Enhances transparency in exercise of municipal redevelopment powers.

This bill enhances transparency in how New Jersey municipalities exercise redevelopment powers by requiring clearer notice and more detailed information for property owners. It mandates that municipalities use ordinances instead of resolutions for redevelopment actions, require certified mail notices to property owners about hearings, and include a standardized Public Advisory Statement explaining that redevelopment areas may involve eminent domain (the power to take private property for public use). The bill also extends the planning board's review period from 45 to 90 days and removes exceptions allowing municipalities to lease or convey property without public bidding. These changes ensure property owners receive specific information about redevelopment processes and their rights before municipalities proceed with redevelopment projects.