The Planning Board or Zoning Board, when acting
upon applications for preliminary or final subdivision or site plan
approval, shall have the power to grant such waivers from the requirements
of this chapter as may be reasonable and within the general purpose
and intent of this chapter where the literal enforcement of one or
more of the provisions of this chapter is impracticable or will exact
undue hardship because of particular conditions pertaining to the
land in question. However, the Planning Board shall state its reasons
for granting any such waiver in the resolution passed in connection
with the application.