A zoning right that has been vested as provided in this section shall terminate:
(A) At the end of the applicable vesting period with respect to buildings and uses for which no valid building permit application has been filed;
(B) With the written consent of the affected landowner;
(C) Upon findings by the Town Council, by ordinance after notice and a public hearing, that natural or man-made hazards on or in the immediate vicinity of the property, if uncorrected, would pose a serious threat to the public health, safety, and welfare if the project were to proceed as contemplated in the site specific development plan;
(D) Upon payment to the affected landowner of compensation for all costs, expenses, and other losses incurred by the landowner, including, but not limited to, all fees paid in consideration of financing, and all architectural, planning, marketing, legal and other consultants' fees incurred after approval by the Town, together with interest thereon at the legal rate until paid. Compensation shall not include any diminution in the value of the property which is caused by such action;
(E) Upon findings by the Town Council, by ordinance after notice and public hearing, that the landowner or his or her representative intentionally supplied inaccurate information or made material misrepresentations which made a difference in the approval by the Board of Adjustment of the site specific development plan; or
(F) Upon enactment or promulgation of a state or federal law or regulation that precludes development as contemplated in the site specific development plan, in which case the Town Council may modify the affected provisions upon a finding that the change in state or federal law has a fundamental effect on the plan, by ordinance after notice and a hearing.
(1989 Code, Title V, Ch. 51, Art. XVI, § 1605) (Ord. 2021-03, passed 6-8-2021)