North Carolina General Statutes 160D-1316. Low- and moderate-income housing programs
Any local government is authorized to exercise the following powers:
(1) To engage in and to appropriate and expend funds for residential housing construction, new or rehabilitated, for sale or rental to persons and families of low and moderate income. Any governing board may contract with any person, association, or corporation to implement the provisions of this subdivision.
(2) To acquire real property by voluntary purchase from the owners to be developed by the local government or to be used by the local government to provide affordable housing to persons of low and moderate income.
(3) To convey property by private sale to any public or private entity that provides affordable housing to persons of low or moderate income under procedures and standards established by the local government, The local government shall include as part of any such conveyance covenants or conditions that assure the property will be developed by the entity for sale or lease to persons of low or moderate income.
(4) To convey residential property by private sale to persons of low or moderate income, in accordance with procedures and standards established by the local government, with N.C. Gen. Stat. § 160A-267, and with any terms and conditions that the governing board may determine. ?(2019-111, s. 2.4; 2020-3, s. 4.33(a); 2020-25, s. 51(a), (b), (d).)
Terms Used In North Carolina General Statutes 160D-1316
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- following: when used by way of reference to any section of a statute, shall be construed to mean the section next preceding or next following that in which such reference is made; unless when some other section is expressly designated in such reference. See North Carolina General Statutes 12-3
- Governing board: The city council or board of county commissioners. See North Carolina General Statutes 160D-102
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Local government: A city or county. See North Carolina General Statutes 160D-102
- Person: An individual, partnership, firm, association, joint venture, public or private corporation, trust, estate, commission, board, public or private institution, utility, cooperative, interstate body, the State of North Carolina and its agencies and political subdivisions, or other legal entity. See North Carolina General Statutes 160D-102
- Property: All real property subject to land-use regulation by a local government. See North Carolina General Statutes 160D-102
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- Subdivision: The division of land for the purpose of sale or development as specified in N. See North Carolina General Statutes 160D-102