KRS § 99.010 — KY Code / Title IX / Chapter 99 / Section 99.010
99.010 Definitions for KRS 99.010 to 99.310
Status: in_force

99.010 Definitions for KRS 99.010 to 99.310.

(1) The following terms, whenever used or referred to in KRS 99.010 to 99.310 shall,

unless a different intent clearly appears from the context, be construed as follows:

(a) "Area" means a portion of a city which a planning commission has found or

shall find to be substandard or insanitary, so that the clearance, replanning,

rehabilitation, or reconstruction thereof is necessary or advisable to effectuate

the public purposes declared in KRS 99.020. An area may include any

buildings or improvements not in themselves substandard or insanitary, and

any real property, whether improved or unimproved, the inclusion of which is

deemed necessary for the effective clearance, replanning, reconstruction, or

rehabilitation of the area of which such buildings, improvements, or real

property form a part;

(b) "City" means and is deemed to relate to any city of the first class, a city with a

population of fifteen thousand (15,000) or more based upon the most recent

federal decennial census, or urban-county government in the Commonwealth

of Kentucky;

(c) "Development" means a specific work, repair, or improvement to put into

effect a development plan. The term includes the real property, buildings, and

improvements owned, constructed, managed, or operated by a redevelopment

corporation;

(d) "Development area" means that portion of an area to which a development

plan is applicable;

(e) "Development cost" means the amount determined by the supervising agency

to be the actual cost of the development, or of the part thereof for which such

determination is made, and includes, among other costs, the reasonable costs

of planning the development, including preliminary studies and surveys,

neighborhood planning, and architectural and engineering services, the

reasonable value of the services performed by or for the incorporators of a

redevelopment corporation in connection with the development plan prior to

the time when the redevelopment corporation was incorporated or became a

redevelopment corporation, fees for acquisition costs, the costs of financing

the development, including carrying charges during construction, working

capital in an amount not exceeding five percent (5%) of development cost, the

actual cost of real property or any part thereof where acquired partly or wholly

in exchange for securities, then, an amount which shall be approved by the

supervising agency as being equal to the reasonable value of the real property

acquired therefor, the actual cost of demolition of existing structures, the

actual cost of utilities, landscaping, and roadways, the actual cost of

construction, equipment, and furnishing of buildings and improvements,

including architectural, engineering and builder's fees, the actual cost of

reconstruction, rehabilitation, remodeling, or initial repair of existing

buildings and improvements, reasonable management, and operation costs

until the development is ready for use, and the actual cost of improving that

portion of the development area which is to remain as open space, together

with such additions to development cost as shall equal the actual cost of

additions to or changes in the development in accordance with the original

development plan or after approved changes in or amendments thereto;

(f) "Development plan" means a plan for the redevelopment of all or any part of

an area, and includes any amendments thereto approved in accordance with

the requirements of KRS 99.070;

(g) "Local legislative body" means the board of aldermen or other board or body

vested by the charter of the city or other law with jurisdiction to adopt or enact

ordinances or local laws;

(h) "Mortgage" means a mortgage, trust indenture, deed of trust, building and loan

contract, or other instrument creating a lien on real property, and the

indebtedness secured by each of them;

(i) "Neighborhood unit" means a primarily residential district having the facilities

necessary for well-rounded family living, such as schools, parks, playgrounds,

parking areas, and local shopping districts;

(j) "Planning commission" means the official bureau, board, planning and zoning

or other commission, or agency of the city or city and county authorized to

prepare, adopt, and amend or modify plans for the development and

improvement of the city generally;

(k) "Supervising agency" means the director of finance or such other person or

city agency as may be authorized by the local legislative body under KRS

99.090;

(l) "Real property" includes lands, buildings, improvements, land under water,

waterfront property, and any and all easements, franchises, and hereditaments,

corporeal or incorporeal, and every estate, interest, privilege, easement,

franchise, and right therein, or appurtenant thereto, legal or equitable,

including rights-of-way, terms for years and liens, charges, or encumbrances

by mortgage, judgment, or otherwise;

(m) "Redevelopment" means the clearance, replanning, reconstruction, or

rehabilitation of a substandard or insanitary area, and the provision of such

industrial, commercial, residential, or public structures and spaces as may be

appropriate, including recreational and other facilities incidental or

appurtenant thereto;

(n) "Redevelopment corporation" means a corporation organized pursuant to the

corporation laws of the Commonwealth of Kentucky whose articles of

incorporation shall comply with the requirements of KRS 99.100 to 99.130;

and

(o) "State" means the Commonwealth of Kentucky.

(2) "Owner" as used in KRS 99.220 to 99.240, includes a person having an estate,

interest, or easement in the real property to be acquired or a lien, charge, or

encumbrance thereon.