NC S1120

Amends the charter of the City of Burlington to authorize the city council to make appropriations and provide economic incentives for residential development projects within municipal service districts established under G.S. 158-7.1, et seq.

Allows the city council to provide these incentives when residential development projects are likely to have a significant effect on the economic revitalization of the municipal service district.

Grants the city council authority to make loans and grants from public funds for revitalization projects that will have a significant revitalization effect on the city.

Became effective upon ratification on June 29, 2010.