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ORDINANCE NO. 83-12-2457
AN ORDINANCE ESTABLISHING PROPERTY ASSESSMENT AND REASSESSMENT MORATORIUMS, LIMITING
SAME TO F-IVE.YEARS AND NAMING ADMINISTERING AGENCIES
WHEREAS, KRS Chapter 99 and KRS Chapter 132 permit local governments to establish
property assessment and reassessment moratoriums; and
WHEREAS, the City of Paducah wishes to take advantage of the provisions of the new
to encourage the repair, rehabilitation, restoration or stabilization of existing real property
in designated historic districts.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY OF PADUCAH AS FOLLOWS:
SECTION 1. That Section 29-11 be created to read as follows:
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"Sec. 29-11. There is hereby established a program for the granting of property
assessment or reassessment moratoriums for qualifying units of real property located in the
designated historic districts as defined belows:
1. Downtown -Commercial District as listed on the National Register of Historic Places
by the United States Department of the Interior.
2. Lower Town Residential District designated by the City of Paducah under its
historic zoning (H-2) ordinance.
3. The Jefferson Street -Fountain Avenue Residential District as listed on the Nationa
Register of Historic Places by the United States Department of the Interior.
To be eligible, a residential building in the districts must have been in existence foi
twenty-five (25) years and must be used to provide independent living facilities for one (1) orl
more persons.
For a commercial building to qualify in the districts, it must be twenty-five (25)
years or older and must have as its primary purpose and use the operation of a commercial
business enterprise".
SECTION 2. That Section 29-12 be created to read as follows:
"Sec. 29-12. The administering agency for this moratorium program shall be the
Historical and Architectural Review Commission for the City of Paducah".
SECTION 3. That Section 29-13 be created to read as follows:
"Sec. 29-13. All moratoriums shall be for a period of five (5) years, and each shall
become effective on the assessment date next following the issuance of the moratorium
certificate".
SECTION 4. That Section 29-14 be created to read as follows:
"Sec. 29-14. Applications shall be made to the administering agency for a property
assessment or reassessment moratorium certificate as follows:
1. The application shall be on a form prescribed by the Kentucky Department of
and shall be filed in the manner prescribed by the administering agency.
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2. The application shall be filed with the administering agency thirty (30) days
before commencing the restoration.
3. The application shall contain the following:
(a) A general description of the property;
(b) A general description of its proposed use;
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(c) The general nature and extent of restoration, repair,
rehabilitation or stabilization to be undertaken;
(d) A time schedule for undertaking and completing the project;
(e) If the property is a commercial facility, the application
shall also contain a descriptive list of the fixed building
equipment which will be a part of the facility and a state-
ment of the economic advantages expected from the moratorium,
including expected construction employment".
SECTION 5. That Section 29-15 be created to read as follows:
"Sec. 29-15. The Property Valuation Administrator (PVA) and the
administering agency shall maintain a record of all applications for a property
assessment or reassessment moratorium. The PVA shall assess or reassess the
property within thirty (30) days of receipt of the application. This assessment
shall be the value for which taxes are not to be raised for five (5) years".
SECTION 6. That Section 29-16 be created to read as follows:
"Sec. 29-16. The applicant shall have two (2) years in which to
complete the improvements unless granted an extension by the administering
agency. In no case shall the application be extended beyond two (2) additional
years. This provision shall not preclude normal reassessment of the property".
SECTION 7. That Section 29-17 be created to read as follows:
"Sec. 29-17. Any application not acted upon by the applicant shall
become void two (2) years from the date of application and shall be purged from
the files of the Property Valuation Administrator and the administering agency".
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SECTION 8. That Section 29-18 be created to read as follows:
"Sec. 29-18. On the assessment date next following the expiration,
cancellation or revocation of an assessment or reassessment moratorium, property
shall be assessed on the basis of its full fair cash value".
SECTION 9. That Section 29-19 be created to read as follows:
"Sec. 29-19. The applicant shall notify the administering agency when
the project is complete, and the administering agency shall then conduct an
on-site inspection of the property for purposes of verifying improvements. If
all conditions of this ordinance and Kentucky Revised Statutes are complied with
the administering agency shall issue a moratorium certificate. Only after the
project is complete and the improvements verified shall the moratorium certi-
ficate be issued by the administering agency".
SECTION 10. That Section 29-20 be created to read as follows:
"Sec. 29-20. An assessment or reassessment moratorium certificate may
be transferred or assigned by the holder of the certificate to a new owner or
lessee of the property".
SECTION 11. That Section 29-21 be created to read as follows:
"Sec. 29-21. Any property granted an assessment or reassessment
moratorium may be eligible for a subsequent moratorium certification provided
that reapplication be made no sooner than three (3) years following the expi-
ration of the original moratorium".
SECTION 12. That Section 29-22 be created to read as follows:
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"Sec. 29-22. Definitions for interpreting this ordinance shall be those outlined in
Chapter 99 relating to property assessment and reassessment moratoriums".
SECTION 13. This ordinance shall be read on two separate days and will be effective
upon publication of title and a certified summary thereof.
JOHN K. PENROD
Mayor
Introduced by the Board of Commissioners December 13, 1983
-•-,Passed by the Board of- Commissioners December 27, 1983
Recorded by Louise McKinney, City Clerk, December 27, 1983
Published by The Paducah Sun