The Evansville Land Bank Corporation met on Friday, August 21, 2026, at 9:30 am in Room 301 of the Civic Center Complex. The board approved minutes and financial reports, discussed property sales and acquisitions, and authorized up to $100,000 for tax sale purchases. A major proposal for developing multiple parcels in the Jacobsville neighborhood was tabled for further design details.
Good morning. Welcome to the Evansville Land Bank Corporation meeting on uh Friday, August 21st. Uh we are in session uh with a quorum. Uh first up is the approval of minutes. These were provided to you via email uh for our July 17th meeting. Does anyone have any comments, concerns, corrections? I'll make a motion to accept the minutes as written. I'll second. With the motion and a second, any further discussion. All in favor, aye. Aye. Any opposed? All right. Then Jessica, talk us quickly through the financial information on our financial statements, and you might as well roll into the investment maturing. The July 2026 profit and loss comparison shows expenses of bank fees. Um $60, that's two transfer fees for when we moved funds to meet FDIC insured limits. Building maintenance, that's the Evansville Vanderburg County Building Authority, May and Jaloon. May and June 2026 expenses. Legal fees include the May and June legal fees, independent contractor services of $2,700, that's the land bank inspector's July payment, down to equipment leases and purchases, the monthly monthly printer lease and copy your charges. Lawn care and debris removal looks higher this month than usual. It includes rounds 567 and 8 of mowing for 15,888. It also includes the tree removal at 614 Washington, that was 7,160, and the tree removal at 605 Monroe, which was 2,495. So that's why that is higher than norm. Payroll, we I'm not sure that's the correct like subaccount to put on that under, but that was the land bank intern, and that was a payment to action staffing for seven weeks worth of interning. Utilities include uh May and June cell phone bill, June Center Point, July internet, and I believe July water and sewer. Then on to the next page, the balance sheet comparison. Finally reflects um the amounts being moved to meet FDIC insured limits. Uh in our bank accounts at Indiana Members Credit Union. You can see the fight blight account has a little over 50,000 in it. The regular land bank checking has uh 142,000 for a total of 195. Um other current assets include uh the fight blight funds that we moved to the German American investment maturity account, investment management account. That was 200,000. It's sitting in a money market currently with the ability to invest as we need to to meet insured limits. Um the other German American investment management account has 785,000 in it, and those are all laddered investments at different banks across the country, so they all are meeting insured limits. On the next item is the investment maturing today at that account just mentioned. It's the 100,000. Oh, I thought it was 200. It's a hundred thousand dollar Casey uh for the regular land banking funds. Um if if we want to reinvest that currently, we can if we want to hold off until like after this year's tax acquisitions, we could do that as well. I believe no action is required on German American. We'll move that directly into a market rate account for us and still be within our insured limits. Does anyone have any questions on the financial information and the investment maturing that was presented? Someone like to make a motion to accept those? I'll make a motion. Thank you. Second. We have a motion and and a second. Any further discussion? All in favor, aye. Aye.