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99.060 Conditions of approval of plan by supervising agency.

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99.060 Conditions of approval of plan by supervising agency. (1) A supervising agency may approve a development plan, but no certificate of approval thereof shall be issued by it unless and until the planning commission shall <br>first have approved thereof and there has been filed with the supervising agency the <br>development plan, the certificate of approval by the planning commission and an <br>application for approval by the supervising agency, and unless and until the <br>supervising agency shall find: <br>(a) That the proposed method of financing the development is feasible and that it is probable that the redevelopment corporation will be able to finance or <br>arrange to finance the development; and (b) That the persons who it is proposed will be active in or associated with the management of the redevelopment corporation during a period of at least one <br>(1) year from the date of the approval of the development plan have sufficient <br>ability and experience to cause the development to be undertaken, <br>consummated and managed in a satisfactory manner. (2) Any such determination shall be conclusive evidence of the facts so determined except upon proof of fraud or willful misfeasance. In considering whether or not a <br>certificate of approval of the development plan shall be issued, the supervising <br>agency shall consider only those elements of the development plan relevant to such <br>determination under paragraphs (a) and (b) of subsection (1) of this section. Upon <br>approval of a development plan by the supervising agency, it shall forthwith issue a <br>certificate of approval thereof. Effective: June 2, 1942 <br>History: Created 1942 Ky. Acts ch. 36, sec. 3.