NY S07057

Authorizes the city of Gloversville and town of Johnstown (both in Fulton County) to enter into a cooperative agreement to share economic benefits from property development and annexation.

Requires any agreement between the municipalities to be approved by majority vote of each governing body and must identify property boundaries, fair market value of economic benefits, and types of services to be provided.

Obligates Gloversville to provide aggregate municipal services to Johnstown equivalent to the fair market value of property annexed from the town to the city.

Enables the arrangement to facilitate road construction on Fulton County Federal Credit Union land in exchange for water and sewer services to three resulting parcels, with the credit union property to be annexed into Gloversville.