(A) A zoning right that has been vested as provided in this subchapter shall remain vested for a period of two years unless specifically and unambiguously provided otherwise pursuant to division (B) below. This vesting shall not be extended by any amendments or modifications to a site-specific vesting plan unless expressly provided by the approval authority at the time the amendment or modification is approved.
(B) Notwithstanding the provisions of division (A) above, the approval authority may provide that rights shall be vested for a period exceeding two years but not exceeding five years where warranted in light of all relevant circumstances, including, but not limited to, the size of the development, the level of investment, the need for or desirability of the development, economic cycles and market conditions. These determinations shall be in the sound discretion of the approval authority at the time the site specific vesting plan is approved.
(C) Upon issuance of a building permit, the expiration provisions of G.S. § 160D-403(f) shall apply, except that a building permit shall not expire or be revoked because of the running of time while a zoning vested right under this section is outstanding.
(D) In accordance with G.S. § 160D-108, a multiphase development shall be vested for the entire development with the regulations, and unified development ordinances in place at the time a site plan approval is granted for the initial phase of the multiphase development. This right shall remain vested for a period of seven years from the time a site plan approval is granted for the initial phase of the multiphase development. For purposes of this division, MULTIPHASE DEVELOPMENT means a development containing 100 acres or more that (i) is submitted for site plan approval for construction to occur in more than one phase and (ii) is subject to a master development plan with committed elements, including a requirement to offer land for public use as a condition of its master development plan approval.
(Prior UDO, § 22.5) (Ord. passed - - )