(A) A
that has been vested as provided in this chapter
remain vested for a period of 2
unless otherwise terminated or unless specifically and unambiguously provided otherwise pursuant to the
subsection. This vesting
not be extended by any amendment or modification to a
unless expressly provided by the
at the time the amendment or modification is approved.
(B) Notwithstanding the provisions of the
division, the
provide that rights
be vested for a period exceeding 2
but not exceeding 5
, where warranted in light of all relevant circumstances, including, but not necessarily limited to, the size of the development, the level of investment, economic cycles and market conditions. Long-term, multi-phased projects of at least 25 acres may be vested for up to seven years. These determinations
be in the sole sound discretion of the
at the time the
is approved.
(Ord. passed 3-1-2004; Am. Ord. passed 10-13-2005; Am. Ord. 2021-03, passed 3-25-2021)