A BILL TO BE ENTITLED
AN ACT to amend the charter of the town of cary to authorize the town to sell, exchange, or otherwise transfer real property subject to restrictions deemed to be in the public interest.
The General Assembly of North Carolina enacts:
SECTION 1.  The Charter of the Town of Cary, being S.L. 2005‑117, is amended by adding a new Article to read as follows:
"Article XI. SALE, LEASE, AND DISPOSITION OF PROPERTY.
"Section 11.1.  Conveyance of Real Property. The Town Council may sell, exchange, or otherwise transfer the fee or any lesser interest in real property to any purchaser subject to covenants, conditions, and restrictions as the Town Council may deem to be in the public interest. The sale, exchange, or other transfer may be made pursuant to the provisions of this Charter, Article 12 of Chapter 160A of the General Statutes, G.S. 160A‑514 when the Town Council is acting as a redevelopment commission, or any other applicable provisions of law, and the consideration received by the Town, if any, for the sale, exchange, or transfer may reflect the restricted use of the property resulting from the covenants, conditions, and restrictions. The Town may invite bids or written proposals, including detailed development plans and site plans, for the purchase of any property or property interest, whether by sale, exchange, or other transfer, pursuant to specifications as may be approved by the Town. The sale, exchange, or other transfer of real property, or interest therein, pursuant to this section may be made contingent upon the necessary rezoning of the property. The authority granted in this section shall be in addition to and not in limitation of any other authority granted by this Charter or any other general or local law."
SECTION 2.  This act is effective when it becomes law.