AN ACT AUTHORIZING THE CITY OF WINSTON-SALEM TO CONVEY CITY-OWNED REAL PROPERTY FOR THE PURPOSE OF INCREASING THE SUPPLY OF AFFORDABLE HOUSING FOR LOW- AND MODERATE-INCOME PERSONS.
Authorizes the City of Winston-Salem (City) to sell real property for the purpose of increasing the supply of affordable housing for low- and moderate-income persons. Permits the sale to be with or without consideration and upon terms determined by the City. Provides that no property acquired by eminent domain may be conveyed for this purpose. Allows the conveying deed to contain a restriction providing for the return of the property to the City if it is no longer used for the purpose set out above prior to the expiration of the time period required by the City. Requires conveyances pursuant to the act be made by resolution granting specific authority to the appropriate city official, and requires the resolution to be posted on the City's website at least 10 days prior to the date the sale is finalized.
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