A.
The Planning Board is hereby authorized to grant general development plan approval as provided in this article XVI and pursuant to the Municipal Land Use Law, N.J.S.A. 40:55D-1 et seq. The term "general development plan" means a comprehensive plan for the development of a planned development, including a controlled waterfront development under Article VI, as provided in this article.
B.
Any developer of a parcel of land greater than 100 acres in size, for which the developer is or shall be seeking approval of a planned development pursuant to the Municipal Land Use Law, may submit a general development plan to the Planning Board prior to the granting of preliminary site plan or major subdivision approval of that development by the Planning Board.
C.
The Planning Board shall grant or deny general development plan approval within 95 days after submission of a complete application which has been certified by the Secretary of the Planning Board or within such further time as may be consented to by the applicant in writing. Failure of the Planning Board to act within the period prescribed shall constitute general development plan approval of the planned development.
D.
The planned development shall be developed in accordance with the general development plan approval by the Planning Board notwithstanding any provision of the Municipal Land Use Law, N.J.S.A. 40:55D-1 et seq., enacted after the effective date of the general development plan approval.
E.
The duration of the effect of the general development plan approval shall be determined by the Planning Board using the guidelines set forth in this subsection, except that the term of the effect of the approval shall not exceed 20 years from the date upon which the developer receives final approval of the first section of the planned development pursuant to the Municipal Land Use Law, N.J.S.A. 40:55D-1 et seq. In making its determination regarding the duration of the effect of approval of the general development plan, the Planning Board shall consider the number of dwelling units, phasing of construction and coordination of the same, the amount of nonresidential floor area to be constructed, construction of infrastructure and service facilities, prevailing economic conditions, the timing schedule to be followed in completing the development and the likelihood of its fulfillment, the developer's capability of completing the proposed development and the contents of the general development plan and any conditions which the Planning Board attaches to the approval thereof.