TITLE
Title
PUBLIC HEARING ON PROPOSED ALLOCATION OF FUNDS FOR ECONOMIC DEVELOPMENT GRANTS UP FOR CONSIDERATION FOR APPROPRIATIONS IN CONJUNCTION WITH THE ADOPTION OF THE FY2018-19 ANNUAL BUDGET
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BACKGROUND
Background
Session Law 2015-277 requires local governments to issue notice and hold a public hearing prior to approval of any appropriation for economic development pursuant to N.C. Gen. Stat 158, Article 1. Previously, such hearings were required only when an economic development appropriation was related to real property or to an incentive payment for private businesses. The statutory changes standardize the treatment of appropriations for economic development by making all appropriations subject to public hearing requirements.
REQUESTED ACTION
Requested Action
Hold public hearing pursuant to N.C. General Statute 158-7.1, for purposes of receiving input on the proposed allocation of funds for the following Economic Development Incentive Grants attached hereto.