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Evansville approves $97,500 purchase from Drury Development for Crosspoint‑Indiana roundabout parcel
Summary
The Board of Public Works approved purchase of Parcel 3 from Drury Development Corporation for $97,500 as part of the Crosspoint Boulevard/Indiana Street roundabout project. Staff said the price exceeds appraisal but is cheaper than the cost of condemnation and will remove a property obstacle to the roundabout.
The City of Evansville Board of Public Works on June 12 approved a negotiated purchase from Drury Development Corporation for a parcel needed for the Crosspoint Boulevard and Indiana Street roundabout project. The approved contract amount was $97,500.
City staff told the board the appraisal for Parcel 3 was about $82,000 and that Drury's original counteroffer had been above $100,000. "It's more than the appraisal but I think it's less than the total cost that it would take to take it through condemnation at this point," a city staff member said in recommending approval.
Staff noted several site issues that affected valuation, including location of a sprinkler system within the existing right of way, impact on parking spaces and general customer access, and placement of a trash/recycling bin. The board discussed roundabouts in general; staff said roundabouts change the types of collisions (reducing high‑speed T‑bone crashes) and are considered as an option when intersections are redeveloped.
The board approved the purchase by voice vote. The transcript records discussion about funding limitations for new roundabout projects and that the city will consider roundabouts as projects come up rather than funding a large new program.
Details not specified in the meeting transcript include the contract number and any closing timeline.
