NORTH CAROLINA GENERAL ASSEMBLY

1963 SESSION

 

 

CHAPTER 1212

SENATE BILL 577

 

 

AN ACT AMENDING THE URBAN DEVELOPMENT LAW SO AS TO AUTHORIZE DISPOSITION OF PROPERTY BY REDEVELOPMENT COMMISSIONS TO CERTAIN NONPROFIT CORPORATIONS OR ASSOCIATIONS AT PRIVATE SALE.

 

The General Assembly of North Carolina do enact:

 

Section 1.  Subsection (b) of Section 160-464 of the General Statutes of North Carolina, as the same appears in the 1961 Cumulative Supplement, is amended by striking out the proviso beginning on line 15 and ending on line 19 and substituting the following:

"provided, nothing herein shall prevent the sale at private sale to the municipality or other public body, or to a nonprofit association or corporation operated exclusively for educational, scientific, literary, cultural, charitable, or religious purposes, of such property as is specified in, and subject to the requirements of, subsections (c)(1), (2), (3), or (4) of this Section;".

Sec. 2.  Subsection (c) of Section 160-464 of the General Statutes of North Carolina is amended by adding the following subsection (4) at the end thereof:

"(4)      After a public hearing advertised in accordance with the provisions of G.S. 160-463(e), and subject to the approval of the governing body of the municipality, convey to a nonprofit association or corporation organized and operated exclusively for educational, scientific, literary, cultural, charitable, or religious purposes, no part of the net earnings of which inure to the benefit of any private shareholder or individual, such real property as, in accordance with the redevelopment plan, is to be used for the purposes of such associations or corporations. Such conveyance shall be for such consideration as may be agreed upon by the commission and the association or corporation, which shall not be less than the fair value of the property agreed upon by a committee of three professional real estate appraisers currently practicing in the State, which committee shall be appointed by the commission. All conveyances made under the authority of this Section shall contain restrictive covenants limiting the use of property so conveyed to the purposes for which the conveyance is made."

Sec. 3.  All laws and clauses of laws in conflict with this Act are hereby repealed.

Sec. 4.  The provisions of this Act shall not apply to the following counties: Duplin, Forsyth, Craven, Mecklenburg, Madison, New Hanover, Macon, Swain, Yancey, Edgecombe.

Sec. 5.  This Act shall be in full force and effect from and after its ratification.

In the General Assembly read three times and ratified, this the 26th day of June, 1963.