The group bought the 600 acres of woodland in Brown County from a group of investors who have owned the land since the 1980s.
Property owner David Jacobs will now have to conform the designs of his future home to guidelines set forth by the Historic Preservation Commission.
The two properties lie near where I-69 would be built, but Mayor Phil Deckard says he does not expect the interstate to be built for another 10 years.
Restrictions still in place will require residents to obtain a permit from the city to raise chickens, while many neighborhoods prohibit the birds outright.
Section 5 includes the area along SR 37 from Bloomington to Martinsville.
Officials unveiled a historical marker on Seminary Park's property.
The budget hearings are scheduled to begin September 13th.
According to the AG's office, many people do not even know they have unclaimed property.
Howard County officials say a 10.4 million dollar check from Chrysler will help the city pay debt.
If approved, the bill would authorize cities to file bankruptcy.