Notwithstanding any other law, the governing body of a county or municipality may designate a transportation reinvestment zone for a transportation project located outside the boundaries of the county or municipality if:
(1) the county or municipality finds that:
(A) the project will benefit the property and residents located in the zone; and
(B) the creation of the zone will serve a public purpose of that county or municipality;
(2) a zone has been designated for the same project by one or more counties or municipalities in whose boundaries the project is located; and
(3) an agreement for joint support of the designated zones is entered into under this section by:
(A) the county or municipality whose boundaries do not contain the project; and
(B) one or more of the counties or municipalities that have designated a zone for the project and in whose boundaries the project is located.