80.140 Authority may acquire land and housing stock.
94 words·~1 min read·
/ky/chapter-80/80-140A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1)An authority may acquire by gift, devise, bequest, lease, grant, or purchase lands,
structures, or interests in land necessary for the building of housing, upon terms,
prices, or considerations considered reasonable by the authority and agreed upon
between the authority and the owner. Title to all property acquired by the authority
shall be taken in the corporate name of the authority.
(2)An authority may acquire by gift, devise, bequest, lease, grant, or purchase an
interest in, by means of a partnership, joint venture, or other co-ownership
arrangement, low-income and moderate-income housing stock.