To obtain a redevelopment grant, a development authority shall apply to the commissioner. The governing body of the municipality must approve the application by resolution.
The commissioner shall prescribe and provide the application form. The application must include at least the following information:
(1) identification of the site;
(2) a redevelopment plan for the site;
(3) a detailed estimate, along with necessary supporting evidence, of the total redevelopment costs for the site;
(4) an assessment of the development potential or likely use of the site after completion of the redevelopment plan, including any specific commitments from third parties to construct improvements on the site;
(5) the manner in which the municipality will meet the local match requirement; and
(6) any additional information or material the commissioner prescribes.