JEFFERSONVILLE — An agreement has been reached between the Jeffersonville Redevelopment Commission and the Southern Indiana Tourism Bureau regarding the property where the bureau’s offices and visitor center used to be.
City attorney Les Merkley explained the situation during the commission’s meeting Wednesday with the original bureau offices and visitor center located at 305 and 315 Southern Indiana Ave.
He said the building was auctioned at a public sale, and they entered into a purchase agreement with the winning bidder.
SoIN Tourism Executive Director Jim Epperson said a title search was ordered before the start of the auction of the property, but they didn’t receive the results until the end of the auction on Dec. 12, 2023, where they saw the reversion clause.
Epperson said the deed to the property contained a reversion clause that was written in 1996 that states that when the tourism bureau leaves the property, it reverts back to the commission. He said the property was originally sold to the bureau from the commission for $1.
“It was really a protection for both organizations back then,” Epperson said about the clause.
Merkley and Jeffersonville Mayor Mike Moore said discussions were made and agreement was reached between the commission and bureau.
“I’m satisfied with these terms,” Moore said at the meeting.
The tourism bureau will revert the property back to the commission, which will then be sold. Around $396,000 will go toward the commission, while the bureau will receive $455,000.
“I think the portion that we’re getting recognizes the investment that we’ve made over the years, but also respects the original ownership of the redevelopment commission,” Epperson said.
He said the property will be sold to Neace Ventures, and the closing of the sale will occur by the end of April. He said he thanks the attorneys that worked on this agreement with the city and bureau.
“We had great use of that property for 27 years,” Epperson said.
In February, the bureau moved to an office in downtown Jeffersonville at 228 Spring St., Suite 106. Epperson said there has been an “automatic uptick” of foot traffic to the visitor center particularly with residents.
“When that foot traffic really starts taking off with people crossing the bridge and events on the river stage, we know it’s going to be a great location for us,” he said.
