(A) The city is planning to create the Dixie Highway-Kyles Lane Development Area (the “Development Area”) pursuant to the provisions of KRS 65.7041 to 65.7083 (the “Act”).
(B) Under the Act, the city may designate an agency responsible for the oversight, administration and implementation of the Development Area.
(C) The city has determined it is best to establish a separate non-profit corporation to act as its agency for the oversight, administration and implementation of the Development Area, and other development areas or local development areas the city may establish under the Act; and for other purposes designed by the city to promote economic development within the city.
(D) Pursuant to the provisions of KRS Chapters 58 and 273, the city may create a non-profit corporation to act as the agency, instrumentality and constituted authority of the city for the financing of public projects on behalf of the city, and for other purposes as may be designated by the city.
(Ord. 18-13, passed 12-18-13)