NC H2062

Modifies subdivision control ordinance requirements for the City of Kannapolis to allow developers to provide funds in lieu of street or sidewalk construction to serve commercial or residential sites, subdivisions, or developments.

Expands allowable uses of in-lieu fees to include roads, sidewalks, or community service facilities, and permits these funds to serve multiple commercial or residential sites, subdivisions, or developments within an area according to a comprehensive land-use plan.

Removes previous requirement that in-lieu funds be used only for road development and eliminates the trip-generation formula method for calculating developer contributions.

Allows developers to choose their own type of performance guarantee from a city-specified range of options, including surety bonds or letters of credit.

Applies exclusively to the City of Kannapolis and areas covered by its subdivision control ordinance.