KRS 416.670: Limitations on condemnation powers -- Rights of current landowner.

(1) Development shall be started on any property which has been acquired through

condemnation within a period of eight (8) years from the date of the deed to the

condemnor or the date on which the condemnor took possession, whichever is

earlier, for the purpos e for which it was condemned. The failure of the condemnor

to so begin development shall entitle the current landowner to repurchase the

property at the price the condemnor paid to the landowner for the property. The

current owner of the land from which th e condemned land was taken may reacquire

the land as aforementioned.

(2) Any condemnor who fails to develop property acquired by condemnation or who

fails to begin design on highway projects pursuant to KRS Chapter 177 within a

period of eight (8) years af ter acquisition, shall notify the current landowner of the

provisions of subsection (1) of this section. If the current landowner refuses to

purchase property described in this section, public notice shall be given in a manner

prescribed in KRS Chapter 424 within thirty (30) days of the refusal, and the

property shall be sold at auction. Provided, however, that this section shall not apply

to property acquired for purposes of industrial development pursuant to KRS

Chapter 152 or a project of a transportatio n improvement district under KRS

184.350 to 184.395.

(3) If there are two (2) or more current owners of the land from which the condemned

land was taken because the remaining land was subdivided, and if they have a

common boundary with the condemned land, the condemned land shall be

reacquired by allowing all owners of a parcel of the remaining land with a common

boundary and from which the condemned land was taken to offer sealed bids for the

condemned land within thirty (30) days of notification by the co ndemnor. The

condemnor shall accept the highest and best sealed bid equal to or greater than the

price paid at the time of condemnation. If there are no sealed bids or if all sealed

bids are below the original price paid by the condemnor for the property, the

property shall be sold at auction.