NC S297

Allows the City of Winston-Salem to undertake economic development activities under G.S. 158-7.1 without complying with Article 8 of Chapter 143 of the General Statutes (state contract laws).

The exemption applies only when the activity occurs in an economically distressed area (where 40% or more of residents have income at or below the poverty threshold) and the city provides no more than 50% of the total project cost.

Requires the city to establish minority and women business participation goals for recipients of city funds and ensure good-faith effort to meet such goals.

Excludes federal loan funds from counting as city funds for purposes of calculating the city's cost contribution percentage.

Applies exclusively to Winston-Salem and expires on July 1, 2018.