NC S241

Authorizes the City of Raleigh to sell, exchange, or transfer real property through public sale or negotiated private sale when determined to advance adopted economic development, transportation, urban revitalization, community development, or other city policies.

Permits the city to attach covenants, conditions, or restrictions to property transfers that the city deems necessary to further adopted policies or plans.

Allows consideration received for property conveyances to reflect the restricted use of the property resulting from any attached covenants, conditions, or restrictions.

Requires any conveyance under this authority to be authorized by a City Council resolution and mandates at least 10 days' notice via legal advertising prior to council adoption of the resolution.

Notice requirements must include a general description of the property, the nature of the interest being conveyed, all material transaction terms including any restrictions, and the time and place of the council meeting where the transaction will be considered.