NC S249

Grants the town of Morrisville authority to require developers of multifamily units to provide funds for acquiring recreational land to serve multifamily developments.

Allows funds collected to be combined with funds from residential subdivisions under G.S. 160A-372 and requires the funds be used only for acquisition or development of recreation, park, or open space sites.

Requires any formula determining fund amounts to be based on a flat fee per unit and allows the town council to approve combinations of partial fund payments and partial land dedication.

Extends existing authority previously granted only to the town of Cary under S.L. 2007-321 to also apply to the town of Morrisville.

Becomes effective upon enactment.