80.180 Authority to have full control of housing and housing stock. - Kentucky Statutes

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80.180 Authority to have full control of housing and housing stock. (1) The authority shall, itself, or through agreements with other public or private entities, operate, manage, and control housing, fix the rate of rentals, and establish
bylaws, rules, and regulations for the use and operation of the projects not
inconsistent with the provisions of this chapter. The legislative body of a city may
prescribe by ordinance penalties for the violation of bylaws, rules, and regulations
of a project located within the city. (2) The authority, itself, or through agreements with other public or private entities, may operate, manage and control housing stock not within the meaning of KRS
80.010(1) either in their entirety or in conjunction with other persons, whether
private or public, or whether through partnership agreements, joint venture
agreements and development agreements, limited liability company agreements, and
other agreements of that type with other persons, public or private, who may earn a
profit from the activities of that venture. Although public housing projects shall not
be constructed or operated for profit, or as a source of revenue, other activities
undertaken by an authority in conformance with this chapter to maintain or enhance
the adequacy of housing stock for low-income and moderate-income persons shall
not be subject to the limitation on construction or operation for profit, so long as
any profits or any other net revenues generated thereby are utilized, directly or
indirectly, in the furtherance of the maintenance and enhancement of housing. Effective: July 15, 1996
History: Amended 1996 Ky. Acts ch. 237, sec. 10, effective July 15, 1996. -- Amended 1984 Ky. Acts ch. 226, sec. 5, effective July 13, 1984; and ch. 361, sec. 10, effective
July 13, 1984. -- Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1,
1942, from Ky. Stat. sec. 927a-8, 2741x-8.