GENERAL ASSEMBLY OF NORTH CAROLINA

SESSION 2005

 

 

SESSION LAW 2006-211

SENATE BILL 1436

 

 

AN ACT TO ALLOW REGIONAL COUNCILS OF GOVERNMENT TO FINANCE REAL PROPERTY acquisitions and IMPROVEMENTS and to make revisions related to tax increment financing.

 

The General Assembly of North Carolina enacts:

 

SECTION 1.  G.S. 160A-475(7a) reads as rewritten:

"§ 160A-475.  Specific powers of council.

The charter may confer on the regional council any of the following powers:

(7a)     For the purpose of meeting the regional council's office space and program needs, to acquire real property by purchase, gift, or otherwise, and to improve that property. The regional council may pledge real property as security for indebtedness used to finance acquisition of that

property or for improvements to that real property, subject to approval by the Local Government Commission as required under G.S. 159-153. A regional council may not exercise the power of eminent domain."

SECTION 2.  G.S. 153A-395 is amended by adding a new subdivision to read:

"§ 153A-395.  Powers and duties.

A regional planning commission may:

(9a)     For the purpose of meeting its office space and program needs, acquire real property by purchase, gift, or otherwise, and improve that property. It may pledge real property as security for an indebtedness used to finance acquisition of that property or for improvements to that

property, subject to approval by the Local Government Commission as required under G.S. 159-153. It may not exercise the power of eminent domain in exercising the powers granted by this subdivision."

SECTION 3.  G.S. 158-7.3(j) reads as rewritten:

"(j)       Plan Implementation. - In implementing a development financing plan, a unit may act directly, through one or more contracts with other public agencies, through one or more contracts with private agencies, or by any combination thereof. A private agency that enters into a contract with a unit for the implementation of a development financing plan is subject to the provisions of Article 8 of Chapter 143 of the General Statutes only to the extent specified in the contract."

SECTION 4.  G.S. 160A-515.1(i) reads as rewritten:

"(i)       Plan Implementation. - In implementing a development financing plan, a city may act directly, through a redevelopment commission, through one or more contracts with private agencies, or by any combination of these. A private agency that enters into a contract with a city for the implementation of a development financing plan is subject to the provisions of Article 8 of Chapter 143 of the General Statutes only to the extent specified in the contract."


SECTION 5.  This act is effective when it becomes law.

In the General Assembly read three times and ratified this the 27th day of July, 2006.

 

 

                                                                    s/ Beverly E. Perdue

                                                                         President of the Senate

 

 

                                                                    s/ James B. Black

                                                                         Speaker of the House of Representatives

 

 

                                                                    s/ Michael F. Easley

                                                                         Governor

 

 

Approved 9:54 a.m. this 8th day of August, 2006