{"data":{"id":"us-ky/krs-99.210","jurisdiction":"us-ky","citation":"KRS 99.210","heading":"Power of corporation to acquire real property -- City may condemn and","body":"convey to corporation -- Federal or state aid -- Alternate method of acquiring\nand conveying land.\n(1) A redevelopment corporation may, whether before or after the certificates of\napproval of its development plan required by KRS 99.040 to 99.060 have been\nissued, acquire real property or secure options in its own name or in the name of\nnominees to acquire real property, by gift, grant, lease, purchase or otherwise.\n(2) Such city may, upon request by a redevelopment corporation, and after a certificate\nof approval of condemnation with respect to the real property in question has been\nissued pursuant to KRS 99.220, acquire, or obligate itself to acquire, for such\nredevelopment corporatio n, any real property included in such certificate of\napproval of condemnation, by condemnation. Real property acquired by such city\nfor a redevelopment corporation shall be conveyed by such city to the\nredevelopment corporation upon payment to the city of all sums expended or\nrequired to be expended by the city in the acquisition of such real property.\n(3) In connection with the activities and projects of redevelopment corporations, the\ncity may apply for, receive, and accept grants -in-aid, gifts, credits, and all other aid\nand in all forms, whether similar to or dissimilar from those particularly\nenumerated, from the federal government, which embraces the United States of\nAmerica, its agencies and instrumentalities, or from the Commonwealth of\nKentucky, its  agencies and instrumentalities or from both, under such lawful\ncontracts, terms, and conditions, as may be agreed upon.\n(4) In order to further the accomplishment of the purposes of KRS 99.010 to 99.310,\nand in addition to the powers heretofore or which m ay hereafter be granted to it, the\ncity may, as an alternate method of acquiring by gift, purchase, or condemnation,\nand selling and transferring real property to a redevelopment corporation, by\nordinance or ordinances, proceed as follows:\n(a) From time to  time designate an area within such city as under consideration\nfor development under the provisions of KRS 99.010 to 99.310 and provide\nfor consultation with and aid from any and all city departments, commissions,\nofficers, employees, agencies, and instru mentalities, relating to the initiation\nof the project.\n(b) Apply for and receive gifts, grants, credits, and obtain loans for the\naccomplishment of each development or developments generally, and obligate\nsuch city to supervise the application of such fun ds for such purpose or\npurposes, and also accept gifts, grants, conveyances and leaseholds within\nsuch area or areas, and to provide funds, where necessary, to obtain gifts,\ngrants, credits or loans from the federal government, its agencies and\ninstrumentalities, or from the Commonwealth of Kentucky, its agencies and\ninstrumentalities, or from both or any other agency under such lawful\ncontracts, terms and conditions as may be agreed upon.\n(c) Appropriate funds acquired under paragraph (b) or by taxation fo r the\nacquisition of all or any part or parts of the property in each such area for\ndevelopment under KRS 99.010 to 99.310 by purchase and by condemnation,\nand for the clearance of all or any part or parts of the property owned by or\nthus acquired by such city. Such condemnation shall be under the provisions\nof KRS 99.010 to 99.310, but the city may waive request for condemnation or\ndeposit or obligation to furnish the funds, as set out in KRS 99.230.\n(d) Advertise for the submission of development plans fo r such designated area\nby a redevelopment corporation under the provisions of KRS 99.010 to\n99.310, application therefor to be accompanied by a bid for such lands and\nestates therein as the city owns or may obligate itself to purchase, or otherwise\nacquire and lease, sublease, sell, or convey to the redevelopment corporation,\nprovided a plan is submitted and is finally accepted and approved under the\nprovisions of KRS 99.010 to 99.310. If more than one (1) plan and bid is\nsubmitted for any one (1) project t hus advertised, then the plan and bid that\ntogether would prove most beneficial to the city in accomplishing the\npurposes of KRS 99.010 to 99.310 shall be submitted for approval under the\nterms of KRS 99.010 to 99.310, but the city may reject any and all\napplications, bids and plans. Said city shall be the sole judge as to which plan\nis the most beneficial. Such advertisement shall clearly describe the area under\nconsideration for development, the part or parts thereof owned by the city or\nwhich it will acq uire, and the estates in each parcel that is being offered for\nsale, the terms and conditions, and shall be published pursuant to KRS\nChapter 424.\n(e) The terms of the bid for such land or lands or leaseholds may be for all cash,\nor part cash and part on time, or all on time, with or without interest, and with\nor without lien retained. Any term of payment shall not be for a period\nexceeding five (5) years from date of completion of the project.\n(f) As a further inducement, the terms of the bid may provide f or a discount not\nexceeding ten percent (10%) a year on such bid for each year, not exceeding\nfive (5), in event the development during each such year is in accordance with\nthe development plan.","path":["KRS Chapter 99"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=26521","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:50:01Z","sha256":"f525eec2e4c6259d2e09da499515a8acca0315ebbd6915b0fd9d25e8794eeea4","source_id":"us-ky","stale":false,"prev":"us-ky/krs-99.200","next":"us-ky/krs-99.220"},"notice":"GroundRules: Original legal text. Not legal advice."}