99.300 Certificates of completion -- Sale or mortgage of completed development.

293 words·~1 min read·/ky/chapter-99/99-300

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(1)It shall be the duty of the supervising agency, upon any request from a

redevelopment corporation, to determine whether the redevelopment of any unit or

units in the development area has been achieved, and if the supervising agency finds

that such redevelopment has been finished and achieved it shall issue to the

redevelopment corporation a certificate of completion showing that the

redevelopment of such parcel or parcels has or have been completed, describing

such unit or units.

(2)It shall be the duty of the supervising agency, upon request from a redevelopment

corporation, to determine whether the redevelopment of the development area has

been achieved, and if the supervising agency finds that such redevelopment has

been finished and achieved it shall issue to the redevelopment corporation a

certificate of completion showing that the redevelopment of such area has been

completed. No such determination or finding shall affect any unit or units for which

certificates of completion have been issued under subsection

(1)of this section.

(3)Such redevelopment property or unit thereof, may be sold or mortgaged, provided,

however, that such sale or mortgage shall be authorized as herein provided and such

property shall, after such sale or mortgage, be used for the general purposes of KRS

99.010 to 99.310 and maintained in accordance with the standards provided therefor

by the planning commission of such city in the original certificate of approval

issued for such redevelopment under and pursuant to the provisions of KRS 99.040

to 99.060.

(4)Such certificate or certificates of completion shall be conclusive evidence, upon

which any one

(1)dealing with such property may rely, that the redevelopment of

the property therein described has been fully completed in conformity with KRS

99.010 to 99.310 and the development plan.