NC S268

Authorizes cities to purchase property and demolish flood-prone buildings as part of stormwater management programs.

Allows cities to implement flood damage reduction techniques on private property, including elevating structures, demolishing flood-prone structures, and retrofitting structures, with the private property owner's written consent.

Requires cities to adopt a policy document establishing minimum standards, including that property owners contribute financially, that improvements be cost-effective compared to stormwater system improvements, and that city funding above a certain amount be reimbursed if the property sells within five years.

Mandates an existing stormwater advisory committee review and approve flood damage reduction projects and submit annual reports to city council.

Applies only to cities in counties with a population of 275,000 or greater that contain at least one city with a population of 225,000 or greater.