17. The municipality or any redevelopment entity, authority or other instrumentality thereof, is authorized, by resolution, to make any land owned by it available for use for a project by an urban renewal entity, by private sale, at such prices and upon such terms and conditions as shall be agreed upon by the municipal governing body, redevelopment entity, authority or instrumentality and the urban renewal entity.
N.J. Stat. Ann. § 40A:20-17
Sale of land to an urban renewal entity
Known as the Long Term Tax Exemption Law
The act spans §§ 40A:20-1 to 40A:20-9 (27 sections).
L.1991,c.431,s.17.
Current official text: New Jersey Legislature. Digitized from the New Jersey Legislature bulk statutes download. Reproduced from public-domain New Jersey statutes; confirm against the official source for the current text. Not legal advice.