In 1853, the trustees elected Clark T. Hinman as the first president of the university and committed to raising $200,000. Hinman insisted that a university, rather than a preparatory school, be constructed first and that it should be built outside of Chicago. Following Hinman's recommendation, Lunt began to survey for land that was both north of the city and abutting railways for a new university in the areas of Jefferson Park and Ridgeville. Unable to find available land on the north shore up to Lake Forest, the committee was ready to purchase farmland to the west of the city when Orrington Lunt insisted on one final visit to the present location. A parcel of dry, wooded bluffs overlooking Lake Michigan belonging to a Dr. John Foster (unrelated to Randolph S. Foster) was purchased by Evans for $25,000 in August 1853 as a site for the new campus. In 1855, the university charter was amended to declare that university property "shall be forever free from taxation for any kind and all purposes." The trustees aggressively used the property-tax-exempt status to purchase more of the surrounding farms and Northwestern land holdings grew as large as . In 1854, Philo Judson, Northwestern's business manager charged with surveying and plotting this real estate nicknamed the land "Evanston" in honor of founder John Evans. In 1857, the Illinois legislature changed the name of the village from Ridgeville to Evanston and it became an incorporated city in 1863. The university undertook a major development effort to drain the swamps, clear and grade the land, and donated or sold land to permit the construction of streets, parks, schools, waterworks, and churches. Between 1860 and 1870, Evanston's population had grown from 831 to 3,062.