306 KAR 1:090. Geographic neighborhood area.

      RELATES TO: KRS 154.700

      STATUTORY AUTHORITY: KRS 154.680(4)

      NECESSITY, FUNCTION, AND CONFORMITY: This administrative regulation is being amended to comply with the deficiencies found during quadrennial review by the Task Force on Economic Development. This administrative regulation sets forth the standards and policies to which the Neighborhood Enterprise Association Corporation (hereinafter referred to as the corporation) must conform.

      Section 1. Geographic Neighborhood Area. (1) The area in which each corporation is formed shall be defined by the incorporating residents and shall be confined to the zone area or an area within the zone.

      (2) The incorporating residents shall be those persons residing in the neighborhood area that undertake to form and organize the corporation. There may be more than one (1) geographic neighborhood area within the enterprise zone.

      Section 2. Incorporation of the Corporation. To incorporate, the residents must comply with the provisions of KRS Chapters 271B and 273.

      Section 3. Certification of the Corporation. (1) To obtain certification the corporation must make application to the local legislative body of appropriate jurisdiction. the local legislative body shall prescribe the guidelines for procedure. The local legislative body upon certification, must apply to the authority for certification of the corporation. The authority shall grant certification if the corporation has complied with the requirements of the act and other administrative regulations adopted by the authority.

      (2) Upon granting certifications, the authority shall place the corporation's charter and bylaws in a file which shall be available to the public for general inspection. This file shall be in addition to the file maintained by the Secretary of State.

      (3) To obtain certification the corporation must be a nonprofit corporation and registered with the Secretary of State's Office.

      Section 4. Relationship Between the Corporation and State and Local Governments. (1) The property in the neighborhood area of a certified corporation which is owned by the state or local government shall be leased to the corporation unless it is in current use or subject to plans or development by the local government.

      (2) The corporation and the local governing authority shall maintain a relationship in which one is accountable to the other for enforcement of any and all standards or services exchanged or provided. (9 Ky.R. 752; eff. 1-6-83; Am. 18 Ky.R. 2881; eff. 4-14-92.)