All right.

Let's call the Evansville Land Bank Corporation June meeting.

It's Friday, June 12th.

It's 9:30 AM.

Welcome everybody.

In your package, you have a copy of the meeting minutes from May 15th, 2026.

Everybody had a chance to take a look at them and see if there's any changes.

I'll make a motion to accept.

Same.

Any discussion?

All in favor?

Okay.

Any opposed?

Same sign.

Okay.

Jessica, we've got the financial statements to be walked through.

You don't mind?

Yes.

Let's start with the profit and loss comparison of May 2026.

There's no income to report, but it will say that the May contribution from the city was deposited June 3rd.

So you'll see that on next month's report.

Expenses include Evansville Vanderburgh County Building Authority Building Building Maintenance Management at 401 North Main.

So the April expenses, the quarterly billing of Alpha Energy, and some mounts electric work on the parking lot lights and canister lights along the building.

It actually looks really, really nice now.

It's lit up in the evenings.

It's a huge difference.

Under demolition expenses, you see the 7,553 payment to stimulate excavating for the demolition of 1617 West Florida Street.

Independent Contractor Services, that's the May 2026 land bank inspector fee.

Down on to equipment leases and purchases, that's the April 2026 printer lease and copier charges.

Lawn care and debris removal.

We're now into our maintenance season.

The 12,000 you see there is the first three rounds of 2026 lawn maintenance.

There was a liability insurance renewal.

Property maintenance miscellaneous charge was the publishing fee for the legal ad of the notice to bidders for the 2026 lawn maintenance and debris removal.

Notice we put out utilities include April water, April and May Center Point, March and April cell phone charges, and the May internet at 401 North Main, and then workers' comp insurance that's annual renewal there.

And that's all I have to report on that.

You turn it over to the balance sheet comparison.

Not a lot of changes here, but I will say DMD finance manager Brian Pace and I did meet with German American Wealth Management to discuss moving the funds as the board approved at the last meeting to meet the FDIC insured limits.

We're working on opening the count at German American Wealth Management now for the pipeline funds and getting funds moved from Indiana members over to German American.

It's in progress.

Anyone have any questions?

Is the 12,000 going to be expected to be each month during this?

It's 4,000 every two weeks.

They mow every two weeks and 4,000 is the with the current amount of properties we have.

What is the fee?

Yes.

Okay, so it just hit that we have three 4,000 in the same month.

Correct.

So it's typically eight on average.

Okay.

Any other questions?

I'll make a motion to accept financials.

Any discussion?

All in favor?

Any opposed?

Great motion carries.

Uh, any is there any other financial information to discuss?

There is actually.

I would like um to see if the board would consider approving um laddering in two-year term investments through German American Wealth Management.

Usually our motion when we renew or buy a CD after one has matured is for a term not to exceed one year.

But with the fact that we're going to be buying more CDs, to try to meet our two hundred and fifty thousand dollar FDIC insured limits.

Um, you get better rates at two years right now.

Uh let's see, the bank did supply yesterday what the current rates are.

So a 12-month is at 4%, 18 months 4.05%, and a 24 month is 4.1%.

So we'll still have funds accessible.

Um, how much are you thinking of in the latter amount?

Um, not roughly over 250.

I think.

Do you remember what we discussed?

I didn't break it down.

I just want to say that over the I think it wouldn't be over a hundred thousand per CD.

If that answers that question for you, uh up to like under 300,000, so you'd still have plenty of operating income.

Oh yes.

Yeah.

Okay.

I don't have a problem.

So if discussion.

Fed rates actually get increased, like right today.

They're saying might happen.

Would this come back to buy this locking in at two years as opposed to the one?

And waiting on those.

Yeah, I mean, we're what it's not gonna happen today.

Which is something to consider.

Probably consider waiting.

Okay.

Uh on making that because there is a lot of thought that's going towards an increasing rate market right now.

There's a I would say a 30 day to 45 day window on that if that's possible because there's a lot going down.

I don't know when the next Fed meeting is.

Um right now it's um working on a weekend count.

Oh, okay.

Yeah.

I can bring this back.

Yeah, we'll just table it till the next meeting.

Okay, good.

Sounds like Jessica.

Oh, in under old business, uh, the 500 block of Bayard Park Drive.

Uh they were to pay taxes.

I think was the only update we needed for this meeting.

Yes, at the May meeting, um, Ryan Dement and Peter Boards with Drew Vest LLC virtually attended and agreed that the delinquent taxes and weep trash and weed liens on 504, 505, 511, 502, 506, and 508 Bayard Park Drive would be paid by the June 12th meeting, and that has not happened according to the auditor's website, as well as by a call I made to the treasurer's office two days ago.

So as of two days ago, those have not been paid.

Um they Ryan and Peter agreed that they would attend virtually the July meeting, so I suppose we can ask them about that, and I am willing to reach out to them via email and request that they pay the taxes.

Any other suggestions?

Anyone?

What is the grab back look like?

Is there a grab back?

I am escrow deeds were not executed on the two older development agreements from 2019 and 2021.

There are escrow deeds for 502, 506, and 508 Bayard Park.

Um but those also have debt on them in within our city structure that we need to navigate with that appropriate authority so we don't hamstring them.

Yep, 100%.

I think it makes sense to wait until the July meeting and see where they are and um then we can coordinate a plan from there.

Um is that debt against the properties themselves?

Um the delinquent taxes and liens.

You guys loaned them money or something.

Don't they have some kind of affordable housing?

Yeah, yeah.

So is that tied to the property or is that uh personal mortgage with those affordable housing loans?

I think it's different properties, but it's um affordable housing.

It's five to twelve, and I think five fourteen, but five fourteen's got sold since we have mortgages on those two companies, and those are the actual ones that have homes built on them.

It's still on our insurance.

That's two of ours that we have.

Okay.

Okay, thanks for the update.

Uh, we have a potential donation of 1513 West Missouri Street.

Um 1513 West Missouri Street, the potential donation of that property was tabled at May's meeting, with the board stating that if releases of the trash and sewer liens could be provided, the board had every intention to accept the parcel and move forward with the sale of the parcel to habitat.

The potential donor has supplied the recorded release of the trash lien and they have paid the sewer lien and provided a receipt for that.

And I've confirmed with water and sewer that that lien was paid.

The release is just not recorded yet.

We should expect that soon.

It was also discussed at the last meeting that the board would wait until fight blight completes the demolition of the structure before land bank takes title.

I'll make a motion that we accept the property uh pending a clean short mortgage report or updated title search from the one that was received on uh 1626 uh property the structure demolition by the blood funds and then the owner still pays his taxes while it's in his possession.

Second.

Any discussion?

All in favor?

Okay.

Any opposed?

Okay, motion carries.

All right, Jessica, tree removal contractor selection for 413 North Fourth Avenue.

So there is a mulberry tree at 413 North Fourth Avenue that an adjacent neighbor had raised concern over.

I had the City Arborist inspect it, and he determined it was a multi-trunk mulberry tree and it appeared to be dying back at the top and has a significant lien.

He recommended removing it.

I uh at the board's direction went out and got three quotes from tree removal contractors.

They were received on June 1st and June 2nd from DJ's Tree Service at a total cost of 2,950 Randy's tree service for a total cost of $2,200 and from American Eagle Tree Service at a cost of $2,400.

Would the board like to select a contractor to do the tree removal with the stump to remain?

I'd make a motion to accept Randy Street service.

I'll second.

Any discussion?

All in favor?

Any opposed?

Motion carries.

Okay, we have a tabled application for the same property for 413 North Fourth that we had received.

And um, oh go ahead.

Um, this application was tabled at the May meeting while I saw a bid for the tree removal.

The application was received April 22nd from the adjacent neighbor at 409 North Fourth Street for use as a garden slash side yard.

Um lot sizes 25 by 113 applicants' taxes are current and the property is in excellent condition, and the purchase price would be 250 dollars.

Would the board like to approve this contingent on the tree being removed?

Yes, anybody want to make that motion?

I'll make that motion.

Second.

Any discussion?

So the to clarify the motion is that we'll accept this.

Uh we'll we will sell this for 250 dollars pending the recently approved uh tree removal.

All in favor, any opposed?

Okay, motion carries.

Great.

Um we have any other old business?

There is a other old business.

I would just like to report that both realtors provided and executed six-month extensions in the property listing agreements as approved at last month's meeting.

Great.

Any other old business from anyone?

Okay, new business.

Uh potential sale of property.

We have actually two applications for 1617 West Florida Street.

One appears to be a side yard, and one is a habitat application.

Any details?

The first application to purchase 1617 West Florida Street was received from the owner-occupied adjacent neighbor at 1613 West Florida Street back in September of 2025 for use as a side yard.

Um, applicant currently has delinquent taxes, and purchase price would be 250.

It's staff recommendation that we do not sell this property as a side yard to this applicant.

Okay.

We have to do these separately.

Okay.

Would anyone want to make a motion along those lines or any motion to deny?

I'll make a motion.

I'll make a motion to we'll go ahead.

I'll make a motion to deny.

Second.

All right.

Any discussion on that?

So based on the fact that it has delinquent taxes and uh in need of repairs, we've denied that.

So in all in favor, any opposed?

Okay, motion carries.

The second application for uh 1617 West Florida Street is from Habitat.

And isn't this the one they had intended to take in the past?

Yes, this was actually acquired with the intention to sell to Habitat.

This application was received June 1st.

The end use would be affordable housing with construction to start in November 2026.

Purchase price would be $500.

I'll make a motion that we give it to sell this property to habitat.

I'll second.

Okay, any discussions on this one?

Alright, all those in favor?

Okay.

Any opposed?

That motion carries as well.

Okay.

Um any new business?

No new business.

Any uh business or comments from the crowd?

Thank you all for coming.

All right.

Well, meeting is adjo