99A.020 Ordinance establishing neighborhood redevelopment zone. (1) Any local government may by ordinance establish one (1) or more neighborhood redevelopment zones. Such zones shall be substantially residential in character and shall consist chiefly of residential buildings at least twenty-five (25) years of age. To be eligible for designation as a neighborhood redevelopment zone the area shall be found by the legislative body to be characterized by: (a) Deteriorating housing stock; (b) Abandoned residential buildings or vacant lots where the dwelling has been demolished by fire, vandalism or as an unsafe structure; (c) Such other characteristics which cause the legislative body of the local government to believe the neighborhood is in a deteriorating economic and physical condition; or (d) Such detrimental conditions that the effect is to discourage mortgagees from making loans for, and present or prospective property owners from investing in the purchase and rehabilitation of residential buildings. (2) The legislative body of the local government may establish a neighborhood redevelopment zone in accordance with subsection (1) of this section either on its own initiative or upon a petition filed with the clerk of the legislative body, signed by the owners or lessees of seventy-five percent (75%) of the assessed value of the property located within the proposed zone. (3) No zone shall be established by a local government unless certified by the executive director as qualifying pursuant to this chapter. (4) Prior to the first reading of an ordinance proposing to establish a neighborhood redevelopment zone, the legislative body shall give notice by mail to the last known owner of all real property within the proposed redevelopment zone and hold a public hearing on the question of establishment of the zone. The notice shall contain a description of the boundaries of the proposed zone and shall set out a date for a public hearing on the establishment of the zone at which any of the owners, their lessees or any other resident or taxpayer of the local government may appear. (5) Once established, a neighborhood redevelopment zone may be dissolved only by ordinance, but in no event sooner than ten (10) years from its establishment. (6) Upon the effective date of the ordinance establishing the zone all residential property located therein shall be subject to the provisions of this chapter. Effective: July 13, 1984 History: Created 1984 Ky. Acts ch. 174, sec. 3, effective July 13, 1984.