What type of property may be included in a county project development district?
G.S. 158-7.3 authorizes a county to create a project development district and fund public improvements that are part of a development project within the district. A development project is a capital project that includes capital expenditures by both private entities and one or more units of local government and that increases net employment opportunities for residents of the development district or within a two-mile radius of the project, whichever is larger, and increases the local government’s tax base. The project development district is comprised of property that meets at least one of the following criteria: • Blighted, deteriorated, deteriorating, undeveloped, or inappropriately developed from the standpoint of sound community development and growth; • Appropriate for rehabilitation or conservation activities; or • Appropriate for the economic development of the community. A county may not include any land that is inside the limits of a municipality in a development district unless
Related Questions
- How are the proceeds of a unit’s property tax assessed against property in a project development financing district distributed?
- How is the assessed value of the property in the project development financing district determined each year?
- What type of property may be included in a municipal project development district?
