(A) The Planned Unit Development shall be constructed in a timely manner. The Planned Unit Development shall be subject to revocation under the following conditions:
(1) Final plat approval does not occur within 12 months from the date of approval of the preliminary plat of a planned unit development.
(2) Construction does not commence and proceed within three years from the date of approval of the final plat of a Planned Unit Development.
(3) The Village Board may extend the time limits for final plat approval for no more than two 12-month periods. Commencement for construction may also be extended by the Village Board in one year increments.
(B) The owner of the parcel of land on which the Planned Unit Development is to be constructed may apply for the revocation of the Planned Unit Development at any time prior to the commencement of construction. In the event a change in circumstances occurs or additional information is received by the village which substantially affects the approved final plat prior to the commencement of construction, the village may consider revocation. In such an event, the village shall give the owner no less than 30 days prior notice, in writing, of a hearing to consider the revocation of the approval of the Planned Unit Development.
(C) The Village Board shall consider, but not be limited to, the following standards in the review of the status of the project construction to determine whether there is reasonable cause for delay:
(1) The original program of development with regard to market demand for the components included in the final plan;
(2) Conditions in the real estate finance market;
(3) General economic conditions in the local area, state or region;
(4) The ability and purposefulness of development operations for the Planned Unit Development; and
(5) Laws, ordinances or other regulations that may have affected timely development of the project.
(D) Upon consideration of the findings by the Village Board regarding the standards in § 157.253(C), the Village Board shall decide whether:
(1) To revoke those portions of the Planned Unit Development for which construction has not begun;
(2) To extend the time allotted for construction to commence based upon a revised schedule of construction; or
(3) To require special changes in the Planned Unit Development as a condition of a time extension, whereby such changes shall be deemed a "major change" to the Planned Unit Development.
(E) Upon revocation of a Planned Unit Development, the parcel of land shall conform to the permitted uses and other regulations of the underlying zoning district of which it is a special use unless an amendment or other special use is initiated by the Village Board or is applied for by the owner of the parcel of land on which the Planned Unit Development was to be constructed and granted by the Village Board.
(Ord. 97-19, passed 9-2-1997; Am. Ord. 06-03, passed 2-6-2006; Am. Ord. 14-27, passed 9-15-2014)