Section 40:55D-117 - Report; infrastructure plan; amendment of master plan, land use regulationsPrior to the adoption of any development transfer ordinance, a municipality interested in adopting the ordinance shall:
a. Prepare a report that includes the following:(1) an estimate of the anticipated population and economic growth in the municipality for the succeeding 10 years;(2) the identification and description of all prospective sending and receiving zones;(3) an estimate of the development potential of the prospective sending and receiving zones;(4) an estimate of the typical land values of the proposed sending zone;(5) an estimate of existing and proposed infrastructure of the proposed receiving zone; and(6) a presentation of the procedure and method for issuing the instruments necessary to convey the development potential from the sending zone to the receiving zone.b. Cause to be prepared an infrastructure plan for the receiving zone, which includes the location and cost of all infrastructure and a method of cost sharing if any portion of the cost is to be assessed against developers. The plan shall be enacted by ordinance prior to or concurrent with enactment of any development transfer ordinance.c. Incorporate in its master plan and land use regulations explicit planning objectives and design standards for the receiving zone so that applications for development that maximize the use of development transfer and that are consistent with the planning objectives and design standards can be expedited. The municipality may, through application fees for development in the receiving zone, be reimbursed on a pro rata basis for the cost of amending its master plan and land use regulations. The development transfer ordinance shall not take effect until the report and plans required under this section have been prepared and the conclusions therefrom have been included in the master plan adopted pursuant to section 19 of P.L. 1975, c.291 (C.40:55D-28).