KRS 65.7055: Amendment, change, or revision to development plan or development area

-- Adoption -- Hearing and notice -- Ordinance.

Any amendment, change, or revision to a development plan adopted as part of a

development area established pursuant to KRS 65.7049, 65.7051, and 65.7053, including

the addition of a project, use of new or different redevelopment assistance within the

development area, or amendment of the development area boundaries shall be made as

follows, provided that any amendment adopted shall not extend the existence of

development area beyond the termination date:

(1) An amendment to the development plan shall be adopted by the city or county. The

proposed development plan amendment shall include the following:

(a) Identification of the development area to which the amendment applies;

(b) A copy of the development plan as revised by the amendment;

(c) A narrative description of the proposed changes to the original development

area plan and how those changes will impact the original development plan;

(d) If the amendment changes the boundaries, or in any way amends maps filed

with the original development plan, a revised map, a revised legal description

of the development area, and revised geographic reference points, and

identification of new improvements, or projects proposed in the amendment;

(e) A description of the redevelopment assistance proposed to be employed,

including the manner and location of such assistance relating to the proposed

amendment;

(f) A financial plan relating to the propose d amendment, including the proposed

cost of providing any redevelopment assistance and proposed projects to be

funded, the sources of funding to meet those costs, projected incremental

revenues, and the projected time period during which financial obligati ons

will be incurred;

(g) Proposed changes of any zoning ordinance, comprehensive plan, master plan,

map, building code, or ordinance required to implement the proposed

amendment; and

(h) If the city or county is a member of a planning unit, certification of review by

the planning commission for compliance with the comprehensive plan of the

planning unit pursuant to KRS Chapter 100 after any necessary changes

identified in paragraph (g) of this subsection are made.

(2) Prior to the adoption of an amendment to a development plan, the city or county

shall comply with the hearing and notice provisions set forth in KRS 65.7051(2)

and (3). The notice provided in relation to an amendment to the development plan

shall include a summary of how the amendment changes the development plan and

shall identify new redevelopment assistance and projects proposed by the

amendment.

(3) The city or county shall adopt any amendment to the development plan and any

amendment to the development area by ordinance. The ordinance shal l include the

following provisions:

(a) A provision adopting the amendment to the development plan required by

subsection (1) of this section;

(b) Approval of any local participation agreements or other agreements relating to

the amendment;

(c) The identification of any new or different state or local tax revenues pledged

by any taxing district to support the provision of redevelopment assistance or

projects identified in the amendment;

(d) A finding that the amendment does not increase the aggregate value of taxable

real property included in all the redevelopment areas and the local

development areas within the jurisdiction of the city or county to more than

twenty percent (20%) of the total value of taxable real property within its

jurisdiction. For the purpose of determining whether the twenty percent (20%)

threshold has been met, the assessed value of taxable real property within all

of the local development areas and development areas shall be valued as of

the establishment date; and

(e) Any other provisions, findings, limitations, rules, or procedures regarding the

amendment deemed necessary by the city or county.