2011 Kentucky Revised Statutes CHAPTER 65 GENERAL PROVISIONS APPLICABLE TO COUNTIES, CITIES, AND OTHER LOCAL UNITS 65.7053 Contents of ordinance establishing a development area -- Agency to oversee and administer implementation of ordinance -- Termination date.
KY Rev Stat § 65.7053 (1996 through Reg Sess) What's This?
65.7053 Contents of ordinance establishing a development area -- Agency to
oversee and administer implementation of ordinance -- Termination date.
(1)
(2)
(3)
An ordinance establishing a development area shall include the following
provisions:
(a) A legal description of the boundaries of the development area, and geographic
reference points;
(b) The establishment date;
(c) The termination date, including a provision that allows the termination date to
be extended as provided in KRS 65.7045(35);
(d) A name for the development area for identification purposes;
(e) A finding that the conditions in the development area meet the criteria
described in KRS 65.7049;
(f) A finding supporting the need to employ redevelopment assistance in the
development area;
(g) A provision adopting the development plan required by KRS 65.7051(1);
(h) Approval of any agreements relating to the development area, including any
local participation agreements;
(i) A provision establishing a special fund for the development area or any
project within the development area;
(j) A requirement that any entity other than the governing body that receives
financial assistance under the development area ordinance, whether in the
form of a grant, loan, or loan guarantee, shall make periodic accounting to the
governing body;
(k) A provision for periodic analysis and review by the governing body of the
development activity in the development area, a review of the progress in
meeting the stated goals of the development area, and a requirement that the
review and analysis be forwarded to the authority if the development activity
includes projects subject to a tax incentive agreement;
(l) Designation of the agency or agencies responsible for oversight,
administration, and implementation of the development ordinance; and
(m) Any other provisions, findings, limitations, rules, or procedures regarding the
proposed development area or a project within the development area and its
establishment or maintenance deemed necessary by the city or county.
An ordinance establishing a development area may designate an existing agency to
oversee and administer implementation of a development area ordinance or a
portion thereof.
Unless the ordinance establishing a development area requires an earlier date, a
development area shall cease to exist on the termination date.
Effective: June 8, 2011
History: Amended 2011 Ky. Acts ch. 62, sec. 6, effective June 8, 2011. -- Amended
2009 (1st Extra. Sess.) Ky. Acts ch. 1, sec. 59, effective June 26, 2009. -- Amended
2008 Ky. Acts ch. 178, sec. 5, effective July 15, 2008. -- Created 2007 Ky. Acts
ch. 95, sec. 7, effective March 23, 2007.
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