VANDERBURGH COUNTY

REZONING BOARD

OCTOBER 25, 2005

The Vanderburgh County Rezoning Board met in session this 25^th day of October, 2005 at 4:10 p.m. in room 301 of the Civic Center Complex with President Cheryl Musgrave presiding.

President Musgrave: Call to order the Vanderburgh County rezoning meeting for October 25^th. We have, is Krista Lockyear ready? We have one item on the agenda, SC Bodner Company, Incorporated.

Krista Lockyear: Good afternoon.

President Musgrave: If I could ask you to hold for just a minute.

Krista Lockyear: Absolutely.

President Musgrave: We have two first readings, Level Development LLC and Harry Goben. If there would be a motion to have those first readings.

Commissioner Nix: So moved.

President Musgrave: Second. All those in favor?

All Commissioners: Aye.

President Musgrave: Now we move to the final reading for SC Bodner Company, Incorporated.

Commissioner Nix: Sorry about that.

Krista Lockyear: That’s quite alright. Good afternoon. For the record, my name is Krista Lockyear. I’m here on behalf of SC Bodner Company, Incorporated, the petitioner who is a contract purchaser for this parcel of property asking for your approval to rezone this property to residential for a condominium development. I have a handout that I will bring to each of you, and one for the record, that has some details on the site plan, as well as the floor plans of these units.

President Musgrave: Thank you.

Krista Lockyear: As you can see from the drawing on the front, these are townhouse condominiums that are planned. This is a wonderful ownership housing opportunity for Evansville. Condominiums, I believe, have been running a little behind in this community, and clearly the developers have been coming forth fairly recently wanting to put the condominiums up. With the interest rates as they are, they provide an ownership alternative to young professionals, especially, as well as those that are trying to downsize and not have quite so much maintenance in the yard, etcetera. This particular location for these condominiums is ideal. It sets in between some other apartments, so, it’s adjacent to property that’s already been rezoned for multi-family residential. It is very close, obviously, to a lot of the commercial and retail that Evansville has to offer. So, it will be a wonderful location for individuals to locate. If you notice from your package, the record from the Area Plan Commission, we did acknowledge, as John Stoll had requested, that we will both dedicate the right-of-way for the development of Columbia Street when it is ready to be built, as well as pay for the portion of Columbia that sits, that will sit on the right-of-way that we have dedicated. I believe that satisfied John and the Plan Commission requirement for our infrastructure commitment. You should also have a copy in the package of the private covenant that is of record committing that infrastructure requirement, as well as the agreement that my client entered into with Cross Pointe Commerce Corp. acknowledging that it will be their responsibility. This rezoning clearly meets the statutory requirements for rezoning. It fits in with the comprehensive plan for future development in this area. It is a good preservation of property values. This property will come under the governance of the covenants and restrictions for Cross Pointe Commerce Corp., so the quality will be in there consistent with the other development in the area. It’s an appropriate use of infrastructure, and where, in fact, as I indicated my client is committed to assist the county in developing Columbia Street and the infrastructure. It provides some wonderful tax benefits for this property, and hopefully will be wonderful asset for the county of Vanderburgh. I would be happy to answer any questions, if you have them. Otherwise, I would ask for an affirmative vote on this rezoning.

Madelyn Grayson: Krista, I do not have either of the documents for the record that you mentioned. The private covenant–

Krista Lockyear: It should be in the Plan Commission package. I have extra copies here if you would like them. I will confirm then that the private covenant is a copy of the recorded covenant. It was recorded in 2004, and runs with the land, and the agreement is for purchase of real estate. Of course, we’ve taken out some of the private provisions, but it does have in there the commitment of the buyer understanding and agreeing that they will be responsible for that development.

President Musgrave: Just to reiterate, if you’ve already said this, you will be installing your own half of Columbia Street as recommended?

Krista Lockyear: That is correct.

President Musgrave: Okay.

Krista Lockyear: And that is both written in the covenant that is recorded, and acknowledged in the purchase agreement.

President Musgrave: As a point of curiosity, are each of these a condo as you go across on your photo?

Krista Lockyear: I’m going to have to defer.

Steve Bodner: There are five in that picture that you are looking at. You can’t see the (inaudible).

President Musgrave: So, they are vertical?

Commissioner Nix: What you are showing there is–

President Musgrave: So, I would buy all three floors?

Krista Lockyear: That is correct. If you’ll note, as you look through the package, you’ll see first, second and third floor floor plans.

President Musgrave: I didn’t have time to study those. Well, I think it looks like a very exciting project, and can’t wait to see them.

Commissioner Nix: I would like to make a motion that we approve.

President Musgrave: Second. All those in favor?

All Commissioners: Aye.

President Musgrave: The motion carries.

Krista Lockyear: Thank you.

Commissioner Nix: Thanks.

President Musgrave: We do need a roll call vote on that. Commissioner Nix?

Commissioner Nix: Yes.

President Musgrave: Commissioner Musgrave votes yes.

President Musgrave: We need to approve the minutes of the August 16^th rezoning.

Commissioner Nix: So moved.

President Musgrave: Second. All those in favor?

All Commissioners: Aye.

President Musgrave: Does that complete our agenda?

Madelyn Grayson: Yes.

President Musgrave: That completes the rezoning agenda for this evening. Thank you for coming. We will now move immediately to the board of–

Commissioner Nix: Drainage.

President Musgrave: –Drainage Board.

President Musgrave: And I’m still President of that Board.

Commissioner Nix: You’re doing a fine job, just keep right on going.

Madelyn Grayson: May I change tapes real quick?

President Musgrave: Yeah.

(The meeting was adjourned at 4:20 p.m.)

         Those in Attendance:

         Cheryl Musgrave                      Bill Nix                            Ted C. Ziemer, Jr.

         Madelyn Grayson                     Krista Lockyear               Steve Bodner

         Others Unidentified                   Members of Media

VANDERBURGH COUNTY

REZONING BOARD

Cheryl A.W. Musgrave, President

Bill Nix, Vice President

Recorded and transcribed by Madelyn Grayson.