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36,272 statutes · page 1809 of 1814
United States — Kentucky legislation
20 statutes shown from 36,272 source-backed records
Redevelopment corporations are barred from taking listed development, property, financing, dividend, dissolution, and reorganization actions unless the required approvals are obtained.
General corporation law provisions, as amended from time to time, apply to redevelopment corporations unless they conflict with KRS 99.010 to 99.310.
A redevelopment corporation may not issue stock unless it has actually received money, property, or services for the corporation’s lawful use and purposes.
A redevelopment corporation must file an audited development-cost statement when a development is completed, and the supervising agency must determine the cost and issue a certificate within a reasonable time.
A redevelopment corporation must send the supervising agency required financial reports and other materials, and keep required reserves and accounts.
A city official may start a Circuit Court case to enforce redevelopment-law compliance, and the court must set an answer deadline and review the facts.
Certain fiduciaries and public bodies may transfer real property in a development area to a redevelopment corporation, unless the fiduciary instrument forbids it.
A redevelopment corporation may acquire real property, and the city may condemn, convey, fund, and otherwise support redevelopment property acquisition under stated conditions.
A redevelopment corporation must submit a verified petition to the supervising agency before condemnation of real property in a development area, and a city may not start the condemnation until a certificate is issued.
A redevelopment corporation must request city action before condemnation starts, and if the request is granted the ordinance must set payment terms and the corporation must file survey/map copies.
This section says what evidence can be used in condemnation cases, allows the court to speed up the case, and limits acquisition of certain public property without consent.
The redevelopment corporation or city may let former owners, tenants, or others temporarily occupy or use acquired property for payment, and the city must credit those payments in a later title transfer. After the term ends, the redevelopment corporation or city is entitled to immediate possession.
A redevelopment corporation may borrow money and mortgage property, but borrowing before redevelopment requires approval from the supervising agency.
Certain fiduciaries, public bodies, public officers, and listed financial institutions may invest in specified redevelopment corporation securities if the mortgage limit conditions are met.
Investment limits do not apply to certain FHA-insured or FHA-committed securities, and listed persons may receive and hold specified FHA-issued instruments if they comply with the insurance contract.
A city may sell specified real property to a redevelopment corporation if the local legislative body authorizes it and required conditions are met.
The supervising agency must decide whether redevelopment has been completed and issue a certificate of completion to the redevelopment corporation when the required finding is made. Redevelopment property or units may be sold or mortgaged if the statutory conditions are met.
This section says KRS 99.010 to 99.300 should be read broadly to carry out their purposes.
This section was repealed in 1968.
This section declares the Commonwealth’s policy to eliminate slum and blighted conditions and treat related redevelopment as a public purpose.
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