AN ACT removing certain described property from the corporate limits of the town of carolina shores and authorizing new hanover county to participate in the acquisition, construction, ownership, and operation of a downtown development project subject to certain conditions.

The General Assembly of North Carolina enacts:

SECTION 1.(a)  The following described property is removed from the corporate limits of the Town of Carolina Shores:
For that certain parcel of land lying and being in Shallotte Township, Brunswick County, North Carolina, identified on a plat created by Thomas & Hutton entitled "DE‑ANNEXATION EXHIBIT OF THE CHERYL G. BENNETT & L.E. BENNETT PARCEL TOTALING 0.04 AC.±," dated 3/1/17, bounded on the North, South, East, and West by lands of Cheryl G. Bennett, and being more particularly described as follows: BEGINNING at a point in the Cheryl G. Bennett property line, said point have a NC Grid Coordinate value of N: 64,877.50, E: 2,132,373.59, and runs thence with the existing Cheryl G. Bennett property line, S 01' 38' 59" W – 64.96' to a point; thence continuing with the Bennett property line, S 18' 28'50" W – 51.56' to a point; thence with a proposed property line to be identified as the new Town Limit Line, N 71' 20' 40" W – 19.95' to a point, a new property corner having a NC Grid Coordinate value of N: 64,770.05, E: 2,132,336.48; thence with a proposed property line to be identified as the new Town Limit Line, N 19' 03' 19" E – 113.68' to the BEGINNING, containing 0.04 Acres±.
SECTION 1.(b)  This section becomes effective June 30, 2017. Property in the territory described in this section as of January 1, 2017, is no longer subject to municipal taxes for taxes imposed for taxable years beginning on or after July 1, 2017.
SECTION 2.(a)  The County of New Hanover may exercise any authority under G.S. 160A‑458.3 to undertake one downtown development project, subject to the following conditions:
(1)	The property was owned by the County on January 1, 2017, in the central business district of the City of Wilmington, described as follows: That block bordered by Grace Street, 3rd Street, Chestnut Street, and 2nd Street.
(2)	The project shall not be subject to Article 8 of Chapter 143 of the General Statutes if funds other than county funds constitute at least twenty‑five percent (25%) of the total cost of the construction and renovation of the public and private facilities included in the project.
SECTION 2.(b)  This section applies only to New Hanover County.
SECTION 2.(c)  This section is effective when it becomes law.
SECTION 3.  Except as otherwise provided, this act is effective when it becomes law.
In the General Assembly read three times and ratified this the 30th day of June, 2017.

	s/	 Philip E. Berger
	 President Pro Tempore of the Senate

	s/	 Tim Moore
	 Speaker of the House of Representatives