KRS 80.190: Housing not to be operated for profit -- Authority to make payments in lieu

of taxes.

The authority shall manage and operate its housing in an efficient manner so as to enable

it to fix the rentals for dwelling accommodations at the lowest possible rat es consistent

with its providing decent, safe and sanitary dwelling accommodations, and no authority

shall construct or operate any project for profit, or as a source of revenue of the city.

Provided, however, that nothing contained in the housing authority law shall be construed

to prohibit an authority from making payments in lieu of taxes to the city, or other public

body, within the area in which any project is located in such amounts as the authority may

determine to be consistent with maintaining the low-rent character of the dwelling

accommodations.