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North Cazolina General Assembly - ]Short Title: Monetary Compensation -Outdoor Adv.... Page 2 of.3 <br />recfuirinq its removal, less the fair market value of the ~,'~ / <br />off-premises outdoor advertising immediately after its removal. ~/ <br />(3) The purchase price of the rights to <br />erect and maintain the advertising. <br />(4) The income derived from the <br />advertising. <br />(5) The sales price of similar <br />property_ <br />(6) The listed property tax value of the <br />Aroperty and any documents regarding value <br />submitted to the taxing authority <br />(e) In lieu of monetary compensation, a local <br />notice of its intent to require removal of outdoor advertisin <br />by sending a letter by certified mail to the last known address <br />of the owners of the outdoor advertising and the owners of the <br />property on which the outdoor advertising is located. <br />(~ If the parties fail to enter into an agreement <br />http://www.ncgastate.nc.us/htm1200.3/bills/CurrentV ersion/Senate/Sbi11056,fulhhhnl 5/27/2004 <br />with the advertising, less any placement or agency fees, over <br />the preceding five years. <br />(I) The factors listed in <br />subsection may allow for the removal of the advertising after a <br />set period of time in lieu of monetary compensation. A local <br />governmental entity may adopt an ordinance or resolution <br />disagreements between the parties. If no agreement to arbitrate <br />is reached, jurisdiction under this section shall be in the <br />(h) A local governmental entity may take up to <br />three years from the effective date of an ordinance requiring <br />payment of monetary compensation under this section to make the <br />compensation, if the ordinance allows the affected property to <br />the period of amortization in effect on the effective date of <br />this section. No provision of this section applies to outdoor <br />