NC H887

Allows governmental entities (state and local subdivisions) to enter into binding contracts with private developers for public-private partnership projects involving capital improvements, buildings, infrastructure, and facilities.

Permits governmental entities to acquire, construct, own, lease, and operate public-private projects or specific facilities within such projects, with contracts specifying property interests, responsibilities, and financing obligations of all participants.

Authorizes private developers to be responsible for construction, reconstruction, repair, renovation, additions, and equipment purchases for projects, and requires private developers to provide payment bonds for construction work.

Allows governmental entities to select private developers based on qualifications submissions including financial stability, construction experience, licensure, proposed design and construction teams, and project timeline.

Requires governmental entities to advertise programming requirements and proposed contract terms in newspapers at least 10 days before consideration at a regularly scheduled meeting.