AN ACT AUTHORIZing the TOWNS OF BLOWING ROCK and BOONE, watauga county, and THE WATAUGA COUNTY BOARD OF EDUCATION TO CONSTRUCT AND PROVIDE AFFORDABLE HOUSING FOR TOWN and county EMPLOYEES AND PUBLIC SCHOOL TEACHERS.

The General Assembly of North Carolina enacts:

SECTION 1.  Notwithstanding G.S. 66‑58, G.S. 115C‑518, Article 12 of Chapter 160A of the General Statutes, or any other provision of law, the Towns of Blowing Rock and Boone, Watauga County, and the Watauga County Board of Education (hereinafter local government unit) are authorized to do all of the following:

(1)        Either separately or through a partnership, joint venture, land trust, or other similar entity, construct and provide affordable housing for local government unit employees on property owned by the unit.

(2)        Convey property owned by the local government unit to a partnership, joint venture, land trust, or similar entity for the purpose of constructing, providing, or maintaining affordable housing for unit employees. A unit shall not convey to a partnership, joint venture, land trust, or any other entity any property that was acquired through the exercise of eminent domain on or after the date this act becomes law.

(3)        Contract with any person, partnership, corporation, or other business entity to finance, construct, or maintain affordable housing for local government unit employees.

(4)        Rent or sell affordable housing units for residential use exclusively to local government unit employees. A unit may establish reasonable rents or sales prices, charge below‑market rates, offer below‑market financing, and place reasonable restrictions and buyback provisions on the resale of the affordable housing units.

SECTION 2.  Any affordable housing units constructed pursuant to the provisions of this act shall comply with all applicable building codes, zoning ordinances, and any other State and local regulations related to the construction of residential homes.

SECTION 3.  This act is effective when it becomes law.