New Jersey Statutes Title 40A. Municipalities and Counties 40A § 21-8

If the ordinance shall provide for tax agreements for the exemption and abatement from taxation for construction of commercial or industrial structures, or multiple dwellings, or both, the ordinance shall set forth procedures for entering into agreements for the exemption and abatement of real property taxes in accordance with the provisions of sections 9 through 12 of P.L. 1991, c. 441 (C.40A:21-9 through 40A:21-12). All tax agreements shall be applied for and granted on a project basis.