{"data":{"id":"us-ky/krs-99.020","jurisdiction":"us-ky","citation":"KRS 99.020","heading":"Declaration of necessity for and purpose of KRS 99.010 to 99.310.","body":"It is hereby declared that in cities, as defined in KRS 99.010, that substandard and\ninsanitary areas exist which have resulted from inadequate planning, excessive land\ncoverage, lack of proper light, air, and open space, defective design and arrangement o f\nbuildings, lack of proper sanitary facilities, and the existence of buildings which, by\nreason of age, obsolescence, inadequate or outmoded design, or physical deterioration,\nhave become economic or social liabilities, or both; that such conditions are p revalent in\nareas where substandard, insanitary, outworn, or outmoded industrial, commercial, or\nresidential buildings prevail, and are conducive to ill health, transmission of disease,\ninfant mortality, juvenile delinquency, crime, and poverty; that such conditions impair the\neconomic value of large areas, infecting them with economic blight and that such areas\nare characterized by depreciated values, impaired investments, and reduced capacity to\npay taxes; that such conditions are chiefly in areas which a re so subdivided into small\nparcels in divided ownerships and frequently with defective titles, that their assembly for\npurposes of clearance, replanning, rehabilitation, and reconstruction is difficult and\ncostly; that the existence of such conditions and the failure to clear, replan, rehabilitate, or\nreconstruct these areas result in a loss of population by the areas and further deterioration,\naccompanied by added costs to the communities for creation of new public facilities and\nservices elsewhere; that it is difficult and uneconomic for individual owners\nindependently to undertake to remedy such conditions; that it is desirable to encourage\nowners of property or holders of claims thereon in such areas to join together, with or\nwithout other persons, or o ther persons to join together, in corporate groups, for the\npurpose of the clearance, replanning, rehabilitation, and reconstruction of such areas by\njoint action; that it is necessary to create, with proper safeguards, inducements, and\nopportunities for t he employment of private investment and equity capital in the\nclearance, replanning, rehabilitation, and reconstruction of such areas; that such\nconditions require the employment of such capital on an investment rather than a\nspeculative basis, allowing, h owever, the widest latitude in the amortization of any\nindebtedness created thereby; that such conditions further require the acquisition at fair\nprices of adequate areas, the gradual clearance of such areas through demolition of\nexisting obsolete, inadequ ate, unsafe, and insanitary buildings and the redevelopment of\nsuch areas under proper supervision with appropriate planning, land use, and construction\npolicies; that the clearance, replanning, rehabilitation, and reconstruction of such areas on\na large s cale basis are necessary for the public welfare; that the clearance, replanning,\nreconstruction, and rehabilitation of such areas are public uses and purposes for which\nprivate property may be acquired; that such substandard and insanitary areas constitute  a\nmenace to the health, safety, morals, welfare, and reasonable comfort of the citizens of\nsuch cities and the state; that such conditions require the creation of the agencies,\ninstrumentalities, and corporations hereinafter described, for the purpose of attaining the\nends herein recited; that the protection and promotion of the health, safety, morals,\nwelfare, and reasonable comfort of the citizens of such cities and the state are matters of\npublic concern; and the necessity in the public interest for the  provisions hereinafter\nenacted is hereby declared as a matter of legislative determination.","path":["KRS Chapter 99"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=43771","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:50:01Z","sha256":"c3458c8dca91e62100b9de28508027f80d2de789151204841963bc2caa43085c","source_id":"us-ky","stale":false,"prev":"us-ky/krs-99.010","next":"us-ky/krs-99.030"},"notice":"GroundRules: Original legal text. Not legal advice."}