KRS 65.7057: Permitted sources for local funding for redevelopment assistance or

projects -- Special assessments -- Local participation agreement required.

(1) To provide funding for redevelopment assistance or projects in a development area

or projects in a local development area:

(a) Any taxing authority may, in addition to any other pledge permitted by law to

secure its obligations, pledge up to one hundred percent (100%) of the

incremental local tax revenues generated in the development area or local

development area or from a project within the development area or local

development area for up to thirty (30) years from the activation date;

(b) The amount of incremental revenues shall be determined for each type of tax

separately; and

(c) Local tax revenues from a development area that have not been pledged to

support redevelopment assistance or projects within the development area, or

from a local development area that have not been pledged to support projects

within the local development area, may be used to su pport other economic

development projects, provided that local tax revenues shall not be pledged

more than once. Thus, local tax revenues pledged to support increment bonds

issued for the development area or local development area shall not also be

pledged to support a specific project within the development area or local

development area, and those revenues shall not be pledged to support any

other program, development, or undertaking.

(2) Any city may pledge revenues collected under a special assessment i mposed under

KRS 91A.200 to 91A.290 to support projects or the provision of redevelopment

assistance within a development area, or to support projects within a local

development area, and may pledge revenues collected from the assessment to

support increment bonds.

(3) Any county may levy a special assessment under the terms and conditions

established for cities under KRS 91A.200 to 91A.290 to support projects or the

provision of redevelopment assistance within a development area, or to support

projects within a local development area, and may pledge revenues collected from

the assessment to support increment bonds.

(4) Any city, county, or combination of cities and counties establishing a development

area or a local development area may pledge revenues coll ected pursuant to the

occupational license fee permitted by KRS 65.7056.

(5) Any pledge of incremental revenues or other revenues related to a development area

by a taxing district shall be accomplished through the execution of a local

participation agreement in accordance with KRS 65.7063.

(6) Any pledge of incremental revenues or other revenues related to a local

development area by a taxing district shall be accomplished through the execution

of a local development area agreement in accordance with KRS 65.7047.