um right now we're building um in the chain neighborhood, um, which is phase one.

We're doing about 17 total.

15 of those are completed, 15 of the 17, and then seven of those um lots were were land bank lots that that you guys had sold to us.

So, and then two of the remaining homes that are there uh will be done in June by the end of our fiscal year.

Um we're also building in the Glenwood neighborhood down south, and um, those are um uh partially funded by an AHP uh grant that is uh through the federal home loan bank.

Um so that's sort of why we had to we had to move down there because we identified those lots for that.

But seven of those are of the 10 down in Glenwood, are started, five of those that we've received from the land bank.

Um, so we should be finishing up the in that Glenwood neighborhood in August or September.

Um, and then also we have we we're then we will move back to the chain neighborhood, chain kind of slash star neighborhood.

Um ten of these lots that we're moving to will be we're asking and dealing with the um AHP again.

Um so we're hoping to get those um approved.

We will build regardless, but that will just sort of be icing on the cake if we can get that funding for those.

So we've got about 36 properties between the chain, our phase two and the star neighborhood.

Uh 15 are in chain and 21 are in star or kind of right there in no man's land, right on Fulton.

Um so right now, as we speak, we're beginning pre-construction work there, property prep, um surveys, uh getting water services in, doing a little uh sewer work as far as seeing what's available and what we've got to do, um construction.

Construction will probably begin, you know, as far as breaking ground goes uh by mid-summer.

Um, and then we sort of have to wait on those 10 that we're we're holding back for AHP.

I could do some pre-construction but I can't go vertical until we get approved and that that'll we'll know that in November but we're we're dealing with a um a really good company that that you know especially it being our second one we're pretty positive that we'll get approved for all that and we get points on that for land bank lots because technically they're donated so we appreciate you guys' help on that for sure so any questions on what we're doing and the modular work that you're doing.

Yeah so yeah we continue all of these homes that we will build and that we we have built here here we have built in our volunteer center at Maxwell Avenue that's that's going really really well we're actually several homes ahead with that things are things are going good.

That's that's we are we are knocking um about three days off of our framing time and we've our our whole construction time has gone down by about three weeks four weeks averaging which is great.

Yeah great volunteer experience and then it that is also saving us about um forty five hundred dollars a build which is huge so yeah just in savings yeah yeah savings and material because it's we're you know we we have more um control over it coming in and what gets used and doesn't get used um also when it sits in on on some of these lots it grows legs and goes elsewhere and then also illegal dumping we're not having those dumpsters construction dumpsters on site quite as long because we're doing a lot of that work off site which is nice.

So great thank you.

And anybody have any questions?

You have a question on timelines for new lots that we're yeah for the parcels that we've already transferred.

Yeah so so the those are kind of the lots that I said the so the the ones that we have transferred the ones kind of up there in star and chain those are the ones that I'm doing pre-construction on now and we will we will begin to start in the summer.

And then there's two down in Glenwood that I asked for but you know both of those are under construction now and then you know so so we're kind of doing we're doing them in phases and then right there in that chain neighborhood there were um seven land bank lots that that you guys and some of those go back even to to Carolyn but they that's Florence Yulehorn sixth you know the kind of main and concentration there and and yeah all of those will be completed by June.

So outside of neighborhoods that you've mentioned I know previous updates you guys have a timeline as far as we work this many years in advance as far as acquiring lots and then they're spent in that time what is can you provide an update on your forecasting of what lots you have and what lots you need to get based off of timelines.

Right so um we are um you know after we kind of get wrapped up in in chain and in star we'll we'll we'll more than likely move into Jacobsville.

I always like to build when you know in concentration when I have about 12 to 15 lots so um we'll go on to that and actually one thing that I've got on my list to mention to to everyone here just so you know um late last year we got donated about 38 acres of land on West Mill Road.

It's not in the city but um it it kind of came in late in the year we'd sort of been talking about it for a while but so that kind of came to fruition we're several years out on developing that but we you know we will continue to work on that and develop that but we're also committed to building in these inner city neighborhoods and Jacobsville TP Park Star you know all where we're building we're gonna do both simultaneously so that shouldn't affect our timeline as far as these other lots like moving to Jacobsville, especially because we probably won't start construction there for about another five years.

But you know, when we are on par right now for for where we are, kind of four year timeline.

When you think we're doing 25 a year, then we're doing 30 a year, you know, so that that the the 30 between star and you know, we've got 36, so that'll be all next year, and then Jacobsville will be the following year.

I probably have about 25 that are available right now, and then always have my eye out obviously with Jessica and with with private donors.

So, all right, thank you so much.

Um we have a tabled application from last month.

Patrick, thank you.

For 413 North Fourth.

Uh this was a person across the street.

Um, I don't think any action is needed because it is continues to stay tabled, correct?

No, I mean, or do we need to deny it?

Yes.

Okay.

So why don't we put this together with the new application for 413 North Fourth?

Do I have permission to go out of order?

Someone make a motion.

So the motion and second, all in favor.

My aye.

There we go.

So 413 North Fourth.

We had an application from the um from someone across the alley at 1020 West Virginia to use it as a garden.

At our previous meeting, we did table that we would need a motion to deny that.

We do have a new application from the neighbor of 413 North Forth.

That resident lives at 409 North Forth, and her taxes are current, her property is in excellent condition, and the original applicant from West Virginia Street is um amenable to the situation of the immediate neighbor acquiring the parcel.

Did I get that correct, Jessica?

Great.

So we need two motions, or you can put it together in one motion.

I don't really care.

Yes.

We also have a tree.

So we actually I'm trying to get this done because I'm gonna get a parking ticket.

We can't get you can't get them in one motion to action on it until we got it.

Correct.

That is correct.

So we just need a motion to um deny the application of 413 North Fourth by the resident at 1020 West Virginia Street.

Okay, I'll make a motion to deny the uh applicant for 413 North Fourth from the resident of 1020 West Virginia Street.

I'll take it.

All in favor, aye, aye.

Any opposed?

I'll make a motion that we table 413 North Fourth application to the adjoining neighbor of four that lives at 409 while Jessica gets bids for removing the tree but not the stump.

I'd second that.

So we have a motion uh to for the for tabling the application and in the same motion for Jessica to seek bids for your removal of the tree, all in not removal, cutting of the tree and removal of the wood, not the stump all in favor, aye, aye, any opposed?

Great.

All right, next up.

We have expiring uh product uh property listings.

They expire at the end of this month.

I'll make a motion that we extend these if the realtors would like to do that for another six months.

We have a motion and a second.

Any further discussion?

Hearing none, all in favor, aye.

Aye, any opposed?

Great, thank you.

Next up, we have an application from Habitat for Humanity to purchase 1308 Gabbett Street and 2018/2020 North Fifth Street.

Um, this would produce a combined buildable lot size of 50 by 133 feet.

I'll make a motion that we uh accept a sale to habitat of 1318 Gavit Street and 2018 2020 North Fifth at a price of $500 dollars, which is our policy per buildable lot.

It's second that.

Motion and a second any further discussion.

All in favor say aye.

Aye.

Aye.

Any opposed?

All right, do any members of the audience have anything to discuss?

Any members of the body?

We are adjo