Evansville Land Bank approves transfer to Advantix, denies two-parcel sale and accepts June financials

The Evansville Land Bank Corporation on July 18 approved an agreement to transfer multiple parcels to Advantix for use in a Low-Income Housing Tax Credit project, denied an application to buy two parcels on West Maryland Avenue, and accepted the board minutes and June financial statements.

The board approved an "agreement for sale of real estate" that transfers the subject properties to Advantix as a donation, contingent on legal review and revisions and with authority delegated to staff to execute the final document. Board member Dirk summarized the motion as: "It would be a motion to approve, the agreement for sale of real estate, which transfers the subject properties to Advantix as a donation per the prior board approval, subject to legal review and revision, and to delegate to Jessica authority to execute the agreement once that's complete." Dirk also clarified the form of the document: "This is called an agreement for sale of real estate, even though there is no purchase price," and asked that the record reflect that the board was not proposing anything beyond earlier approval.

The board was told counsel for Advantix had agreed to required changes on indemnity and insurance before the agreement is executed. Board members flagged the project's timeline as urgent for the Low-Income Housing Tax Credit application; the board voted to approve the motion and to delegate signing authority to Jessica once legal edits are complete.

The land bank also denied an application to purchase two adjacent parcels, 911 and 913 West Maryland. Staff reported the application, received June 24, 2025, proposed to use the parcels as a side yard for an existing residence at 909 West Maryland. The combined lot size was described as "43 foot by 140." The staff summary said the price would be $250 per parcel if the buyer resides at 909 West Maryland, and $500 per parcel otherwise. After a motion and second to deny the application, the board voted to reject it.

The board approved the minutes as presented and accepted the June financial statements. Jessica, who presented the financials, said, "Nothing unusual, but I will go through the expenses and the profit and loss comparison." She noted recurring monthly installments from Evansville City for May and June and said the ledger included a $500 sale of 1517 Florence Street to Waller Investments. Jessica also identified April 2025 legal fees under contractual services, June inspector fees and cleanup at three properties under independent contractor services, equipment lease charges for May, and rounds 3–5 of the 2025 mowing season under lawn care and debris removal. The board voted to accept the financials after a motion and second.

In other business, staff provided an update on 619 East Chandler, a parcel the personal representative of an estate has proposed to donate to the land bank. Staff said the board has not yet received a completed title commitment; a working commitment was reviewed but "there are still some things that, potentially need to be cleaned up," and staff said they were continuing to work with the estate.

The meeting concluded with a brief welcome to new member Bryce and adjournment.

Votes at a glance: the board approved acceptance of the minutes; approved acceptance of the June financial statements; approved the Advantix agreement for sale (subject to legal revision and delegation of execution to staff); and voted to deny the application for 911 and 913 West Maryland.