40A:20-11. Municipal determinations as to tax exemptions and service charges
117 words·~1 min read·
/nj/title-40a/chapter-20/40a-20-11A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
11. A financial agreement approved pursuant to this act shall include findings by the municipality, approved by the municipal governing body, setting forth appropriate tax exemption provisions and an appropriate annual service charge schedule which shall be based upon the provisions of section 12 of this act and the municipality's determinations as to:
a. The relative benefits of the project to the redevelopment of the redevelopment area when compared to the costs, if any, associated with the tax exemption;
b. An assessment of the importance of the tax exemption to be granted in obtaining the development of the project and in influencing the locational decisions of probable occupants of the project or units of the project.
L.1991,c.431,s.11.