Regional development commission describes land bank work; county may face future ask when grants end

Greg Jones of the Southern Indiana Development Commission told the Daviess County Redevelopment Commission about SIDC's regional work and the Indian Uplands Regional Land Bank, and he warned that the land bank will exhaust grant funding in September and may seek county support.

Jones described SIDC projects across planning, infrastructure and brownfields work and highlighted the land bank as a regional tool to return blighted and delinquent properties to the tax roll. "For every dollar that the county puts into SIDC, they're getting a $113 back," Jones said, citing SIDC's regional return metrics. He said the land bank has researched about 4,000 properties in the six-county area, currently owns 14 properties with three under rehab and expects additional properties to transfer in 2027.

Jones said the land bank partners with local contractors for demolition, renovation, title work and related services, and he reported an expected increase in assessed value once redeveloped. He also flagged a legislative challenge: LLCs and venture-capital buyers are increasingly buying properties at commissioner tax sales as investment vehicles, creating a potential loophole the land bank and SIDC are trying to address.

Commissioners thanked SIDC and asked for county-specific return-on-investment figures; Jones offered to provide that detail following the presentation. The commission did not vote on any SIDC funding request at this meeting; Jones said a future ask is possible when current grant funding runs out in September.