AN ACT authorizing THE city of wilmington TO SELL, EXCHANGE, OR OTHERWISE TRANSFER REAL PROPERTY SUBJECT TO RESTRICTIONS.

The General Assembly of North Carolina enacts:

SECTION 1.  Section 13.8 of the Charter of the City of Wilmington, as amended by Chapter 615 of the Session Laws of 1991, reads as rewritten:

Sec. 13.8. Conditions and Restrictions on the Sale of Property. (a) The City of Wilmington may make any sale, exchange, or transfer of property pursuant to G.S. 160A-268, 160A-269, 160A-270, or 160A-271 in any manner authorized by general or local law, subject to such covenants, conditions, and restrictions as the City Council may deem to be in the public interest.

(b)        Conveyance of real property with restrictions. The City Council may, in addition to other authorized means, approve the sale, exchange, or transfer of the fee or any lesser interest in real property, either by public sale or by negotiated private sale. The transfer shall be in furtherance of adopted City policies or plans for the area. The City may attach to the transfer and to the interest conveyed any covenants, conditions, or restrictions, or a combination of them, the City deems necessary to further the adopted policies or plans. The consideration received by the City for the conveyance may reflect the restricted use of the property resulting from the covenants, conditions, or restrictions. The City may invite bids or written proposals, including detailed development plans and site plans, for the purchase of any such property or property interest, whether by sale, exchange, or other transfer, pursuant to the specifications as may be approved by the City. A sale, exchange, or other transfer of real property, or interest therein, pursuant to this section may be made contingent upon any necessary rezoning of the property. Any conveyance under this section may be made only pursuant to a resolution of the City Council authorizing the conveyance. Notice by publication of the proposed transaction shall be given at least 10 days prior to adoption of the resolution, and the notice shall generally describe (i) the property involved, (ii) the nature of the interest to be conveyed, and (iii) all of the material terms of the proposed transaction, including any covenants, conditions, or restrictions which may be applicable. The notice shall give the time and place of the City Council meeting where the proposed transaction will be considered and shall announce the Council's intention to authorize the proposed transaction. The authority contained in this section is in addition to, and not in limitation of, any other authority granted by this Charter or any other general or local law.

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