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In a phrase, no. Particularly, the property conveyances are problematic unless topic to very particular circumstances, and the EDC can’t retain the proceeds from the sale of county land to businesses. Actually, G.S. 158-7.1(d) states that the worth paid by companies for land might not be lower than” the fair market value” of the property. Bottom line: The county, not the EDC, would deal with the ultimate sale to a company and would retain any proceeds from the sale.
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Although this feature is cumbersome, the county might convey the property to the EDC for no financial consideration beneath the everyday G.S. 160A-279 requirement that the EDC put the property to a public use. As soon as the EDC found a personal company to locate within the park, the property to be bought would be returned to the county because the EDC not intends to put it to a public use.
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