We wanted to share some information recently discovered:
On September 14, 2016, The Farmers Bank in Frankfurt, IN granted Three Mile Properties two loans for their development. $2.2 Million in loans. ($840,000 + $1,400,000)
On September 21, 2016, Three Mile Properties purchased the land from the Ryan family and the title was transferred. (Assessors Card)
On September 29, 2016, the City of Indianapolis issued them a wrecking permit (WRK16-00603) to take down the residence. The permit expires on October 29, 2016.
Since the property is now owned by Three Mile Properties, they are able to take down the house and trees.
While they are allowed to take these steps, it is very presumptuous and risky of them to assume how Judge John F. Hanley will rule. Cutting down the mature trees, that respect the character of the Traders Point area, will decrease the property’s value.
Oral arguments for the zoning permit have been set for October 11, 2016 at 10:00am. The case will be heard by Judge John F. Hanley (Marion County Superior Court – Civil Division 11, City-County Building, Center Tower, 14th Floor, Room T-1421). It is likely that a decision will come a couple months after the case is heard. More details will be sent out, but please mark your calendars and plan to attend!