Bill Text: NC S1120 | 2010 | Regular Session | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Burlington Economic Development

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Passed) 2010-06-30 - Ch. SL 2010-25 [S1120 Detail]

Download: North_Carolina-2010-S1120-Introduced.html

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GENERAL ASSEMBLY OF NORTH CAROLINA

SESSION 2009

S                                                                                                                                                    D

SENATE DRS15337-LB-309A*  (04/07)

 

 

 

Short Title:        Burlington Economic Development.		(Local)
Sponsors:	Senator Foriest.
Referred to:

 

 

A BILL TO BE ENTITLED

AN ACT amending the charter of the city of burlington relating to residential development projects in a municipal service district.

The General Assembly of North Carolina enacts:

SECTION 1.  Subchapter C of Chapter III of the Charter of the City of Burlington, being Chapter 119 of the 1961 Session Laws, is amended by adding a new section to read:

"Section 3.42. Residential development projects in municipal service districts. The city council may, in accordance with G.S. 158‑7.1, et seq., make appropriations and authorize economic incentives for the purposes of aiding and encouraging residential development projects within the city in a municipal service district established pursuant to Article 23 of Chapter 160A of the General Statutes which, in the discretion of the city council, is likely to have a significant effect on the economic revitalization of that district.

In connection with the foregoing, the city council may make loans and grants from public funds for revitalization projects that will have a significant revitalization effect on the city."

SECTION 2.  This act is effective when it becomes law.