Section 160D-1004 - Size and durationA local government may enter into a development agreement with a developer for the development of property as provided in this Article for developable property of any size. Development agreements shall be of a reasonable term specified in the agreement.
N.C. Gen. Stat. § 160D-1004
Added by 2019 N.C. Sess. Laws 111,s. 2.4, eff. 1/1/2021.Effective Date - S.L. 2019-111: Section 2.4 of 2019 N.C. Sess. Laws 111 added Chapter 160D, and section 3.2 made the act effective January 1, 2021. 2020 N.C. Sess. Laws 25,s. 51-a, eff. 6/19/2020, repealed § 3.2 of S.L. 2019-111. Section 51.(b) of S.L. 2020-25 provides: "Part II of S.L. 2019-111 is effective when this act becomes law [June 19, 2020]. Part II of S.L. 2019-111 clarifies and restates the intent of law existing on the effective date of this act and applies to ordinances adopted before, on, and after that date. Valid local government development regulations that are in effect at the time of the effective date of Part II of S.L. 2019-111 remain in effect but local governments shall amend those regulations to conform to the provisions of Part II of S.L. 2019-111 on or before July 1, 2021. Part II of S.L. 2019-111 applies to local government development regulation decisions made on or after the earlier of: (1) The effective date of the amendments to local development regulations made to conform to the provisions of Part II of S.L. 2019-111 or (2) July 1, 2021."