(A) (1) If a substantial amount of construction has not begun within the time stated in the approved construction schedule, the development plan shall lapse upon the written notice to the applicant from the Council and shall be of no further effect.
(2) However, in its discretion and for good cause, the Council may extend for a reasonable time the period for the beginning of construction.
(B) If a final development plan lapses, as per this section:
(1) The special use permit shall be automatically revoked;
(2) Any building permits shall automatically become null and void; and
(3) All regulations applicable before the PUD was approved shall automatically be in full effect.
(1960 Code, § 60-4-7)