Allows the City of Eden to enter into an agreement to provide that the Dan River Plant Property (as described in the act) may not be involuntarily annexed by Eden from January 1, 2014, until December 31, 2019, except as provided in the agreement, under the General Statutes as they now exist or may be amended. Provides that Eden may not seek to repeal this act. Any agreement entered into is deemed to be proprietary and commercial in nature and is deemed consistent with the state's public policy. Provides that any agreement entered into is a continuing agreement and enforceable against the city's current and future members of the city council during the term of the agreement and extension of the agreement. Authorizes parties to the agreement to modify, amend, and extend the agreement on mutual written consent as long as it does not materially alter the concept of the agreement. Allows Eden to accept payment in lieu of taxes as consideration for the agreement and provides that Eden will accept $1 million as payment in lieu of taxes on the Dan River Plant Property with Duke Energy making annual payments of $200,000.