Permits … 50 year local public contracts for certain capital improvements and extends prevailing wage requirements to certain work performed under those contracts.
Second, contracts for the provision or performance of goods and services that require: (i) a total capital expenditure of more than $300,000, including expenditures by the lessee; or (ii) a capital improvement that has a life expectancy upon completion greater than 20 years, may be for a period of up to 50 years. The chief financial officer of the local government unit, however, is required to certify that the capital expenditure or capital improvement requirement is satisfied. The prevailing wage would have to be paid for any construction project under these capital improvement contracts.