(A) The Louisville and Jefferson County Landbank Authority, Inc. (“Landbank Authority”) was established as a nonprofit, nonstock corporation by an Interlocal Cooperation Agreement between the Louisville Metro Government, the Jefferson County Public School Board and the Commonwealth of Kentucky pursuant to the authority granted in KRS 65.350 to 65.375.
(B) Louisville Metro Government designates the Landbank Authority with the powers granted in KRS Ch. 99 to address and eradicate blighted and deteriorated properties in Louisville Metro.
(C) Per KRS 65.360, the Landbank Authority is governed by a three person board composed of one member appointed by the Louisville Metro Government, one member appointed by the Jefferson County Public School Board and one member appointed by the Commonwealth of Kentucky. The Louisville Metro member shall be appointed by the Mayor with the approval of the Metro Council.
(1999 Lou. Code, § 33.370) (Lou. Ord. No. 252-1988, approved 8-30-1988; Lou. Metro Am. Ord. No. 25-2003, approved 2-28-2003; Lou. Metro Am. Ord. No. 53-2017, approved 3-24-2017)