§ 160A-400.29 - Validity and duration of agreement entered into prior to change of jurisdiction; subsequent modification or suspension.

NC Gen Stat § 160A-400.29 (2019) (N/A)

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160A-400.29. Validity and duration of agreement entered into prior to change of jurisdiction; subsequent modification or suspension.

(a) Except as otherwise provided by this Part, any development agreement entered into by a local government before the effective date of a change of jurisdiction shall be valid for the duration of the agreement, or eight years from the effective date of the change in jurisdiction, whichever is earlier. The parties to the development agreement and the local government assuming jurisdiction have the same rights and obligations with respect to each other regarding matters addressed in the development agreement as if the property had remained in the previous jurisdiction.

(b) A local government assuming jurisdiction may modify or suspend the provisions of the development agreement if the local government determines that the failure of the local government to do so would place the residents of the territory subject to the development agreement, or the residents of the local government, or both, in a condition dangerous to their health or safety, or both.

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§ 160A-400.28 - Amendment or cancellation of development agreement by mutual consent of parties or successors in interest.

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§ 160A-400.30 - Developer to record agreement within 14 days; burdens and benefits inure to successors in interest.