4. a. A municipality may enter into a land banking agreement with a redevelopment entity, and designate the redevelopment entity as its land bank entity.

b. A municipality may enter into a land banking agreement with a non-profit entity so long as the by-laws of the non-profit entity provide that the chief financial officer of the municipality serves on the board of the non-profit entity, ex officio.

L.2019, c.159, s.4.