Senate committee substitute makes the following changes to the 2nd edition.

Amends proposed subsection (a1) of GS 153A-210.3, pertaining to counties, and GS 160A-239.3, pertaining to cities, regarding the required content of a preliminary assessment resolution. Adds that an estimate of the total cost of the project must be included in the preliminary assessment resolution adopted by the board of commissioners or city council. Makes conforming and organizational changes.

Amends the proposed changes to GS 153A-210.4(a) and GS 160A-239.4(a), which authorize a board of commissioners or city council to provide for payment of all or part of the cost of a project for which an assessment can be imposed under the Article from the specified funding sources, to provide that this funding is in addition to funding from sources otherwise authorized for use by a county or city (previously, by a board of commissioners or city council) in connection with a project. Amends proposed subsection (c) of each statute, providing that the board of commissioners or city council can agree to impose one or more assessments pursuant to the Article in order to reimburse a private party with whom the county or city contracted to construct a project on behalf of the county or city, so long as the reimbursement is for actual costs incurred by the private party related to the project and documented to the county or city (previously, did not limit reimbursement to actual costs incurred by the private party or require documentation). Further, modifies and expands the clause providing for the inclusion of an inflationary factor in the costs that may be reimbursed by adding new provisions to each subsection (c). Prohibits reimbursement to the private party for any interest costs of the funds invested by the party in the project except in the event that an abeyance in the collection of assessment is permitted pursuant to GS 153A-210.5, or GS 160A-239.5, whereby the amount to be reimbursed can include an inflationary factor applicable for the period of abeyance. Adds a new subsection (d) to each statute, providing that a subdivision control ordinance adopted by a county under GS 153A-331, or by a city under GS 160A-372, providing for a performance bond or guarantee to assure successful completion of required improvements will apply to a project funded in whole or in part by an assessment under each respective Article.