KRS § 80.190 Housing not to be operated for profit -- Authority to make payments in lieu of taxes.

80.190 Housing not to be operated for profit -- Authority to make payments in lieu of taxes. The authority shall manage and operate its housing in an efficient manner so as to enable it to fix the rentals for dwelling accommodations at the lowest possible rates consistent with its providing decent, safe and sanitary dwelling accommodations, and no authority shall construct or operate any project for profit, or as a source of revenue of the city. Provided, however, that nothing contained in the housing authority law shall be construed to prohibit an authority from making payments in lieu of taxes to the city, or other public body, within the area in which any project is located in such amounts as the authority may determine to be consistent with maintaining the low-rent character of the dwelling accommodations. Effective: July 13, 1984 History: Amended 1984 Ky. Acts ch. 361, sec. 11, effective July 13, 1984. -- Amended 1946 Ky. Acts ch. 181, sec. 1. -- Amended 1942 Ky. Acts ch. 70, sec. 34. -- Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. sec. 927a-13, 2741x-8a.