A BILL TO BE ENTITLED
AN ACT to modify the authority and procedure for a redevelopment commission to convey certain property in a designated redevelopment area.
The General Assembly of North Carolina enacts:
SECTION 1.  G.S. 160A‑514(c) reads as rewritten:
"(c)	A commission may sell, exchange, or otherwise transfer the fee or any lesser interest in real property in a redevelopment project area to any redeveloper for any public or private use that accords with the redevelopment plan, subject to such covenants, conditions and restrictions as the commission may deem to be in the public interest and in furtherance of the purposes of this Article. In the sale, exchange, or transfer of property, the commission shall exercise the authority and procedure set out in G.S. 160A‑268, . 160A‑269, . 160A-270,  160A-271, or . 160A-279 for the disposition of property by a city council. Provided, however, that all sales, exchanges, or other transfers of real property from July 9, 1985, to December 31, 1987, in accordance with the provisions of this section prior to its revision on July 9, 1985, shall be and are valid in all respects."
SECTION 2.  G.S. 160A‑514(e) reads as rewritten:
"(e)	In carrying out a redevelopment project, the commission may:
(1)	With or without consideration and at private sale convey to the municipality in which the project is located such real property as, in accordance with the redevelopment plan, is to be laid out into streets, alleys, and public  ways.
(2)	With or without consideration, convey at private sale, grant, or dedicate easements and rights‑of‑way for public utilities, sewers, streets and other similar facilities, in accordance with the redevelopment  plan.
(3)	With or without consideration and at private sale convey to the municipality, county or other appropriate public body such real property as, in accordance with the redevelopment plan, is to be used for parks, schools, public buildings, facilities or other public purposes.
(4)	In addition to other authority contained in this section, after a public hearing advertised in accordance with the provisions of G.S. 160A‑513(e), and subject to the approval of the governing body of the municipality, convey to a nonprofit association or corporation organized and operated exclusively for educational, scientific, literary, cultural, charitable or religious purposes, no part of the net earnings of which inure to the benefit of any private shareholder or individual, such real property as, in accordance with the redevelopment plan, is to be used for the purposes of such associations or corporations. Such conveyance shall be for such consideration as may be agreed upon by the commission and the association or corporation, which shall not be less than the fair value of the property agreed upon by a committee of three professional real estate appraisers currently practicing in the State, which committee shall be appointed by the commission. All conveyances made under the authority of this subsection shall contain restrictive covenants limiting the use of property so conveyed to the purposes for which the conveyance is made."
SECTION 3.  This act is effective when it becomes law.