KRS 99.675: Sale or exchange of real property.

The agency may sell, exchange, lease, or otherwise transfer real property acquired under

the provisions of KRS 99.610 to 99.680 to one (1) or more private individuals or to

public bodies, and thereafter the real property shall be used only in accordance wi th the

limitations and conditions set forth in the development plan. Maximum opportunity,

consistent with the sound needs of the locality, shall be given private enterprise in the

development and subdevelopment of project areas. The agency shall sell, lease, exchange,

or withhold for public use by the state or any public body thereof, all of the property

which it has acquired in such project area as soon as feasible and in the public interest.

Prior to any such sale or exchange of real property, the agency shall obtain appraisals

made by independent appraisers of the value of such real property proposed to be sold or

exchanged, which appraisals shall be based upon the new uses established for such real

property. These appraisals shall be used as a guide for the agency in disposing of its real

property, but the agency shall not be bound thereby.