2014 Kentucky Revised Statutes
CHAPTER 99 - URBAN RENEWAL AND REDEVELOPMENT
99.010 Definitions for KRS 99.010 to 99.310.
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<![CDATA[99.010 Definitions for KRS 99.010 to 99.310.
(1)
The following terms, whenever used or referred to in KRS 99.010 to 99.310
shall, unless a different intent clearly appears from the context, be construed
as follows:
(a) "Area" means a portion of a city which a planning commission has found
or shall find to be substandard or insanitary, so that the clearance,
replanning, rehabilitation, or reconstruction thereof is necessary or
advisable to effectuate the public purposes declared in KRS 99.020. An
area may include any buildings or improvements not in themselves
substandard or insanitary, and any real property, whether improved or
unimproved, the inclusion of which is deemed necessary for the effective
clearance, replanning, reconstruction, or rehabilitation of the area of
which such buildings, improvements, or real property form a part;
(b) "City" means and is deemed to relate to any city of the first class, a city
with a population of fifteen thousand (15,000) or more based upon the
most recent federal decennial census, or urban-county government in the
Commonwealth of Kentucky;
(c) "Development" means a specific work, repair, or improvement to put into
effect a development plan. The term includes the real property, buildings,
and improvements owned, constructed, managed, or operated by a
redevelopment corporation;
(d) "Development area" means that portion of an area to which a
development plan is applicable;
(e) "Development cost" means the amount determined by the supervising
agency to be the actual cost of the development, or of the part thereof for
which such determination is made, and includes, among other costs, the
reasonable costs of planning the development, including preliminary
studies and surveys, neighborhood planning, and architectural and
engineering services, the reasonable value of the services performed by
or for the incorporators of a redevelopment corporation in connection with
the development plan prior to the time when the redevelopment
corporation was incorporated or became a redevelopment corporation,
fees for acquisition costs, the costs of financing the development,
including carrying charges during construction, working capital in an
amount not exceeding five percent (5%) of development cost, the actual
cost of real property or any part thereof where acquired partly or wholly in
exchange for securities, then, an amount which shall be approved by the
supervising agency as being equal to the reasonable value of the real
property acquired therefor, the actual cost of demolition of existing
structures, the actual cost of utilities, landscaping, and roadways, the
actual cost of construction, equipment, and furnishing of buildings and
improvements, including architectural, engineering and builder's fees, the
actual cost of reconstruction, rehabilitation, remodeling, or initial repair of
existing buildings and improvements, reasonable management, and
operation costs until the development is ready for use, and the actual cost
of improving that portion of the development area which is to remain as
open space, together with such additions to development cost as shall
(2)
equal the actual cost of additions to or changes in the development in
accordance with the original development plan or after approved changes
in or amendments thereto;
(f) "Development plan" means a plan for the redevelopment of all or any part
of an area, and includes any amendments thereto approved in
accordance with the requirements of KRS 99.070;
(g) "Local legislative body" means the board of aldermen or other board or
body vested by the charter of the city or other law with jurisdiction to
adopt or enact ordinances or local laws;
(h) "Mortgage" means a mortgage, trust indenture, deed of trust, building and
loan contract, or other instrument creating a lien on real property, and the
indebtedness secured by each of them;
(i) "Neighborhood unit" means a primarily residential district having the
facilities necessary for well-rounded family living, such as schools, parks,
playgrounds, parking areas, and local shopping districts;
(j) "Planning commission" means the official bureau, board, planning and
zoning or other commission, or agency of the city or city and county
authorized to prepare, adopt, and amend or modify plans for the
development and improvement of the city generally;
(k) "Supervising agency" means the director of finance or such other person
or city agency as may be authorized by the local legislative body under
KRS 99.090;
(l) "Real property" includes lands, buildings, improvements, land under
water, waterfront property, and any and all easements, franchises, and
hereditaments, corporeal or incorporeal, and every estate, interest,
privilege, easement, franchise, and right therein, or appurtenant thereto,
legal or equitable, including rights-of-way, terms for years and liens,
charges, or encumbrances by mortgage, judgment, or otherwise;
(m) "Redevelopment" means the clearance, replanning, reconstruction, or
rehabilitation of a substandard or insanitary area, and the provision of
such industrial, commercial, residential, or public structures and spaces
as may be appropriate, including recreational and other facilities
incidental or appurtenant thereto;
(n) "Redevelopment corporation" means a corporation organized pursuant to
the corporation laws of the Commonwealth of Kentucky whose articles of
incorporation shall comply with the requirements of KRS 99.100 to
99.130; and
(o) "State" means the Commonwealth of Kentucky.
"Owner" as used in KRS 99.220 to 99.240, includes a person having an estate,
interest, or easement in the real property to be acquired or a lien, charge, or
encumbrance thereon.
Effective:January 1, 2015
History: Amended 2014 Ky. Acts ch. 92, sec. 185, effective January 1, 2015. -Amended 1968 Ky. Acts ch. 152, sec. 82. -- Created 1942 Ky. Acts ch. 36, secs.
2 and 14.
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