§171-135  Joint venture or development
agreement.  (a)  An industrial park may be developed under section 171-134
by the department in partnership or under a development agreement with a
federal agency, county, or private party subject to a partnership or
development agreement executed by the chairperson of the board; provided that
if the industrial park is to be developed in partnership or under a development
agreement with a private party, the private party shall be selected in
accordance with section 103D-302 or 103D-303.  At a minimum, the agreement
shall provide for:



(1)  A determination by the board that the partnership
agreement or the development agreement is for a public purpose;



(2)  Long-term assurance that the public land within
the industrial park will be utilized for industrial uses;



(3)  Final approval by the board of the plans and
specifications for the industrial park;



(4)  Exclusive authority by the board to issue leases
or master leases within the industrial park; and



(5)  Conditions to ensure a public benefit from any
state funds expended for the industrial park.



(b)  Notwithstanding any other provision of law
to the contrary, a partnership or development agreement entered into pursuant
to subsection (a) may provide for:



(1)  The board to issue master leases within an
industrial park by negotiation, without regard to the limitations provided in
sections 171-16(c) and 171-59(a), to the entity that developed the industrial
park or the nominee or nominees of the entity that developed the industrial
park; and



(2)  A master lease with terms and conditions upon
which the master lessee may issue tenant subleases within the industrial park
without the consent of the board. [L 1988, c 361, pt of §1; am L 1991, c 173,
§2; am L 2002, c 139, §2]