KRS 99.170: Determination of development cost.

(1) Upon the completion of a development a redevelopment corporation shall, or upon

the completion of a principal part of a development a redevelopment corporation

may, file with the supervising agency an audited statement of the development cost

thereof. Within a reasonable time after the filing of such statement, the supervising

agency shall determine the development cost applicable to the development or such

portion thereof and shall issue to the redevelopment corporation a certificate stating

the amount thereof as so determined.

(2) A redevelopment corporation may, at any time, whether prior or subsequent to the

undertaking of any contract or expense, apply to the supervising agency for a ruling

as to whether any particular item of cost therein may be includ ed in development

cost when finally determined by the supervising agency, and the amount thereof.

The supervising agency shall, within a reasonable time after such application,

render a ruling thereon, and in the event that it shall be ruled that any item of cost

may be included in development cost, the amount thereof as so determined shall be

so included in development cost when finally determined.