N.J. Stat. § App.A:9-51.3: Contents of ordinance; exceptions

Such ordinance shall designate the specific part or parts of the municipality to which it shall apply and shall further provide that:

(a) repairs may be made to any building or structure within the prohibited area if the cost of such repairs will not exceed an amount equal to 40% of the assessed value of the building or structure based at 100% of true value at the time of damage; and

(b) repairs may be made to any building or structure to the extent necessary to maintain such building or structure in a safe and sound condition. If such repairs are not possible or feasible, the ordinance shall authorize the demolition of the building or structure.

L.1962, c. 44, s. 3.