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99.020 Declaration of necessity for and purpose of KRS 99.010 to 99.310.

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99.020 Declaration of necessity for and purpose of KRS 99.010 to 99.310. It is hereby declared that in cities of the first and second class substandard and insanitary <br>areas exist which have resulted from inadequate planning, excessive land coverage, lack <br>of proper light, air, and open space, defective design and arrangement of buildings, lack <br>of proper sanitary facilities, and the existence of buildings which, by reason of age, <br>obsolescence, inadequate or outmoded design, or physical deterioration, have become <br>economic or social liabilities, or both; that such conditions are prevalent in areas where <br>substandard, insanitary, outworn or outmoded industrial, commercial or residential <br>buildings prevail, and are conducive to ill health, transmission of disease, infant <br>mortality, juvenile delinquency, crime and poverty; that such conditions impair the <br>economic value of large areas, infecting them with economic blight and that such areas <br>are characterized by depreciated values, impaired investments, and reduced capacity to <br>pay taxes; that such conditions are chiefly in areas which are so subdivided into small <br>parcels in divided ownerships and frequently with defective titles, that their assembly for <br>purposes of clearance, replanning, rehabilitation and reconstruction is difficult and costly; <br>that the existence of such conditions and the failure to clear, replan, rehabilitate or <br>reconstruct these areas result in a loss of population by the areas and further deterioration, <br>accompanied by added costs to the communities for creation of new public facilities and <br>services elsewhere; that it is difficult and uneconomic for individual owners <br>independently to undertake to remedy such conditions; that it is desirable to encourage <br>owners of property or holders of claims thereon in such areas to join together, with or <br>without other persons, or other persons to join together, in corporate groups, for the <br>purpose of the clearance, replanning, rehabilitation and reconstruction of such areas by <br>joint action; that it is necessary to create, with proper safeguards, inducements and <br>opportunities for the employment of private investment and equity capital in the <br>clearance, replanning, rehabilitation and reconstruction of such areas; that such conditions <br>require the employment of such capital on an investment rather than a speculative basis, <br>allowing, however, the widest latitude in the amortization of any indebtedness created <br>thereby; that such conditions further require the acquisition at fair prices of adequate <br>areas, the gradual clearance of such areas through demolition of existing obsolete, <br>inadequate, unsafe and insanitary buildings and the redevelopment of such areas under <br>proper supervision with appropriate planning, land use and construction policies; that the <br>clearance, replanning, rehabilitation and reconstruction of such areas on a large scale <br>basis are necessary for the public welfare; that the clearance, replanning, reconstruction <br>and rehabilitation of such areas are public uses and purposes for which private property <br>may be acquired; that such substandard and insanitary areas constitute a menace to the <br>health, safety, morals, welfare and reasonable comfort of the citizens of such cities and <br>the state; that such conditions require the creation of the agencies, instrumentalities and <br>corporations hereinafter described, for the purpose of attaining the ends herein recited; <br>that the protection and promotion of the health, safety, morals, welfare and reasonable <br>comfort of the citizens of such cities and the state are matters of public concern; and the <br>necessity in the public interest for the provisions hereinafter enacted is hereby declared as <br>a matter of legislative determination. Effective: June 14, 1968 History: Amended 1968 Ky. Acts ch. 152, sec. 83. -- Created 1942 Ky. Acts ch. 36, sec. 1.