(A) The City Commission may institute eminent domain proceedings pursuant to KRS Chapter 416 against any property which has been certified as blighted and/or deteriorated by the Review Commission pursuant to this article, provided that, in addition, the City Commission 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) The City Commission may acquire by eminent domain pursuant to KRS Chapter 416, any property determined to be blighted or deteriorated pursuant to this article, and shall have the power to hold, clear, manage, develop or dispose of the property so acquired, for residential and related uses pursuant to the provisions of this article and KRS Chapter 99.
(Ord. 2009-07, passed 6-23-09)