Sell 4 Free Real Estate
TRUMAN ROAD ALTERNATE USE PROPOSAL
The City of Jasper is reviewing a proposal for potential uses of its Truman Road property.
Matthew Doukakis, an MBA candidate with IU’s Kelly School of Business, has developed some
options for the city to consider for a currently underused property. The Truman Road property
is roughly 11 acres in total, comprised of 7 acres of grassland and 4 acres of woodland.
Approximately 60% of the land is within the 500-year floodplain. The land is not in use, and is
currently mowed about 8 times a year at an expense of $3500 annually. In his proposal,
Doukakis laid out the 4 most viable options for the city to evaluate as potential alternative uses
for the property.
1. Naturalized Open Space – By hiring a local ecological consultant to plant native
wildflowers , thereby reducing the need for mowing, maintenance would drop to
around $600 per year. This would maintain land use flexibility moving forward, but it
would take about three years for the flowers to come to maturity. This could be an issue
for nearly landowners, since they have been accustomed to the appearance of a cut
lawn.
2. Low Intensity Recreational Park – This would take the first option and add a pathway to
create a more defined space as a community amenity. It would allow increased
accessibility and expand overall usage. Pathway installation costs are estimated to be in
excess of $100,000, and current maintenance costs could increase.
3. Wetland Conversion – Doukakis’ analysis found that the property is already conducive to
become a wetland. At the perimeter, there are two flowing streams of water that collect
in a basin at the bottom and able to hold aquatic life for observation. The conversion
would decrease maintenance costs to around $2100 annually and would have ecological
benefits. Wetlands can become good concentrations of biodiversity and can help with
stormwater retention, as they are able to hold runoff in times of high rainfall. However,
they are highly regulated and would be more difficult to transition to a different use at a
later time. There is a DNR grant application that could potentially offset 80% of costs to
construct a wetland, up to $100,000. That would leave a remaining cost of $16,000 to
$20,000 for the conversion if the city qualifies for funds.
4. Land Sale – By offering the property for sale, the city could introduce the potential for
private development. The short-term revenue generation would also provide funds to
reinvest in a different municipal project. The sale process could cost upwards of
$18,000, so this would be an important consideration in determining potential sale
prices. The nature of the property currently requires industrial farm equipment for
maintenance, which may be discouraging for a private sale. The floodplain may also
make it less attractive to commercial buyers.
The proposal will be considered by the city as officials evaluate the best way to balance the
maintenance, cost, and potential community benefits of the property.
For more information on these and other updates, visit jasperindiana.gov or JasperGov-Indiana
on Facebook.
- Drew Hasselbring