198A.020 Policy and purpose. - Kentucky Statutes

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198A.020 Policy and purpose. (1) The General Assembly hereby finds and declares that as a result of the spread of slum conditions and blight to formerly sound urban and rural neighborhoods and as
a result of actions involving highways, public facilities and urban renewal activities
there exists in the Commonwealth a serious shortage of decent, safe and sanitary
residential housing available at prices or rentals which can be afforded by persons
and families of lower and moderate income. This shortage is severe in certain urban
areas of the state, is especially critical in the rural areas, and is inimical to the
health, safety, welfare and prosperity of all residents of the Commonwealth and to
the sound growth of Kentucky communities. (2) The General Assembly hereby finds and declares further that private enterprise and investment have not been able to produce, without assistance, the needed
construction of decent, safe and sanitary residential housing at low prices or rentals
which persons and families of lower and moderate income can afford, or to achieve
the urgently needed rehabilitation of much of the present supply of residential
housing available for persons and families of lower and moderate income. It is
imperative that the supply of residential housing for persons and families of lower
and moderate income affected by the spread of slum conditions and blight and for
persons and families of lower and moderate income displaced by public actions or
natural disaster be increased; and that private enterprise and investment be
encouraged to sponsor, build and rehabilitate residential housing for such persons
and families, to help prevent the recurrence of slum conditions and blight and assist
in their permanent elimination throughout the Commonwealth. (3) The General Assembly hereby finds and declares further that the purposes of this chapter are to provide financing for development costs, land development and
residential housing construction, new or rehabilitated, for sale or rental to persons
and families of lower and moderate income. (4) The General Assembly hereby finds and declares further that in accomplishing this purpose, the Kentucky Housing Corporation shall be and constitute a de jure
municipal corporation and political subdivision of the Commonwealth of Kentucky
created for the performance of essential public functions and the serving of public
purposes in improving and promoting the health, welfare and prosperity of the
people of the Commonwealth of Kentucky by the production of residential housing. Effective: March 23, 1982
History: Amended 1982 Ky. Acts ch. 99, sec. 2, effective March 23, 1982. -- Amended 1978 Ky. Acts ch. 220, sec. 2, effective June 17, 1978. -- Created 1972 Ky. Acts
ch. 70, sec. 2.