North Carolina S203 authorizes the City of Wilmington to sell, exchange, or transfer real property with restrictions.
North Carolina S203 amends the Charter of the City of Wilmington to allow the city to sell, exchange, or transfer real property subject to restrictions. The City Council can attach covenants, conditions, or restrictions to the transfer, reflecting the restricted use of the property. The bill requires detailed development plans and notice to be given at least 10 days prior to adoption of the resolution. The act is effective immediately upon becoming law.
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