(A) Metro Government may institute eminent domain proceedings pursuant to KRS Ch. 416 against any property which has been certified as blighted or deteriorated by the Landbank Authority, if, in addition, the Metro Council finds:
(1) That such property has deteriorated to such an extent as to constitute a serious and growing menace to the public health, safety, and welfare;
(2) That such property is likely to continue to deteriorate unless corrected;
(3) That the continued deterioration of such property may contribute to the blighting or deterioration of the area immediately surrounding the property; and
(4) That the owner of such property has failed to correct the deterioration of the property.
(B) Metro Government may acquire by eminent domain pursuant to KRS Ch. 416, any property determined to be blighted or deteriorated pursuant to this subchapter, and shall have the power to hold, clear, manage, develop or dispose of property so acquired, pursuant to the provisions of this subchapter and KRS Ch. 99. The Metro Council does hereby delegate the power to hold, clear, manage, or dispose of property so acquired to the Landbank Authority.
(Lou. Metro Ord. No. 53-2017, approved 3-24-2017)