NC S1295

Authorizes the Town of Matthews to participate in public-private development projects located in the central business district, along major transportation corridors, or in designated development zones.

Allows the Town Board of Commissioners to acquire, construct, own, and operate public-private projects if determined to be of significant economic benefit, and to enter binding contracts with private developers specifying property interests, construction responsibilities, financing, and operational duties.

Permits the Town to lease or convey property interests, including air rights over public facilities, by private negotiation or sale without applying Article 12 of Chapter 160A of the General Statutes.

Allows developers to construct the entire project if the contract includes provisions ensuring public facilities meet Town needs and are constructed at reasonable prices; exempts projects from Article 8 of Chapter 143 of the General Statutes if Town funds constitute no more than 50% of total project costs.

Authorizes the Town to contract for operation of public facilities by any person, partnership, firm, or corporation and to apply for federal or state grant funds to assist in financing the Town's share of the project.