IMPROVEMENTS

§ 33.20 DEFINITIONS.

   For the purpose of this subchapter, the following definitions shall apply unless the context clearly indicates or requires a different meaning.

   ASSESSED VALUE BASIS. The apportionment of cost of an improvement according to the ratio the assessed value of individual parcels of property bears to the total assessed value of all such properties.

   BENEFITS RECEIVED BASIS. The apportionment of cost of an improvement according to equitable determination by the City Council of the special benefit received by property from the improvement, including assessed value basis, front foot basis and square foot basis, or any combination thereof, and may include consideration of assessed value of land only, graduation for different classes of property based on nature and extent of special benefits received and other factors affecting benefits received.

   COST. All costs related to an improvement, including planning, design, property or easement acquisition and construction costs, fiscal and legal fees, financing costs and publication expenses.

   FAIR BASIS. Assessed value basis, front foot basis, square foot basis or benefits received basis.

   FRONT FOOT BASIS. The apportionment of cost of an improvement according to the ratio the front footage on the improvement of individual parcels of property bears to such front footage of all such properties.

   IMPROVEMENT. Construction of any facility for public use or services or any addition thereto, which is of special benefit to specific properties in the area served by such facility.

   PROPERTY. Any real property benefited by an improvement.

   SPECIAL ASSESSMENT or ASSESSMENT. A special charge fixed on property to finance an improvement in whole or in part.

   SQUARE FOOT BASIS. The apportionment of cost of an improvement according to the ratio the square footage of individual parcels of property bears to the square footage of all such property.

(KRS 91A.210) (Prior Code, § 33.10)

§ 33.21 FINANCING OF IMPROVEMENTS.

   (A)   The city may not finance any improvement in whole or in part through special assessments except as provided in this subchapter and in any applicable statutes.

(KRS 91A.200)

   (B)   Cost of an improvement shall be apportioned equitably on a fair basis.

   (C)   The city may provide for lump sum or installment payment of assessments or for bond or other long-term financing, and for any improvement may afford property owners the option as to method of payment or financing.

(KRS 91A.220)

(Prior Code, § 33.11)