Vested rights established under this section are not mutually exclusive. The establishment of a vested right under this section does not preclude the establishment of one or more other vested rights or vesting by common law principles. Vested rights established by local government approvals are as follows:
(A) Building permits. Pursuant to G.S. § 160D-1111, a building permit expires six months after issuance unless work under the permit has commenced. Building permits also expire if work is discontinued for a period of 12 months after work has commenced.
(B) Other local development approvals. Pursuant to G.S. § 160D-403(c), unless otherwise specified by statute or local ordinance, all other local
s expire one year after issuance unless work has substantially commenced. Expiration of a local development approval shall not affect the duration of a vested right established under this section or vested rights established under common law.
(C) Site-specific vesting plans.
(1) A vested right for a
shall remain vested for a period of two years. This vesting shall not be extended by any amendments or modifications to a
unless expressly provided by the town.
(2) The town may provide that rights regarding a
shall be vested for a period exceeding two years, but not exceeding five years, if warranted by the size and phasing of development, the level of investment, the need for the development, economic cycles, and market conditions, or other considerations. This shall be in the discretion of the town and shall be made following the process specified for the particular form of a
involved.
(D) Multiphase developments. A multiphase development shall be vested for the entire development with the zoning regulations, subdivision 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.
(E) Indefinite development agreements. A vested right of reasonable duration may be specified in any approved development agreement.
(Ord. 2005-O3, passed 3-15-2005; Am. Ord. 2021-O3, passed 5-24-2021)