Section 160D-1003 - Approval of governing board required(a) A local government may establish procedures and requirements, as provided in this Article, to consider and enter into development agreements with developers. A development agreement must be approved by the governing board of a local government following the procedures specified in G.S.160D-1005.(b) The development agreement may, by ordinance, be incorporated, in whole or in part, into any development regulation adopted by the local government. A development agreement may be considered concurrently with a zoning map or text amendment affecting the property and development subject to the development agreement. A development agreement may be concurrently considered with and incorporated by reference with a sketch plan or preliminary plat required under a subdivision regulation or a site plan or other development approval required under a zoning regulation. If incorporated into a conditional district, the provisions of the development agreement shall be treated as a development regulation in the event of the developer's bankruptcy.N.C. Gen. Stat. § 160D-1003
Added by 2019 N.C. Sess. Laws 111,s. 2.4, eff. 1/1/2021.Effective Date - S.L. 2019-111: Section 2.4 of 2019 N.C. Sess. Laws 111 added Chapter 160D, and section 3.2 made the act effective January 1, 2021. 2020 N.C. Sess. Laws 25,s. 51-a, eff. 6/19/2020, repealed § 3.2 of S.L. 2019-111. Section 51.(b) of S.L. 2020-25 provides: "Part II of S.L. 2019-111 is effective when this act becomes law [June 19, 2020]. Part II of S.L. 2019-111 clarifies and restates the intent of law existing on the effective date of this act and applies to ordinances adopted before, on, and after that date. Valid local government development regulations that are in effect at the time of the effective date of Part II of S.L. 2019-111 remain in effect but local governments shall amend those regulations to conform to the provisions of Part II of S.L. 2019-111 on or before July 1, 2021. Part II of S.L. 2019-111 applies to local government development regulation decisions made on or after the earlier of: (1) The effective date of the amendments to local development regulations made to conform to the provisions of Part II of S.L. 2019-111 or (2) July 1, 2021."