(A) If a substantial amount of construction has not begun within the time in the approved construction schedule, the PUD development plan shall lapse upon written notice to the applicant from the Mayor and City Council and shall be of no further effect.
(B) However, in its discretion and for good cause, the Mayor and City Council may extend for a reasonable time the period for commencement of construction. If a PUD development plan lapses pursuant to this section:
(1) The PUD permit shall automatically be revoked;
(2) Any building permits shall automatically become null and void; and
(3) All regulations applicable before the PUD was approved shall automatically be in full force and effect.
(1994 Code, § 154.57) (Ord. 2003-05, passed 7-28-2003)