This bill amends the "Uniform Shared Services and Consolidation Act" to allow local units to enter into or renew shared services agreements specifically for the development and operation of warehouses within their shared territories. The new legal language requires that these agreements specify terms and conditions for sharing the costs and revenues associated with the warehouse development, as well as the square footage of the warehouse involved. Additionally, the bill outlines that the agreements must include details on the specific services to be performed, standards of performance, estimated costs, duration, and payment procedures.

The intent of the bill is to provide municipalities with a mechanism to better manage warehouse developments, addressing concerns about overdevelopment or underutilization. Many municipalities have experienced situations where promised increases in property tax revenue from warehouse developments have not materialized, leading to empty or underused facilities. By allowing for shared agreements that clearly define financial expectations and responsibilities, the bill aims to enhance local governance and ensure that the benefits of warehouse developments are more equitably distributed among participating municipalities.

Statutes affected:
Introduced: 40A:65-7