(1) The General Assembly finds and declares that the establishment of development areas, local development areas, and projects which result in increased property values, increased employment opportunities, and increased economic activity in communities within the Commonwealth serves a public purpose. (2) The General Assembly further finds and declares that the authority prescribed in KRS 65.7041 to 65.7083, and the purposes to be accomplished thereunder, are proper. (3) A city or county creating or expanding a development area or local development area, shall, to the greatest extent it determines to be reasonably feasible in carrying out the provisions of KRS 65.7041 to 65.7083, afford maximum opportunity for the rehabilitation, development, renovation, or impro vement of a development area or local development area by private enterprise.
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