{"data":{"id":"us-ky/krs-65.7053","jurisdiction":"us-ky","citation":"KRS 65.7053","heading":"Contents of ordinance establishing a development area -- Agency to","body":"oversee and administer implementation of ordinance -- Termination date.\n(1) An ordinance establishing a development area shall include the following\nprovisions:\n(a) A legal description of the boundaries of the development area, and geographic\nreference points;\n(b) The establishment date;\n(c) The termination date, including a provision that allows the termination date to\nbe extended as provided in KRS 65.7045(35);\n(d) A name for the development area for identification purposes;\n(e) A finding that the conditions in the development area meet the criteria\ndescribed in KRS 65.7049;\n(f) A finding supporting the need to employ redevelopment assistance in the\ndevelopment area;\n(g) A provision adopting the development plan required by KRS 65.7051(1);\n(h) Approval of any agreements relating to the development area, including any\nlocal participation agreements;\n(i) A provision establishing a special fund for the development area or any\nproject within the development area;\n(j) A requirement that any entity other than the governing body that receives\nfinancial assistance under the development area ordinance, whether in the\nform of a grant, loan, or loan guarantee, shall make periodic accounting to the\ngoverning body;\n(k) A provision for periodic analysis and review by the governing body of the\ndevelopment activity in the development area, a review of the progress in\nmeeting the stated goals of the development area, and a requirement that the\nreview and analysis be forwarded to the authority if the development activity\nincludes projects subject to a tax incentive agreement;\n(l) Designation of the agency or agencies responsible for oversight,\nadministration, and implementation of the development ordinance; and\n(m) Any other provisions, findings, limitations, rules, or procedures regarding the\nproposed development area or a project within the development area and its\nestablishment or maintenance deemed necessary by the city or county.\n(2) An ordinance establishing a development area may designate an existing agency to\noversee and administer implementation of a development area ordinance or a\nportion thereof.\n(3) Unless the ordinance establishing a development area requires an earlier date, a\ndevelopment area shall cease to exist on the termination date.","path":["KRS Chapter 65"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=39760","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:49:22Z","sha256":"ba414ba8f6d853c0a1983f41a8f56ddb06cd77b46501a3d09c1e892600e9c133","source_id":"us-ky","stale":false,"prev":"us-ky/krs-65.7051","next":"us-ky/krs-65.7055"},"notice":"GroundRules: Original legal text. Not legal advice."}