General assembly of north carolina

SECTION 13.14. Section 14.17 of S.L. 2011 145 reads as rewritten:

"SECTION 14.17.(a) Of the funds appropriated in this act to the North Carolina Rural Economic Development Center, Inc. (Rural Center), the sum of sixteen million five hundred five thousand seven hundred fifty eight dollars ($16,505,758)thirteen million four hundred sixty two thousand forty three dollars ($13,462,043)) for each year in the 2011 2013 biennium the 2012 2013 fiscal year shall be allocated as follows:

(1) To continue the North Carolina Infrastructure Program. The purpose of the Program is to provide grants to local governments to construct critical water and wastewater facilities and to provide other infrastructure needs, including technology needs, to sites where these facilities will generate private job creating investment. The grants under this Program shall not be subject to the provisions of G.S. 143 355.4.

(2) To provide matching grants or loans to local governments in distressed areas that will productively reuse vacant buildings and properties, with priority given to towns or communities with populations of less than 5,000.

(3) To provide grants and technical assistance to reinvigorate the economies of towns with populations of less than 7,500, and to invest in economic innovation that stimulates business and job growth in distressed areas.

(4) Recipients of grant funds appropriated under this section shall contribute a cash match for the grant that is equivalent to at least five percent (5%) of the grant amount. The cash match shall come from local resources and may not be derived from other State or federal grant funds or from funds provided by the Rural Center.

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"SECTION 14.17.(c) During each year of the 2011 2013 biennium,For the 2012 2013 fiscal year, the Rural Center may use up to three hundred twenty nine thousand one hundred seventy eight dollars ($329,178)three percent (3%) of the funds appropriated in this act section to cover its expenses in administering the North Carolina Economic Infrastructure Program.

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OPPORTUNITIES INDUSTRIALIZATION CENTERS FUNDS