The issuance of a development permit shall confer with it the right to undertake and complete the development of property under the terms and conditions of such permit provided that such action as authorized by the permit is commenced within three hundred and sixty-five (365) days of issuance and provided that all other permits have been obtained, otherwise applicant can apply for renewal or shall be void. Where a valid vested rights certificate has been issued, the term of a development permit for the area contained within the vested rights certificate shall be for the term of the vested rights certificate.