(a) Consistent with the improvement plan, the assessing party may fix, revise, charge, collect and abate infrastructure assessments, for the cost, maintenance, operation and administration of the improvements imposed on the real estate, leaseholds or other interests therein, located in the development zone. All real estate within a development zone owned by the commonwealth or any political subdivision, political instrumentality, agency or public authority thereof shall be exempt from such charges unless the charges are specifically accepted by the commonwealth, political subdivision, political instrumentality, agency or public authority. In providing for the payment of the cost of the improvements or for the use of the improvements, the assessing party may avail itself of all other laws relative to the assessment, apportionment, division, fixing, reassessment, revision, abatement and collection of infrastructure assessments by cities and towns or the establishment of liens therefor and interest thereon and the procedures set forth in sections 5 and 5A of chapter 254 for the foreclosure of liens arising under section 6 of chapter 183A, as it shall deem necessary and appropriate for purposes of the assessment and collection of infrastructure assessments. The assessing party shall file copies of the improvement plan and any amendments thereof and all schedules of assessments with the appropriate registry of deeds and the municipality's assessors so that notice thereof shall be reported on a municipal lien certificate for any real estate parcel located in a development zone. Notwithstanding any general or special law to the contrary, the assessing party may pay the entire cost of any improvements, including the acquisition thereof, during construction or after completion, or the debt service of notes or bonds used to fund such costs, from infrastructure assessments and may establish such infrastructure assessments before, during or within 1 year after completion of construction or acquisition of any improvements. The assessing party may establish a schedule for the payment of infrastructure assessments not to exceed 25 years. The assessing party shall hold at least 1 public hearing on its schedule of infrastructure assessments or any revision thereof prior to adoption by the assessing party, notice of which shall be delivered to the municipality and published in a newspaper of general circulation in the municipality at least 14 days in advance of the hearing. Not later than the date of the publication, the assessing party shall make available to the public and deliver to the municipality the proposed schedule of infrastructure assessments. Notwithstanding any general or special law to the contrary, the assessing party may contract with the agency for any services required by the assessing party regarding the assessment, apportionment, division, fixing, reassessment, revision, collection and enforcement of infrastructure assessments under this chapter and the fees, costs and other expenses for these services may be included in the calculation of the infrastructure assessments levied by the assessing party under this chapter.
The infrastructure assessments established by the assessing party in accordance with this chapter shall be fixed in respect of the aggregate thereof so as to provide revenues at least sufficient to: (i) pay the administrative expenses of the assessing party and the agency; (ii) pay the principal of, premium, if any, and interest on bonds, notes or other evidences of indebtedness of the agency under this chapter as the same becomes due and payable; (iii) create and maintain such reasonable reserves as may be reasonably required by any trust agreement or resolution securing bonds; (iv) provide funds for paying the cost of the operation and necessary maintenance, repairs, replacements and renewals of the improvements; and (v) pay or provide for any amounts that the agency, including reasonable administrative fees, may be obligated to pay or provide for by law or contract, including any resolution or contract with or for the benefit of the holders of its bonds and notes.
Notwithstanding any general or special law to the contrary, the agency shall not be precluded from carrying out its obligations under this chapter if it has previously provided technical, real estate, lending, financing or other assistance to: (i) an infrastructure development project including, but not limited to, a project in which the agency may have an economic interest; (ii) a development zone; or (iii) a municipality associated with, or that may benefit from, an infrastructure development project.