The Planning Board shall also have the power to pass finally upon any site plan submitted in connection with any proposed development upon which it is empowered to take final action under any provision of this chapter. The Planning Board is hereby authorized, among other things, to review and approve, approve with modifications or disapprove any such site plan as to the size, location, character, architectural features and suitability of all buildings and facilities relating thereto, including the safety, adequacy and convenience of public and private ways, walks, streets and highways, required off-street parking and loading areas, access drives and turning areas related thereto, yards, landscaping, shrubbery screens, signs and required open spaces in relation to each other and to pedestrian and vehicular traffic and to the proposed use and the use and enjoyment of adjacent properties. In addition, the Planning Board shall consider the factors of drainage, road alignment, availability of sewer and water facilities and other engineering aspects of such site plan, and may require the review of such factors by engineering authorities, technical personnel or commissions which may be concerned with any proposed site plan. The Planning Board shall have the power to waive site plan requirements pursuant to § 7-725-a of the Village Law of New York State.