City of Evansville–Outstanding Economic Development Loans


Over $4 Million in Outstanding Loans

Loans Receivable – Economic Development Loan Fund


  1. The City loaned Kunkle Group over $681,000. Super. Is it coincidence the City and ERC appear to favor the Kunkle Group for the downtown hotel contract?

  2. check out the Kunkel Group second from the bottom. $ 310,000 loan in 2006 at 0 % interest, and a dash ( – ) in the ‘Annual Payment’ column. It’s not a loan if there is no Annual Payment–it’s a gift ! The vetters for the Hotel need to take a look at this matter to ensure that there is a valid reason for these “loan terms” or to determine if there were inside favors granted which might preclude Kunkel’s selection in the Hotel scurmish.

  3. There are three loans with 0% interest. Two non-profits and Kunkel Group.

    Next question is how did Citizens Bank get on the list with a loan in 2008? Didn’t 5th 3rd buy them out in 2000? With Citizens Bank getting a 2% $2,300,000 loan in 2008 and 5th 3rd making a $1,600,000 loan to Centre City Properties for the McCurdy the same year this could raise lots of questions.

    Looks to me like the CCO’s little pal Snegal may have been behind some of these schemes.

    • The Donald, are you saying that Kunkel Group is also a non-profit ? If that’s true, they should be hired to build the hotel–think of the savings, the City gets everything at cost !!!

      • Of course not. Kunkel is a for profit business. The CVB and Gage that both got 0% loans from the city are non-profits.

        Looking at the dates one would expect that the Kunkel loans have to do with downtown condos. The same for the Stratman’s Rental loan for $150,000. The difference is that Kunkel got 0% and Stratman’s had to pay 3%. Stratman’s is making payments and Kunkel is not.

        • rumor I heard was that Stratman’s deals drugs, that’s probably why those sharpies at City Hall demanded a 3 % risk premium.

    • Fifth Third bought out Civitas which was the successor to Citizen’s Bank. Your questions raise very interesting issues.

      • So, why would any transaction like this be done under that name of Citizens except to make it hard to trace?

      * * * * * * * * *

      Citizens National Bank of Evansville, Evansville, Ind.

      Dec. 31, 1998

      Citizens National Bank of Evansville, Evansville, Ind., merged into Citizens Bank of Mid America, Saint Joseph, Mich.

      April 22, 1999

      Citizens Bank of Mid America changed its title to Civitas Bank, Saint Joseph, Mich.

      March 18, 2000

      Civitas Bank changed its title to Fifth Third Bank, Indiana, Saint Joseph, Mich.

      March 20, 2001

      Fifth Third Bank, Indiana, relocated to Indianapolis.

      The former head office location of Citizens National Bank of Evansville is a branch of Fifth Third Bank, Indiana, Indianapolis.

      Dec. 21, 2003

      Fifth Third Bank, Indiana, Indianapolis, Ind. merged into Fifth Third Bank, Grand Rapids, Mich.

      The Former head office location of Citizens National Bank of Evansville is a branch of Fifth Third Bank, Grand Rapids, Mich.


      • Nice digging.

        Now we need to figure out why the loan was made to Citizens Bank in 2008…

        I smell another FOIA

        • ——————————————————————————–
          Name Searched On:
          CITIZENS BANK (Former)

          Current Information

          Entity Legal Name:

          Entity Fictitious Name:

          Entity Address:
          PO BOX 48, ST JOSEPH, MI 49085

          General Entity Information:

          Control Number: 1996110445
          Status: Revoked
          Entity Type: For-Profit Foreign Corporation

          Entity Creation Date: 11/7/1996
          Entity Date to Expire:
          Entity Inactive Date: 7/18/2008

          Original Creation Date:
          Original Creation State: MI

          Other Names for this Entity:

          Date Name (Type)
          12/31/1998 PINNACLE BANK (Former)
          4/27/1999 CITIZENS BANK OF MIDAMERICA (Former)

          • So they were made inactive 4 months after receiving the 2.3mil.

            5/3 seems to have assumed the loan payments…

            I wonder if Snegal held a high position at former Citizens Bank?

      • Joe B.,

        If the City is making loans to a Bank, the City should become a Bank ! I heard the name ‘Bank of Evansville’ is now available. The new “Bank of Evansville” could lend 100 cents on the dollar to one of the two hotel developers, and finally get that project off the ground. Since the citizens are fully behind the Arena effort, I don’t think anyone will have a problem with that . . . .

  4. Guess that is how the Vanderburgh Democratic Party is paying for their new Headquarters. Kunkel Group has allowed the Dem Party to be there rent-free until they can get enough money to pay for rent.

    I am glad as a taxpayer that even though I am Republican, I have to pay for the other side because they are incapable of paying their own rent. Says a lot about the “Established Dems” vs. the “Davis Dems”.

    Davis can rub two pennies together and get a quarter…why can’t Mark Owens?

    • Then Davis best be getting to rubbing faster. He has 1/6th the money that Winnecke has. Word on the street is that he has raised less than 70k since the primary and spent most of it. Winnecke has over $400,000.

        • Weinzapfel had/has TWICE as much as Winnecke and he knew he could’t win, and wisely declined to run.
          His clone Winnecke won’t fair any better than Weinzapfel would have: Homestead Tax Toast.

          • LOL Weinzapfel would have won in a walk. I however strongly encourage Davis to run for another office. How about Dog Catcher?

          • This is not about who has the money. This is not about Weinzapfel or the Homestead Credit mess up. This is about Evansville as a community.

            Do you want a mayor who cannot get along with his own family? Who takes out after anyone who his little coven of has been cronies instruct him to attack because their target committed an unforgivable political transgression half a century ago?

            Do you want a mayor who directs his volunteers to work against every elected office holder who Little Ricky and his handlers hold a grudge against? A mayor who could never build a consensus between people who happen to have disagreed with his ideas in the past? Someone who holds grudges and feels the overpowering need to get even? Someone who learned these unsavory political tactics from his coven of old cronies who talked him into running for mayor only to satisfy decades old grudges?

            Or do you want a mayor who looks mayoral? A mayor who has worked to build consensus not only within party lines but across party lines? A mayor who you know ahead of time can reach out to other mayors, reach out to the statehouse and the governor’s office, reach out at mayor’s conferences and business conventions, and bring resources and jobs to Evansville to build a future for our children?

            Do you want a mayor who will promote Evansville, or a mayor who has spent the past two years tearing down every attempt at progress and promotion of Evansville?

            It’s one thing to be a halfway decent county treasurer. It’s quite another to be the chief executive of Evansville. I want a mayor, not a minor leaguer.

    • I do not know where you get your information. However, you are either a liar or misinformed. The Vanderburgh County Democratic Party relocated to the Walker Building, which is owned by the Kunkel Group on April 1, 2011. We have a lease agreement and pay rent each month as was reported in our pre-primary financial report and will be reported in our pre-general financial report. Our books are an open record and out expenses are publicly reported as required by law. Any statement to the contrary is incorrect.

      Mark R. Owen
      Chairman, Vanderburgh County Democratic Chairman

  5. One wonders, Do these people sit up at night , worshiping the Devil and figuring out a way to scam their brothers and sisters out of that “All Mighty” dollar? It’s hard to reach any other conclusion,
    —except that they are Evil People.

  6. Sorry clovis, but,- IT IS ABOUT WHO– would take the Homestead Tax exemption away from the Homeowners,
    and NOT your petty problems with the Democrat Central Commitee defeat this past May.
    Wennicke revealed his True self with his silence.

    • Sorry, Crash, the primary is over. Your candidate won. He just cannot accept the win and move on with a forward looking campaign. Instead he continues to attack his own like a cannibalizing eel. That’s because he did not succeed in total victory in the primary. Some of his hand picked Rickites lost in the 2nd and 3rd wards. So Rick feels compelled to continue attacking people on the same ticket thereby alienating himself from his teammates and driving away their supporters in droves.

      Crash, I have no problems with the Democrat central committee. I’m only concerned with a better Evansville. If members of the Democrat central committee share my concerns for Evansville, I’m all for them. Same goes for members of the Republican central committee. Both of the committees should put up their candidates and let me and other voters decide which candidates have the vision, potential, skills, drive, ethic, and chutzpah to get with it and get the job done for Evansville. I’ll vote for the candidates, regardless of party, who I think will move Evansville in the right direction for my kids and grandkids, friends and fellow taxpayers – party be damned.

      Problem with Rick is he’s stuck in a rut of his own making. He let a small group of sour old windbags talk him into fronting for the accumulated petty grievances they hold against this or that Democrat office holder. Why should anyone care whether this old windbag or that old windbag didn’t get this cushy job for their son or that cushy appointment for themself or some political favor went to someone else? That is so yesteryear. Sorry guys, it’s time to move forward for Evansville. Vote for Winnecke.

      • “accumulated petty grievances”? I have never heard anyone describe the things going on inside the current city administration as “accumulated petty grievances”.

        BTW, Winnecke made himself a part of those “petty grievances” on issues like the local homestead credit and the doing away with the protections of the rejection threshold for county residents living outside the City of Evansville.

        And then there is the loan that Evansville made to Winnecke’s bank, which made the proceeds of that loan available to City Center Properties about the time that CCP purchased the McCurdy. What was that all about?

        • I was not referring to anything inappropriate or unethical done by or within the current city administration. Rather, I meant imaginary and paranoid grievances Rick concocts over purely political transgressions he assigns to individual candidates or office holders he then attacks. Rick’s mayoral candidacy is purely the result of Rick’s inflated ego and misplaced blame on Weinzapfel and Owen for all sorts of petty little political snittery that more mature politicians simply let slide off their backs day after day. Some day maybe Rick will finally realize most of what he blames on Weinzapfel and Owen actually originated with people he considers friends and supporters.

  7. Let’s just look at the division in the Democratic Party.

    One question if you are a Democrat (as I used to be previously to the Mayor’s re-election); why don’t you support Davis?

    Mr. Mark Owen did not even support his mayoral candidate’s booth at the Vanderburgh County Fair. Actually the ONLY support I saw was John Friend and Conor o’Daniel…where was Mrs. Mosby at?

    Actually after the tractor pull, I went over and didn’t even see a Democrat booth, did anyone else?

    • Why would a Democrat support Davis? He has never supported the Democratic Party. Rick has repeatedly trashed and slammed just about every member of his party on many occasions. Mr Mark Owen support him at the fair? You think the county chair should stand in the booth? From what I hear the Democrats didnt do a booth this year because of Davis’s insistence on having his own special all about him booth and his party decided not to amplify the divisions even more by having a separate booth. Seems like the Democrat Party does more to keep Davis from stepping on his wang

      • Was disconnected. Seems the Democratic Party has spent more time to keep him from stepping on his wang yet hes bound and determined to look like the biggest horse’s ass in Southern Indiana. You dont build support in your party by accusing a Council member of running for office purely to milk the city for health care benefits. What you should be saying is “How are there still any Democrats left that CAN support him”

        • you’d be hard pressed to find any bigger horse’s patooties than King John or his accomplice/concubine Mark Owen.
          Petty Sour Grapes is all you have left to “sell”.
          certainly not creditablity. The Weinzapfel era is
          over.—-under, and DONE. Wannnnnah!
          How did Mr. Davis ever defeat “the good Ole boys”?
          Would you believe more Democrats voted for him than his opponent, –strange? No, they ARE more than tired of the Weinzapfel “gang”.

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