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The General Assembly of North Carolina has passed Senate Bill 831, “An act to extend certain government approvals affecting the development of real property within the state". Realizing that as “a result of the crisis in the real estate finance sector of the economy, real estate developers and redevelopers, including home builders, and commercial, office, and industrial developers, have experienced an industry‑wide decline, including reduced demand, cancelled orders, declining sales and rentals, price reductions, increased inventory, fewer buyers who qualify to purchase homes, layoffs, and scaled back growth plans.” They have extended many improvement permits for a period of up to 3 years, … (4 comments)
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