A. A Protected Development Right established under a Protected Development Right Plan is valid for three years for a Non-Phased development or five years for a Phased development.
B. A city or town may extend for a maximum of two additional years the duration of a Protected Development Right obtained through approval of a Protected Development Right Plan, if a longer time period is warranted by all relevant circumstances, including the size, type and phasing of the development on the property, the level of investment of the Landowner, economic cycles and market conditions. The decision to extend the time period for a Protected Development Right is in the discretion of the City. However, a Protected Development Right shall not remain established for more than five years for a Non-Phased development or seven years for a phased development.
C. A Protected Development Right terminates at the end of the applicable period established under this section. If a building permit has been issued before the date of termination of a Protected Development Right, the Protected Development Right remains valid until the building permit expires, but in no event for longer than one year. On expiration, only principal structures for which footings or foundations have been completed may be finished under the Protected Development Right. On the expiration of a Protected Development Right, development may continue based on a valid building permit and according to standards in effect at that time. An unexpired building permit issued for a property with a Protected Development Right neither expires nor shall be revoked merely because a Protected Development Right expires under the time limitations specified in this section.
(Ord. 1397.17.30 § 1 (part), 2002)