NC S1122

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

Allows the city council to make appropriations and authorize incentives for residential development projects likely to have a significant effect on economic revitalization of a municipal service district.

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

Becomes effective upon enactment.