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, AND OWNERSHIP, AND OPERATION OF A DOWNTOWN DEVELOPMENT PROJECT SUBJECT TO CERTAIN CONDITIONS.
Conference report makes the following changes to the 1st edition, as amended.
Amends the long and short titles.
Applicable only to New Hanover County: Authorizes New Hanover County to exercise any authority under GS 160A-458.3 (Downtown Development Projects) to undertake one downtown development project, subject to the conditions that the property was owned by the County on January 1, 2017, in the central business district of Wilmington, as specified, and the project is not subject to GS Chapter 143, Article 8 (Public Contracts), if funds other than county funds constitute at least 25% of the total cost of the construction and renovation of the public and private facilities included in the project. Effective when the bill becomes law.
Makes a conforming change.
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