What type of property may be included in a municipal project development district?
There are two different kinds of project development district options available to municipalities. G.S. 160A-515.1 allows a municipality’s governing body to establish a project development district which is comprised of all or part of one or more redevelopment areas. A municipality’s planning commission, as established by municipal ordinance, may designate the following types of property as a redevelopment area: • Property that is blighted because of dilapidated, deteriorated, aged, or obsolete buildings; inadequate ventilation, light, air, sanitation, or open spaces; high density of population or overcrowding; or unsanitary or unsafe conditions; • A nonresidential redevelopment area with dilapidated, deteriorated, aged, or obsolete buildings; inadequate ventilation, light, air, sanitation, or open spaces; defective or inadequate street layout of faulty lot layout; tax or special assessment delinquency exceeding the value of the property; or unsanitary or unsafe conditions; • A rehabil
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 county project development district?
