Developing property with a private partner

(a) Any housing project may be developed under sections 356D-11 and 356D-12 by the authority in partnership or under a development agreement with a private party; provided that a written partnership or development agreement is executed by the authority. At a minimum, the partnership or development agreement shall provide for: (1) A determination by the authority that the partnership or development agreement is for a public purpose; and (2) Final approval by the authority of the plans and specifications for the housing project. (b) For the development of housing projects pursuant to subsection (a), except as provided by federal law or regulation, the authority shall not be subject to chapters 103 and 103D or any and all other requirements of law for competitive bidding for partnership or development agreements, construction contracts, or other contracts; provided that the authority shall develop internal policies and procedures for the procurement of goods, services, and construction, consistent with the goals of public accountability and public procurement practices. (c) The authority shall submit an annual report to the legislature, no later than twenty days prior to the convening of each regular session, on the status of all housing projects being developed using partnership or development agreements pursuant to subsection (a). (d) The authority may adopt rules pursuant to chapter 91 necessary for the purposes of this section.