{"data":{"id":"us-ky/krs-99.450","jurisdiction":"us-ky","citation":"KRS 99.450","heading":"Disposal of property in development area.","body":"The agency may sell, exchange, lease, or otherwise transfer real property acquired under\nthe provisions of KRS 99.330 to 99.510 to one or more private individuals or to public\nbodies, and thereafter the real property shall be used only in accordance with t he\nlimitations and conditions set forth in the development plan, or the development plan as\nmodified under KRS 99.330 to 99.510. Maximum opportunity, consistent with the sound\nneeds of the locality, shall be given private enterprise in the redevelopment of\ndevelopment areas. The agency shall sell, lease, exchange, or withhold for public use by\nthe state or any public body thereof, all of the property which it has acquired in such\ndevelopment area as soon as feasible and in the public interest. Prior to any such sale or\nexchange of real property, the agency shall obtain appraisals made by independent\nappraisers of the value of such real property proposed to be sold or exchanged, which\nappraisals shall be based upon the new uses established for such real prope rty. These\nappraisals shall be used as a guide for the agency in disposing of its real property, but the\nagency shall not be bound thereby.","path":["KRS Chapter 99"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=26545","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:50:01Z","sha256":"de569257d8aaaf6d6540e69d14919bf2042ca01b6eaf7a75717164718be919ba","source_id":"us-ky","stale":false,"prev":"us-ky/krs-99.440","next":"us-ky/krs-99.460"},"notice":"GroundRules: Original legal text. Not legal advice."}