Sec. 6.36. - [Low and moderate housing.]

Findings and declarations. It is hereby found and declared that there is a serious shortage of decent, safe and sanitary housing available at low prices or rentals to persons and families of low and moderate income, and that private enterprise without assistance has been unable to meet that need in the Town of Chapel Hill. These conditions contribute to urban blight and retard sound development and redevelopment, thereby necessitating the following provisions to alleviate such conditions in the public interest.

In addition to the other authority granted by law, the Town of Chapel Hill may engage in and appropriate and expend any public funds for housing programs and activities for the benefit of low and moderate income persons, and to engage in the following activities for the benefit of low and moderate income persons; programs of assistance and financing of rehabilitation efforts, including direct repair and the making of grants or loans; the purchase, lease or disposition of property for housing sites; and the construction; reconstruction, improvement or alteration of housing or housing projects. The Town of Chapel Hill may enter into contracts or agreements with any person, association, partnership, corporation or another governmental agency to undertake, carry out or otherwise exercise the authority granted by this section. This authority shall be considered a part of the town's community development enabling authority.

This Title shall apply to the Town of Chapel Hill only.

(Acts 1987, Ch. 460, §§ 14—16)