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65.7043 Purposes of KRS 65.7041 to 65.7083.

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Page 1 of 1 65.7043 Purposes of KRS 65.7041 to 65.7083. The purposes of KRS 65.7041 to 65.7083 are as follows: <br>(1) KRS 65.7047 provides authority for cities and counties to establish local development areas for the development of previously undeveloped land within their <br>jurisdictional boundaries and to devote local resources to support the development <br>of projects in those local development areas. Local development areas established <br>under KRS 65.7047 and projects within local development areas shall not be <br>eligible for participation by the Commonwealth; and (2) (a) KRS 65.7049, 65.7051, and 65.7053 provide a framework for cities and counties: <br>1. To establish development areas for: <br>a. The redevelopment of previously developed land within their <br>jurisdictional boundaries; and b. The development of previously undeveloped land, if the project <br>proposed for the development area includes an arena as part of the <br>proposed development; and 2. To devote local resources to providing redevelopment assistance and <br>supporting projects in those development areas. (b) Projects within development areas established pursuant to KRS 65.7049, 65.7051, and 65.7053 shall be eligible for participation by the Commonwealth <br>if such projects meet the requirements for Commonwealth participation <br>established by Subchapter 30 of KRS Chapter 154. Effective: June 26, 2009 <br>History: Amended 2009 (1st Extra. Sess.) Ky. Acts ch. 1, sec. 56, effective June 26, 2009. -- Amended 2008 Ky. Acts ch. 178, sec. 1, effective July 15, 2008. -- Created <br>2007 Ky. Acts ch. 95, sec. 2, effective March 23, 2007.