NC S460

City of Belmont is authorized to lease the Department of Transportation's interest in a portion of the former Belmont Branch of the Piedmont and Northern railroad right-of-way from State Road 2093 to Glenway Street for interim public recreation use.

City of Belmont must conduct a title examination, identify all property owners with interests in the corridor, and include all such owners as parties to the lease agreement.

City must hold a public hearing in accordance with G.S. 143-318.12, notify abutting property owners by first-class mail, and submit hearing transcripts to the Department of Transportation.

City assumes all development costs and management, security, and liability responsibilities, and must ensure adjacent property owners have broad voting representation in the organization managing the trail.

Department of Transportation must determine no active rail service will likely be needed for at least 10 years, and the lease must include terms allowing resumption of rail use without interruption to the corridor's ultimate transportation purposes.