{"data":{"id":"us-ky/krs-80.020","jurisdiction":"us-ky","citation":"KRS 80.020","heading":"Housing developments and authorities -- Purposes -- Powers.","body":"(1) Cities of all classes may acquire, establish, and operate, within their limits, housing,\nunder the provisions of this chapter, for the purpose of providing adequate and\nsanitary living quarters for individuals or families, such housing to be for\nindividuals or families with low or moderate income or for individuals or families\nhaving income in excess of low or moderate if such housing is acquired, established\nand operated in conjunction with, and located within one (1) mile of housing for\nindividuals or families with low or moderate income. They may create city housing\nauthorities, and they and the authorities created by them shall have all powers\nnecessary and appropriate to engage in such housing and slum clearance projects,\nincluding, without limitation, all power specified in KRS 80.500 and the power in\nconnection with the use of federal funds, with the approval of the federal funding\nagency, if applicable, to mortgage, encumber, pledge, assign, or otherwise grant or\nconsent to a lien or security interest  in, any real or personal property, or any interest\ntherein, owned or held by the authority, to provide security for:\n(a) The repayment of borrowed funds;\n(b) Any guarantee of this repayment or any other performance of the authority or;\n(c) Any payment or guarantee of performance of any subsidiary or affiliate of the\nauthority, or of any business arrangement into which the authority shall have\nentered in furtherance of the purposes of this chapter.\nThe conditions of any mortgage or other instrument grantin g or consenting to a\nsecurity interest in property of a local housing authority may include any provisions\nthat are customary in mortgages and other security interests used in commercial\ntransactions.\n(2) Housing authorities may engage in the maintenance a nd enhancement of adequate\nhousing stock for low -income and moderate -income persons as set forth in this\nchapter.\n(3) Housing authorities may loan moneys on the terms they deem advisable, subject to\nthe approval of the United States Department of Housing a nd Urban Development,\nif that agency's funds are used, to other governments or their agencies or to other\nowners of housing or of housing to be constructed or reconstructed, if the authority\ndetermines that the loans will result in the creation of housing.\n(4) Housing authorities may lease or convey real property to other governments or\nagencies thereof or to nongovernmental owners or developers of housing for a\nconsideration less than fair market value, if the housing authority determines that\nthe action facilitates housing.","path":["KRS Chapter 80"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=24810","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:49:40Z","sha256":"963e2274548e89dc920e8d5636929aacda9b81a854ec83cada612165ef871f95","source_id":"us-ky","stale":false,"prev":"us-ky/krs-80.010","next":"us-ky/krs-80.030"},"notice":"GroundRules: Original legal text. Not legal advice."}