Resolution 2006-37 - Laserfiche WebLink

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5.0 Project Implementation The Act allows for a wide range of activities to be used in the implementation of an urban renewal area. It is the intent of the Commission to provide incentives to stimulate private investment in cooperation with property owners and other affected parties in order to accomplish the objectives of the Plan. Public-private partnerships and other forms of cooperative development will be key to the Commission's strategy for preventing the spread of blight and eliminating the blighting conditions. Reliance on powers such as eminent domain will only be considered as a final option as determined by the Louisville City Council, to achieve the redevelopment objectives of this plan. 5.1 Property Acquisition and Land Assemblage The Commission through purchase or eminent domain or by any method authorized by the Act and the Urban Renewal Plan may acquire property. Any proposal to acquire property under the power of eminent domain must first be approved by the affirmative vote of two-thirds of the entire Louisville City Council. The Commission may temporarily operate, manage and maintain property acquired in the Urban Renewal Area. Such property shall be under the management and control of the Commission and may be rented or leased pending its disposition for redevelopment. 5.2 Relocation Assistance It is not anticipated that acquisition of real property by the Commission will result in the relocation of any individuals, families, or business concerns. However, if such relocation becomes necessary, the Commission shall adopt a relocation plan in conformance with the Act and consistent with specific objectives which will be identified in that plan. The Commission shall adopt its relocation plan(s) before any individuals, families or business concerns are relocated. The Commission shall solicit public comment on any relocation plan prior to its adoption. G:\ COUNClL \Agreements\2006\Hwy 42 Urban Renewal Plan Final.doc 24