{"data":{"id":"us-ky/krs-56.8175","jurisdiction":"us-ky","citation":"KRS 56.8175","heading":"Built -to-suit involving construction on private property -- Option to","body":"purchase.\nWhen a built -to-suit lease is awarded to a firm that owns the land upon which the\nbuilding shall be built, the Commonwealth shall be granted an option to purchase  the\nleased buildings, land, and any appurtenant facilities. The option price to be paid shall not\nexceed its fair market value as of the time the option is exercised as determined by a\ncompetent and qualified real property appraiser, selected by mutual ag reement of the\nparties, employing the reproduction cost new or other accepted appraisal techniques;\nprovided, however, that in no event shall the option price be less than a sum equal to the\nremaining balance of any mortgage lien encumbering the property a nd securing the\nrepayment of moneys advanced to the owner for the original construction of the building,\nplus an amount not to exceed ten percent (10%) of such mortgage balance.","path":["KRS Chapter 56"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=58052","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:49:12Z","sha256":"5aae970156fac8707df2be7dd946c5d167fefe99aee86b2f68ba22f6afb6eb9b","source_id":"us-ky","stale":false,"prev":"us-ky/krs-56.8173","next":"us-ky/krs-56.8177"},"notice":"GroundRules: Original legal text. Not legal advice."}