If the work described in any zoning permit has not begun within one calendar year from the date of issuance thereof, said zoning permit shall expire. It shall be revoked by the Zoning Inspector and written notice shall be given to the persons or business entity affected. If the work described in any zoning permit has not yet been substantially initiated within one year of the date of issuance thereof, said permit shall expire and be revoked by the Zoning Inspector. “Substantially initiated” shall mean expending monies towards completing the project equal to at least 25% of the value of the total work to be performed. A written notice shall be given to the persons or business entity affected, together with notice that further work, as described in the canceled permit, shall not proceed unless and until a new zoning permit has been obtained or an extension granted. The Zoning Inspector may only issue one extension for an additional calendar year based on good cause shown by the applicant.