Section 65.7043 - Purposes of KRS 65.7041 to 65.7083The purposes of KRS 65.7041 to 65.7083 are as follows:
(1)KRS 65.7047 provides authority for cities and counties to establish local development areas for the development of previously undeveloped land within their jurisdictional boundaries and to devote local resources to support the development of projects in those local development areas. Local development areas established under KRS 65.7047 and projects within local development areas shall not be eligible for participation by the Commonwealth; and(2)(a)KRS 65.7049, 65.7051, and 65.7053 provide a framework for cities and counties:1. To establish development areas for:a. The redevelopment of previously developed land within their jurisdictional boundaries; andb. The development of previously undeveloped land, if:i. The project proposed for the development area includes an arena as part of the proposed development;ii. The project is a mixed-use development located in a university research park;iii. The project is a mixed-use development located within three (3) miles of a military base that houses, deploys, or employs any combination of at least twenty-five thousand (25,000) military personnel, their families, military retirees, or civilian employees;iv. The project is a mixed-use development which includes either or both significant public storm water and sanitary sewer facilities designed to comply with a community-wide court decree mandating corrective action by the local government or an agency thereof; orv. The project is a mixed-use development that includes a tract of previously undeveloped land that was owned by a liberal arts educational institution within four (4) years prior to April 10, 2017, and the previously undeveloped land is bounded on one (1) side by a four (4) lane United States highway on April 10, 2017. No more than fifty percent (50%) of the previously undeveloped land shall be used for qualified mixed uses; and2. To devote local resources to providing redevelopment assistance and supporting projects in those development areas.(b) Projects within development areas established pursuant to KRS 65.7049, 65.7051, and 65.7053 shall be eligible for participation by the Commonwealth if such projects meet the requirements for Commonwealth participation established by Subchapter 30 of KRS Chapter 154.Amended by 2017 Ky. Acts ch. 174,§ 1, eff. 4/10/2017.Amended by 2013 Ky. Acts ch. 99,§ 1, eff. 6/24/2013.Effective:6/8/2011
Amended 2011, Ky. Acts ch. 62, sec. 1, effective6/8/2011. -- Amended 2009, (1st Extra. Sess.) Ky. Acts ch. 1, sec. 56, effective 6/26/2009. -- Amended 2008, Ky. Acts ch. 178, sec. 1, effective 7/15/2008. -- Created 2007, Ky. Acts ch. 95, sec. 2, effective 3/23/2007.