(a) Definitions. Thefollowing definitions apply in this section:
(1) Development project. A capital project that includes capital expenditures by both private personsand one or more units of local government and that increases net employmentopportunities for residents of the development district or within a two‑mileradius of the project, whichever is larger, and increases the local governmenttax base.
Ifthe district in which such a project will occur is outside a city's centralbusiness district (as that district is defined by resolution of the citycouncil, which definition is binding and conclusive), then, of the privatedevelopment forecast for a development project by the development financingplan for the district in which the project will occur, a maximum of twentypercent (20%) of the plan's estimated square footage of floor space may beproposed for use in retail sales, hotels, banking, and financial servicesoffered directly to consumers, and other commercial uses other than officespace. The twenty percent (20%) limitation in the preceding sentence does notapply to development financing districts located in a development tier onearea, as defined in G.S. 143B‑437.08 and created primarily for tourism‑relatedeconomic development, such as developments featuring facilities forexhibitions, athletic and cultural events, show and public gatherings, racingfacilities, parks and recreation facilities, art galleries, museums, and artcenters.
(2) Publish. Insertionin a newspaper qualified under G.S. 1‑597 to publish legal advertisementsin the county or counties in which the unit is located.
(3) Unit or unit oflocal government. A county, city, town, or incorporated village.
(b) Authorization. Aunit of local government may finance public improvements that are part of adevelopment project with the proceeds of project development financing debtinstruments, issued pursuant to Article 6 of Chapter 159 of the GeneralStatutes, together with any other revenues that are available to the unit.Before it receives the approval of the Local Government Commission for issuanceof project development financing debt instruments, the unit's governing bodymust define a development financing district and adopt a development financingplan for the district. The county may act jointly with a city to finance aproject, define a development financing district that is within the city, andadopt a development financing plan for the district.
(c) DevelopmentFinancing District. A development financing district created pursuant to thissection must be comprised of property that is one or more of the following:
(1) Blighted,deteriorated, deteriorating, undeveloped, or inappropriately developed from thestandpoint of sound community development and growth.
(2) Appropriate forrehabilitation or conservation activities.
(3) Appropriate for theeconomic development of the community.
The total land area withindevelopment financing districts in a unit, including development financing districtscreated pursuant to G.S. 160A‑515.1, may not exceed five percent (5%) ofthe total land area of the unit. For the purposes of this section, land in adistrict created by a county that subsequently becomes part of a city, town, orincorporated village does not count against the five‑percent (5%) limitfor the city, town, or incorporated village unless the city, town, orincorporated village and the county have entered into an agreement pursuant toG.S. 159‑107(e). A county may not include in a district created pursuantto this section any land that, at the time the district is created, is inside acity, town, or incorporated village.
(d) DevelopmentFinancing Plan. The development financing plan must include all of thefollowing:
(1) A description of theboundaries of the development financing district.
(2) A description of theproposed development of the district, both public and private.
(3) The costs of theproposed public activities.
(4) The sources andamounts of funds to pay for the proposed public activities.
(5) The base valuationof the development financing district.
(6) The projectedincremental valuation of the development financing district.
(7) The estimatedduration of the development financing district.
(8) A description of howthe proposed development of the district, both public and private, will benefitthe residents and business owners of the district in terms of jobs, affordablehousing, or services.
(9) A description of theappropriate ameliorative activities which will be undertaken if the proposedprojects have a negative impact on residents or business owners of the districtin terms of jobs, affordable housing, services, or displacement.
(10) A requirement thatthe initial users of any new manufacturing facilities that will be located inthe district and that are included in the plan will comply with the wagerequirements referred to in subsection (e) of this section.
(e) Wage Requirements. A development financing plan shall include a requirement that the initialusers of a new manufacturing facility to be located in the district andincluded in the plan must pay its employees an average weekly manufacturingwage that is either above the average manufacturing wage paid in the county inwhich the district will be located or not less than ten percent (10%) above theaverage weekly manufacturing wage paid in the State. The plan may includeinformation on the wages to be paid by the initial users of a new manufacturingfacility to its employees and any provisions necessary to implement the wagerequirement. The issuing unit's governing body shall not adopt a plan until theSecretary of Commerce certifies that the Secretary has reviewed the averageweekly manufacturing wage required by the plan to be paid to the employees of anew manufacturing facility and has found either (i) that the wages proposed bythe initial users of a new manufacturing facility are in compliance with theamount required by this subsection or (ii) that the plan is exempt from therequirement of this subsection. The Secretary of Commerce may exempt a planfrom the requirement of this subsection if the Secretary receives a resolutionfrom the issuing unit's governing body requesting an exemption from the wagerequirement and a letter from an appropriate State official, selected by theSecretary, finding that unemployment in the county in which the proposeddistrict is to be located is especially severe. Upon the creation of thedistrict, the unit of local government proposing the creation of the districtshall take any lawful actions necessary to require compliance with theapplicable wage requirement by the initial users of any new manufacturingfacility included in the plan; however, failure to take such actions or obtainsuch compliance shall not affect the validity of any proceedings for thecreation of the district, the existence of the district, or the validity of anydebt instruments issued under Article 6 of Chapter 159 of the General Statutes.All findings and determinations made by the Secretary of Commerce under thissubsection shall be binding and conclusive. For purposes of this section, theterm "manufacturing facility" means any facility that is used in themanufacturing or production of tangible personal property, including theprocessing resulting in a change in the condition of the property.
(f) County Review. Ifthe unit creating a development financing district and adopting a developmentfinancing plan is a city, town, or incorporated village, before adopting theplan the unit's governing body shall send notice of the plan, by first‑classmail, to the board of county commissioners of the county or counties in whichthe development financing district is located. The person mailing the noticeshall certify that fact, and the date thereof, to the governing body, and thecertificate is conclusive in the absence of fraud. Unless the board of countycommissioners (or either board, if the district is in two counties) byresolution disapproves the proposed plan within 28 days after the date thenotice is mailed, the governing body may proceed to adopt the plan.
(g) EnvironmentalReview. Before adopting a plan for development financing districts, theissuing unit's governing body shall submit the plan to the Secretary ofEnvironment and Natural Resources to review to determine if the constructionand operation of any new manufacturing facility in the district will have amaterially adverse effect on the environment and whether the company that willoperate the facility has operated in substantial compliance with federal andState laws, regulations, and rules for the protection of the environment. Ifthe Secretary finds that the new manufacturing facility will not have amaterially adverse effect on the environment and that the company that willoperate the facility has operated other facilities in compliance withenvironmental requirements, the Secretary shall approve the plan. In making thedetermination on environmental impact, the Secretary shall use the samecriteria that apply to the determination under G.S. 159C‑7 of whether anindustrial project will have a materially adverse effect on the environment.The findings of the Secretary are conclusive and binding.
(h) Plan Adoption. Beforeadopting a plan for a development financing district, the issuing unit'sgoverning body shall hold a public hearing on the plan. The governing bodyshall, no more than 30 days and no less than 14 days before the day of thehearing, cause notice of the hearing to be published once and shall causenotice of the hearing to be mailed, by first‑class mail, to all propertyowners and mailing addresses of the development financing district and to thegoverning body of any special district, as defined by G.S. 159‑7, withinwhich the development financing district is located. The notice shall state thetime and place of the hearing, shall specify its purpose, and shall state thata copy of the proposed plan is available for public inspection in the office ofthe unit's clerk. At the public hearing, the governing body shall hear anyonewho wishes to speak with respect to the proposed district and proposed plan.Unless a board of county commissioners or the Secretary of Environment andNatural Resources has disapproved the plan pursuant to subsection (f) or (g) ofthis section, the governing body may adopt the plan, with or without amendment,at any time after the public hearing. However, the plan and the district do notbecome effective until the unit's application to issue project developmentfinancing debt instruments has been approved by the Local GovernmentCommission, pursuant to Article 6 of Chapter 159 of the General Statutes.
(i) Plan Modification. Subject to the limitations of this subsection, a governing body may, afterthe effective date of the district, amend a development financing plan adoptedfor a development financing district. Before making any amendment, thegoverning body shall follow the procedures and meet the requirements ofsubsections (e) through (h) of this section. The boundaries of the district maybe enlarged only during the first five years after the effective date of thedistrict and only if the area to be added has been or is about to be developedand the development is primarily attributable to development that has occurredwithin the district, as certified by the Local Government Commission. Theboundaries of the district may be reduced at any time, but the unit may agreewith the holders of any project development financing debt instruments torestrict its power to reduce district boundaries.
(j) Plan Implementation. In implementing a development financing plan, a unit may act directly,through one or more contracts with other public agencies, through one or morecontracts with private agencies, or by any combination thereof. A privateagency that enters into a contract with a unit for the implementation of adevelopment financing plan is subject to the provisions of Article 8 of Chapter143 of the General Statutes only to the extent specified in the contract. (2003‑403, s. 19; 2005‑238,s. 1; 2005‑407, s. 1; 2006‑211, s. 3; 2006‑252, s. 2.10.)
(a) Definitions. Thefollowing definitions apply in this section:
(1) Development project. A capital project that includes capital expenditures by both private personsand one or more units of local government and that increases net employmentopportunities for residents of the development district or within a two‑mileradius of the project, whichever is larger, and increases the local governmenttax base.
Ifthe district in which such a project will occur is outside a city's centralbusiness district (as that district is defined by resolution of the citycouncil, which definition is binding and conclusive), then, of the privatedevelopment forecast for a development project by the development financingplan for the district in which the project will occur, a maximum of twentypercent (20%) of the plan's estimated square footage of floor space may beproposed for use in retail sales, hotels, banking, and financial servicesoffered directly to consumers, and other commercial uses other than officespace. The twenty percent (20%) limitation in the preceding sentence does notapply to development financing districts located in a development tier onearea, as defined in G.S. 143B‑437.08 and created primarily for tourism‑relatedeconomic development, such as developments featuring facilities forexhibitions, athletic and cultural events, show and public gatherings, racingfacilities, parks and recreation facilities, art galleries, museums, and artcenters.
(2) Publish. Insertionin a newspaper qualified under G.S. 1‑597 to publish legal advertisementsin the county or counties in which the unit is located.
(3) Unit or unit oflocal government. A county, city, town, or incorporated village.
(b) Authorization. Aunit of local government may finance public improvements that are part of adevelopment project with the proceeds of project development financing debtinstruments, issued pursuant to Article 6 of Chapter 159 of the GeneralStatutes, together with any other revenues that are available to the unit.Before it receives the approval of the Local Government Commission for issuanceof project development financing debt instruments, the unit's governing bodymust define a development financing district and adopt a development financingplan for the district. The county may act jointly with a city to finance aproject, define a development financing district that is within the city, andadopt a development financing plan for the district.
(c) DevelopmentFinancing District. A development financing district created pursuant to thissection must be comprised of property that is one or more of the following:
(1) Blighted,deteriorated, deteriorating, undeveloped, or inappropriately developed from thestandpoint of sound community development and growth.
(2) Appropriate forrehabilitation or conservation activities.
(3) Appropriate for theeconomic development of the community.
The total land area withindevelopment financing districts in a unit, including development financing districtscreated pursuant to G.S. 160A‑515.1, may not exceed five percent (5%) ofthe total land area of the unit. For the purposes of this section, land in adistrict created by a county that subsequently becomes part of a city, town, orincorporated village does not count against the five‑percent (5%) limitfor the city, town, or incorporated village unless the city, town, orincorporated village and the county have entered into an agreement pursuant toG.S. 159‑107(e). A county may not include in a district created pursuantto this section any land that, at the time the district is created, is inside acity, town, or incorporated village.
(d) DevelopmentFinancing Plan. The development financing plan must include all of thefollowing:
(1) A description of theboundaries of the development financing district.
(2) A description of theproposed development of the district, both public and private.
(3) The costs of theproposed public activities.
(4) The sources andamounts of funds to pay for the proposed public activities.
(5) The base valuationof the development financing district.
(6) The projectedincremental valuation of the development financing district.
(7) The estimatedduration of the development financing district.
(8) A description of howthe proposed development of the district, both public and private, will benefitthe residents and business owners of the district in terms of jobs, affordablehousing, or services.
(9) A description of theappropriate ameliorative activities which will be undertaken if the proposedprojects have a negative impact on residents or business owners of the districtin terms of jobs, affordable housing, services, or displacement.
(10) A requirement thatthe initial users of any new manufacturing facilities that will be located inthe district and that are included in the plan will comply with the wagerequirements referred to in subsection (e) of this section.
(e) Wage Requirements. A development financing plan shall include a requirement that the initialusers of a new manufacturing facility to be located in the district andincluded in the plan must pay its employees an average weekly manufacturingwage that is either above the average manufacturing wage paid in the county inwhich the district will be located or not less than ten percent (10%) above theaverage weekly manufacturing wage paid in the State. The plan may includeinformation on the wages to be paid by the initial users of a new manufacturingfacility to its employees and any provisions necessary to implement the wagerequirement. The issuing unit's governing body shall not adopt a plan until theSecretary of Commerce certifies that the Secretary has reviewed the averageweekly manufacturing wage required by the plan to be paid to the employees of anew manufacturing facility and has found either (i) that the wages proposed bythe initial users of a new manufacturing facility are in compliance with theamount required by this subsection or (ii) that the plan is exempt from therequirement of this subsection. The Secretary of Commerce may exempt a planfrom the requirement of this subsection if the Secretary receives a resolutionfrom the issuing unit's governing body requesting an exemption from the wagerequirement and a letter from an appropriate State official, selected by theSecretary, finding that unemployment in the county in which the proposeddistrict is to be located is especially severe. Upon the creation of thedistrict, the unit of local government proposing the creation of the districtshall take any lawful actions necessary to require compliance with theapplicable wage requirement by the initial users of any new manufacturingfacility included in the plan; however, failure to take such actions or obtainsuch compliance shall not affect the validity of any proceedings for thecreation of the district, the existence of the district, or the validity of anydebt instruments issued under Article 6 of Chapter 159 of the General Statutes.All findings and determinations made by the Secretary of Commerce under thissubsection shall be binding and conclusive. For purposes of this section, theterm "manufacturing facility" means any facility that is used in themanufacturing or production of tangible personal property, including theprocessing resulting in a change in the condition of the property.
(f) County Review. Ifthe unit creating a development financing district and adopting a developmentfinancing plan is a city, town, or incorporated village, before adopting theplan the unit's governing body shall send notice of the plan, by first‑classmail, to the board of county commissioners of the county or counties in whichthe development financing district is located. The person mailing the noticeshall certify that fact, and the date thereof, to the governing body, and thecertificate is conclusive in the absence of fraud. Unless the board of countycommissioners (or either board, if the district is in two counties) byresolution disapproves the proposed plan within 28 days after the date thenotice is mailed, the governing body may proceed to adopt the plan.
(g) EnvironmentalReview. Before adopting a plan for development financing districts, theissuing unit's governing body shall submit the plan to the Secretary ofEnvironment and Natural Resources to review to determine if the constructionand operation of any new manufacturing facility in the district will have amaterially adverse effect on the environment and whether the company that willoperate the facility has operated in substantial compliance with federal andState laws, regulations, and rules for the protection of the environment. Ifthe Secretary finds that the new manufacturing facility will not have amaterially adverse effect on the environment and that the company that willoperate the facility has operated other facilities in compliance withenvironmental requirements, the Secretary shall approve the plan. In making thedetermination on environmental impact, the Secretary shall use the samecriteria that apply to the determination under G.S. 159C‑7 of whether anindustrial project will have a materially adverse effect on the environment.The findings of the Secretary are conclusive and binding.
(h) Plan Adoption. Beforeadopting a plan for a development financing district, the issuing unit'sgoverning body shall hold a public hearing on the plan. The governing bodyshall, no more than 30 days and no less than 14 days before the day of thehearing, cause notice of the hearing to be published once and shall causenotice of the hearing to be mailed, by first‑class mail, to all propertyowners and mailing addresses of the development financing district and to thegoverning body of any special district, as defined by G.S. 159‑7, withinwhich the development financing district is located. The notice shall state thetime and place of the hearing, shall specify its purpose, and shall state thata copy of the proposed plan is available for public inspection in the office ofthe unit's clerk. At the public hearing, the governing body shall hear anyonewho wishes to speak with respect to the proposed district and proposed plan.Unless a board of county commissioners or the Secretary of Environment andNatural Resources has disapproved the plan pursuant to subsection (f) or (g) ofthis section, the governing body may adopt the plan, with or without amendment,at any time after the public hearing. However, the plan and the district do notbecome effective until the unit's application to issue project developmentfinancing debt instruments has been approved by the Local GovernmentCommission, pursuant to Article 6 of Chapter 159 of the General Statutes.
(i) Plan Modification. Subject to the limitations of this subsection, a governing body may, afterthe effective date of the district, amend a development financing plan adoptedfor a development financing district. Before making any amendment, thegoverning body shall follow the procedures and meet the requirements ofsubsections (e) through (h) of this section. The boundaries of the district maybe enlarged only during the first five years after the effective date of thedistrict and only if the area to be added has been or is about to be developedand the development is primarily attributable to development that has occurredwithin the district, as certified by the Local Government Commission. Theboundaries of the district may be reduced at any time, but the unit may agreewith the holders of any project development financing debt instruments torestrict its power to reduce district boundaries.
(j) Plan Implementation. In implementing a development financing plan, a unit may act directly,through one or more contracts with other public agencies, through one or morecontracts with private agencies, or by any combination thereof. A privateagency that enters into a contract with a unit for the implementation of adevelopment financing plan is subject to the provisions of Article 8 of Chapter143 of the General Statutes only to the extent specified in the contract. (2003‑403, s. 19; 2005‑238,s. 1; 2005‑407, s. 1; 2006‑211, s. 3; 2006‑252, s. 2.10.)
(a) Definitions. Thefollowing definitions apply in this section:
(1) Development project. A capital project that includes capital expenditures by both private personsand one or more units of local government and that increases net employmentopportunities for residents of the development district or within a two‑mileradius of the project, whichever is larger, and increases the local governmenttax base.
Ifthe district in which such a project will occur is outside a city's centralbusiness district (as that district is defined by resolution of the citycouncil, which definition is binding and conclusive), then, of the privatedevelopment forecast for a development project by the development financingplan for the district in which the project will occur, a maximum of twentypercent (20%) of the plan's estimated square footage of floor space may beproposed for use in retail sales, hotels, banking, and financial servicesoffered directly to consumers, and other commercial uses other than officespace. The twenty percent (20%) limitation in the preceding sentence does notapply to development financing districts located in a development tier onearea, as defined in G.S. 143B‑437.08 and created primarily for tourism‑relatedeconomic development, such as developments featuring facilities forexhibitions, athletic and cultural events, show and public gatherings, racingfacilities, parks and recreation facilities, art galleries, museums, and artcenters.
(2) Publish. Insertionin a newspaper qualified under G.S. 1‑597 to publish legal advertisementsin the county or counties in which the unit is located.
(3) Unit or unit oflocal government. A county, city, town, or incorporated village.
(b) Authorization. Aunit of local government may finance public improvements that are part of adevelopment project with the proceeds of project development financing debtinstruments, issued pursuant to Article 6 of Chapter 159 of the GeneralStatutes, together with any other revenues that are available to the unit.Before it receives the approval of the Local Government Commission for issuanceof project development financing debt instruments, the unit's governing bodymust define a development financing district and adopt a development financingplan for the district. The county may act jointly with a city to finance aproject, define a development financing district that is within the city, andadopt a development financing plan for the district.
(c) DevelopmentFinancing District. A development financing district created pursuant to thissection must be comprised of property that is one or more of the following:
(1) Blighted,deteriorated, deteriorating, undeveloped, or inappropriately developed from thestandpoint of sound community development and growth.
(2) Appropriate forrehabilitation or conservation activities.
(3) Appropriate for theeconomic development of the community.
The total land area withindevelopment financing districts in a unit, including development financing districtscreated pursuant to G.S. 160A‑515.1, may not exceed five percent (5%) ofthe total land area of the unit. For the purposes of this section, land in adistrict created by a county that subsequently becomes part of a city, town, orincorporated village does not count against the five‑percent (5%) limitfor the city, town, or incorporated village unless the city, town, orincorporated village and the county have entered into an agreement pursuant toG.S. 159‑107(e). A county may not include in a district created pursuantto this section any land that, at the time the district is created, is inside acity, town, or incorporated village.
(d) DevelopmentFinancing Plan. The development financing plan must include all of thefollowing:
(1) A description of theboundaries of the development financing district.
(2) A description of theproposed development of the district, both public and private.
(3) The costs of theproposed public activities.
(4) The sources andamounts of funds to pay for the proposed public activities.
(5) The base valuationof the development financing district.
(6) The projectedincremental valuation of the development financing district.
(7) The estimatedduration of the development financing district.
(8) A description of howthe proposed development of the district, both public and private, will benefitthe residents and business owners of the district in terms of jobs, affordablehousing, or services.
(9) A description of theappropriate ameliorative activities which will be undertaken if the proposedprojects have a negative impact on residents or business owners of the districtin terms of jobs, affordable housing, services, or displacement.
(10) A requirement thatthe initial users of any new manufacturing facilities that will be located inthe district and that are included in the plan will comply with the wagerequirements referred to in subsection (e) of this section.
(e) Wage Requirements. A development financing plan shall include a requirement that the initialusers of a new manufacturing facility to be located in the district andincluded in the plan must pay its employees an average weekly manufacturingwage that is either above the average manufacturing wage paid in the county inwhich the district will be located or not less than ten percent (10%) above theaverage weekly manufacturing wage paid in the State. The plan may includeinformation on the wages to be paid by the initial users of a new manufacturingfacility to its employees and any provisions necessary to implement the wagerequirement. The issuing unit's governing body shall not adopt a plan until theSecretary of Commerce certifies that the Secretary has reviewed the averageweekly manufacturing wage required by the plan to be paid to the employees of anew manufacturing facility and has found either (i) that the wages proposed bythe initial users of a new manufacturing facility are in compliance with theamount required by this subsection or (ii) that the plan is exempt from therequirement of this subsection. The Secretary of Commerce may exempt a planfrom the requirement of this subsection if the Secretary receives a resolutionfrom the issuing unit's governing body requesting an exemption from the wagerequirement and a letter from an appropriate State official, selected by theSecretary, finding that unemployment in the county in which the proposeddistrict is to be located is especially severe. Upon the creation of thedistrict, the unit of local government proposing the creation of the districtshall take any lawful actions necessary to require compliance with theapplicable wage requirement by the initial users of any new manufacturingfacility included in the plan; however, failure to take such actions or obtainsuch compliance shall not affect the validity of any proceedings for thecreation of the district, the existence of the district, or the validity of anydebt instruments issued under Article 6 of Chapter 159 of the General Statutes.All findings and determinations made by the Secretary of Commerce under thissubsection shall be binding and conclusive. For purposes of this section, theterm "manufacturing facility" means any facility that is used in themanufacturing or production of tangible personal property, including theprocessing resulting in a change in the condition of the property.
(f) County Review. Ifthe unit creating a development financing district and adopting a developmentfinancing plan is a city, town, or incorporated village, before adopting theplan the unit's governing body shall send notice of the plan, by first‑classmail, to the board of county commissioners of the county or counties in whichthe development financing district is located. The person mailing the noticeshall certify that fact, and the date thereof, to the governing body, and thecertificate is conclusive in the absence of fraud. Unless the board of countycommissioners (or either board, if the district is in two counties) byresolution disapproves the proposed plan within 28 days after the date thenotice is mailed, the governing body may proceed to adopt the plan.
(g) EnvironmentalReview. Before adopting a plan for development financing districts, theissuing unit's governing body shall submit the plan to the Secretary ofEnvironment and Natural Resources to review to determine if the constructionand operation of any new manufacturing facility in the district will have amaterially adverse effect on the environment and whether the company that willoperate the facility has operated in substantial compliance with federal andState laws, regulations, and rules for the protection of the environment. Ifthe Secretary finds that the new manufacturing facility will not have amaterially adverse effect on the environment and that the company that willoperate the facility has operated other facilities in compliance withenvironmental requirements, the Secretary shall approve the plan. In making thedetermination on environmental impact, the Secretary shall use the samecriteria that apply to the determination under G.S. 159C‑7 of whether anindustrial project will have a materially adverse effect on the environment.The findings of the Secretary are conclusive and binding.
(h) Plan Adoption. Beforeadopting a plan for a development financing district, the issuing unit'sgoverning body shall hold a public hearing on the plan. The governing bodyshall, no more than 30 days and no less than 14 days before the day of thehearing, cause notice of the hearing to be published once and shall causenotice of the hearing to be mailed, by first‑class mail, to all propertyowners and mailing addresses of the development financing district and to thegoverning body of any special district, as defined by G.S. 159‑7, withinwhich the development financing district is located. The notice shall state thetime and place of the hearing, shall specify its purpose, and shall state thata copy of the proposed plan is available for public inspection in the office ofthe unit's clerk. At the public hearing, the governing body shall hear anyonewho wishes to speak with respect to the proposed district and proposed plan.Unless a board of county commissioners or the Secretary of Environment andNatural Resources has disapproved the plan pursuant to subsection (f) or (g) ofthis section, the governing body may adopt the plan, with or without amendment,at any time after the public hearing. However, the plan and the district do notbecome effective until the unit's application to issue project developmentfinancing debt instruments has been approved by the Local GovernmentCommission, pursuant to Article 6 of Chapter 159 of the General Statutes.
(i) Plan Modification. Subject to the limitations of this subsection, a governing body may, afterthe effective date of the district, amend a development financing plan adoptedfor a development financing district. Before making any amendment, thegoverning body shall follow the procedures and meet the requirements ofsubsections (e) through (h) of this section. The boundaries of the district maybe enlarged only during the first five years after the effective date of thedistrict and only if the area to be added has been or is about to be developedand the development is primarily attributable to development that has occurredwithin the district, as certified by the Local Government Commission. Theboundaries of the district may be reduced at any time, but the unit may agreewith the holders of any project development financing debt instruments torestrict its power to reduce district boundaries.
(j) Plan Implementation. In implementing a development financing plan, a unit may act directly,through one or more contracts with other public agencies, through one or morecontracts with private agencies, or by any combination thereof. A privateagency that enters into a contract with a unit for the implementation of adevelopment financing plan is subject to the provisions of Article 8 of Chapter143 of the General Statutes only to the extent specified in the contract. (2003‑403, s. 19; 2005‑238,s. 1; 2005‑407, s. 1; 2006‑211, s. 3; 2006‑252, s. 2.10.)
