418 KAR 1:050. Procedures for acquisition of land.

      RELATES TO: KRS 146.550-146.570

      STATUTORY AUTHORITY: KRS 146.560(2), 146.565

      NECESSITY, FUNCTION, AND CONFORMITY: KRS 146.560(2) directs the board to promulgate administrative regulations, in accordance with the provisions of KRS Chapter 13A, on acquisition. This administrative regulation governs the acquisition of land purchased, in whole or in part, with fund money.

      Section 1. An applicant shall attempt to acquire:

      (1) Land at a price below its fair market value; and

      (2) Available matching funds for the purchase of land from a public or private entity.

      Section 2. Transfer of Funds. An expenditure approved by the board shall be disbursed promptly by the Environmental and Public Protection Cabinet, if the recipient of fund money has entered into the written memorandum of agreement required by Section 5 of 401 KAR 1:030 or Section 3 of 401 KAR 1:040.

      Section 3. Deadline for Acquisition. The project site shall be acquired within two (2) years of board approval of the acquisition. An extension may be granted by the board upon receipt of a written request for extension.

      Section 4. Verification. (1) Within ninety (90) days of purchase, a recipient of fund money shall provide to the board, a certified copy of the deed of conveyance for land acquired.

      (2) The deed shall:

      (a) Indicate that it has been filed of record in the courthouse of the county where the real estate is located; and

      (b) Indicate the amount of consideration paid for the real estate, in accordance with KRS 45.450. (21 Ky.R. 2854; eff. 7-12-95; Am. 25 Ky.R. 2944; 26 Ky.R. 594; eff. 9-8-99; TAm eff. 8-9-2007.)