What reduces an improvement's performance guarantee when partial approval has been granted?

The correct choice is tied to NJSA 40:55D-53e, which specifically addresses the circumstances surrounding performance guarantees in the context of partial approvals. When a project receives a partial approval, this statute allows for the reduction of the performance guarantee associated with the improvements, acknowledging that the obligations of the developer may be lessened when only a portion of the project has been approved and completed.

This means that a developer is not responsible for the full performance guarantee of the unapproved portions of the project, thus facilitating progress on the parts that have received approval without imposing unnecessary financial burdens for the parts yet to be greenlit. This can streamline the development process and provide flexibility to both developers and municipalities, allowing for better management of resources and timelines.

This aspect of the statute underlines its importance in the development approval process, as it encourages developers to proceed with approved projects while providing clear guidelines on performance guarantees.