I​t would compete for federal money available from the Indiana Housing and Community Development Authority's Blight Elimination Program (BEP).

EVANSVILLE, Ind. — City participation in a federally-funded program to eliminate the problem of vacant and abandoned homes will end in December. But the Evansville Land Bank, another effort in the battle against urban blight, will continue.
Beginning in 2014, the city's Blight Elimination Program received $2.3 million in federal money distributed by the Indiana Housing and Community Development Authority. The money originated from the federal Troubled Asset Relief Program (TARP) during the 2008 financial crisis.