10. An area defined by a continuous border within one qualifying municipality shall be eligible for designation as a zone if:
a. It has been designated an "area in need of rehabilitation" pursuant to Article VIII, Section I, paragraph 6 of the Constitution of the State of New Jersey; or is qualified for that designation in the judgment of the authority; and
b. It meets the criteria established by the authority pursuant to P.L.1983, c.303 (C.52:27H-60 et seq.) relating to the incidence of poverty, unemployment and general economic distress.