(A) Any owner or lessee of an existing residential building, and any owner or lessee of a commercial facility, or any owner or lessee of a combined commercial/residential building, who plans to restore, repair, rehabilitate or stabilize their property with a minimum expenditure equal to 25% of the assessed value of said property, may make an application to the County Planning Department for a property assessment or reassessment moratorium certificate.
(B) Application so made to the administering agency for a property assessment or reassessment moratorium certificate shall be made as follows.
(1) The application shall be on a form prescribed by the County Planning Department and Kentucky Revenue Cabinet, and shall be filed in the manner prescribed by the Sheriff’s office.
(2) The application shall contain the following:
(a) A general description of the property including proof of age;
(b) A general description of its proposed use;
(c) A description of the nature and extent of restoration, repair, rehabilitation or stabilization to be undertaken, to include detailed drawings showing the planned work to be done and an estimate of the total project expenditure. Documentation of all expenses incurred must be provided to the administering agency upon project completion;
(d) A time schedule for undertaking and completing the project;
(e) If the property is a commercial facility, the application shaft also contain a descriptive list of the fixed building equipment which will be a part of the facility and a statement of the economic advantages expected from the moratorium, including expected construction employment; and
(f) Other information as determined necessary by the administering agencies.
(Ord. 12-2016, passed 6-24-2016)