As required by law, applications for a moratorium certificate are taken at the IPL office. Applications for a moratorium certificate must be made at least 30 days before any construction work on the property is begun. The 30-day time frame allows the PVA to inspect and value the property in its ‘as-is’ condition. Each application for a moratorium includes:
1. A general description of the property.
2. Proof the property is at least 25 years old.
3. A general description of the proposed use of the property.
4. The nature and extent of the restoration, repair, rehabilitation or stabilization and cost estimates based on bids submitted to the owner.
5. If the building is on the National Register of Historic Places, is on the survey of Historic Sites in Kentucky, is in a Preservation District or is designated a landmark, a certificate of approval from the Historic Landmarks Preservation Districts Commission, showing compliance with the Commission’s standards, must accompany the application.
6. A time schedule for undertaking and completing the project.
7. If the property is commercial, a descriptive list of the fixed building equipment, which will be part of the facility and a statement of the economic advantage, (including expected construction employment) shall be part of the application.
An application fee of $45.00 will be charged the applicant applying for a moratorium certificate. The PVA and IPL will maintain a record of all applications for a property assessment or reassessment moratorium. An applicant has two years to complete the improvements unless granted an extension by IPL. In no case shall the application be extended beyond two additional years. An application for a moratorium not acted upon by the applicant shall expire and become void two years from the date of application.