NC H1919

Town of Matthews authorized to participate in public-private development projects located in central business district, major transportation corridors, or designated development zones that combine public and private facilities.

Town Board of Commissioners may acquire, construct, own, and operate projects or enter into binding contracts with private developers if project is likely to provide significant economic benefit to the area.

Contracts between Town and developers may specify property interests, construction responsibilities, financing responsibilities, and operational responsibilities for the project.

Town may lease or convey property interests including air rights without compliance with Chapter 160A Article 12 requirements, and may contract for operation of public facilities by public or private entities.

Public facility construction is exempt from North Carolina prevailing wage laws (Chapter 143 Article 8) if Town funds do not exceed 50% of total project costs, but payment bonds are still required regardless of funding source.