NORTH VERNON, Ind. — The North Vernon Redevelopment Commission is evaluating a potential land sale to local business owner Steve Gasper for an approximately 20-acre parcel of city-owned industrial property located north of the bypass.
Two independent appraisals for the property returned differing values, with Jerry Lamb appraising the land at $7,500 per acre and Tyler Appraisals valuing it at $11,000 per acre.
Discussion during the meeting highlighted that the land is designated as pre-emergent wetlands, which would require a developer to complete wetland mitigation at a two-for-one ratio or higher to build on the site.
Because access to the parcel is primarily through Gasper’s existing property and the site carries significant mitigation costs, commission members voiced support for entertaining an offer near the $7,500 per acre threshold, provided the parcel remains zoned for industrial use.
Legal counsel Larry Greathouse is reviewing statutory requirements for advertising unsolicited land purchase offers before the commission takes formal action.
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