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99.020 Declaration of necessity for and purpose of KRS 99.010 to 99.310.
It is hereby declared that in cities of the first and second class substandard and
insanitary areas exist which have resulted from inadequate planning, excessive land
coverage, lack of proper light, air, and open space, defective design and
arrangement of buildings, lack of proper sanitary facilities, and the existence of
buildings which, by reason of age, obsolescence, inadequate or outmoded design,
or physical deterioration, have become economic or social liabilities, or both; that
such conditions are prevalent in areas where substandard, insanitary, outworn or
outmoded industrial, commercial or residential buildings prevail, and are conducive
to ill health, transmission of disease, infant mortality, juvenile delinquency, crime and
poverty; that such conditions impair the economic value of large areas, infecting
them with economic blight and that such areas are characterized by depreciated
values, impaired investments, and reduced capacity to pay taxes; that such
conditions are chiefly in areas which are so subdivided into small parcels in divided
ownerships and frequently with defective titles, that their assembly for purposes of
clearance, replanning, rehabilitation and reconstruction is difficult and costly; that the
existence of such conditions and the failure to clear, replan, rehabilitate or
reconstruct these areas result in a loss of population by the areas and further
deterioration, accompanied by added costs to the communities for creation of new
public facilities and services elsewhere; that it is difficult and uneconomic for
individual owners independently to undertake to remedy such conditions; that it is
desirable to encourage owners of property or holders of claims thereon in such
areas to join together, with or without other persons, or other persons to join
together, in corporate groups, for the purpose of the clearance, replanning,
rehabilitation and reconstruction of such areas by joint action; that it is necessary to
create, with proper safeguards, inducements and opportunities for the employment
of private investment and equity capital in the clearance, replanning, rehabilitation
and reconstruction of such areas; that such conditions require the employment of
such capital on an investment rather than a speculative basis, allowing, however, the
widest latitude in the amortization of any indebtedness created thereby; that such
conditions further require the acquisition at fair prices of adequate areas, the gradual
clearance of such areas through demolition of existing obsolete, inadequate, unsafe
and insanitary buildings and the redevelopment of such areas under proper
supervision with appropriate planning, land use and construction policies; that the
clearance, replanning, rehabilitation and reconstruction of such areas on a large
scale basis are necessary for the public welfare; that the clearance, replanning,
reconstruction and rehabilitation of such areas are public uses and purposes for
which private property may be acquired; that such substandard and insanitary areas
constitute a menace to the health, safety, morals, welfare and reasonable comfort of
the citizens of such cities and the state; that such conditions require the creation of
the agencies, instrumentalities and corporations hereinafter described, for the
purpose of attaining the ends herein recited; that the protection and promotion of the
health, safety, morals, welfare and reasonable comfort of the citizens of such cities
and the state are matters of public concern; and the necessity in the public interest
for the provisions hereinafter enacted is hereby declared as a matter of legislative
determination.
Effective:June 14, 1968
History: Amended 1968 Ky. Acts ch. 152, sec. 83. -- Created 1942 Ky. Acts ch. 36,
sec. 1.
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