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198A.020 Policy and purpose.
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The General Assembly hereby finds and declares that as a result of the spread
of slum conditions and blight to formerly sound urban and rural neighborhoods
and as a result of actions involving highways, public facilities and urban
renewal activities there exists in the Commonwealth a serious shortage of
decent, safe and sanitary residential housing available at prices or rentals
which can be afforded by persons and families of lower and moderate income.
This shortage is severe in certain urban areas of the state, is especially critical
in the rural areas, and is inimical to the health, safety, welfare and prosperity of
all residents of the Commonwealth and to the sound growth of Kentucky
communities.
The General Assembly hereby finds and declares further that private enterprise
and investment have not been able to produce, without assistance, the needed
construction of decent, safe and sanitary residential housing at low prices or
rentals which persons and families of lower and moderate income can afford,
or to achieve the urgently needed rehabilitation of much of the present supply
of residential housing available for persons and families of lower and moderate
income. It is imperative that the supply of residential housing for persons and
families of lower and moderate income affected by the spread of slum
conditions and blight and for persons and families of lower and moderate
income displaced by public actions or natural disaster be increased; and that
private enterprise and investment be encouraged to sponsor, build and
rehabilitate residential housing for such persons and families, to help prevent
the recurrence of slum conditions and blight and assist in their permanent
elimination throughout the Commonwealth.
The General Assembly hereby finds and declares further that the purposes of
this chapter are to provide financing for development costs, land development
and residential housing construction, new or rehabilitated, for sale or rental to
persons and families of lower and moderate income.
The General Assembly hereby finds and declares further that in accomplishing
this purpose, the Kentucky Housing Corporation shall be and constitute a de
jure municipal corporation and political subdivision of the Commonwealth of
Kentucky created for the performance of essential public functions and the
serving of public purposes in improving and promoting the health, welfare and
prosperity of the people of the Commonwealth of Kentucky by the production of
residential housing.
Effective:March 23, 1982
History: Amended 1982 Ky. Acts ch. 99, sec. 2, effective March 23, 1982. -Amended 1978 Ky. Acts ch. 220, sec. 2, effective June 17, 1978. -- Created
1972 Ky. Acts ch. 70, sec. 2.
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