Enhances transparency in exercise of municipal redevelopment powers.

This New Jersey bill requires municipalities to use formal ordinances (not resolutions) when designating redevelopment areas, with enhanced notice requirements for affected property owners. It mandates detailed public notices that clearly identify properties in redevelopment areas and include a "Public Advisory Statement" explaining redevelopment powers, including the potential for eminent domain. Property owners must receive certified mail notice of proceedings with specific information about their rights, and municipalities must hold public hearings on redevelopment plans. The bill also removes exceptions allowing municipalities to lease or convey property without public bidding, increasing transparency in the redevelopment process for residents and property owners.