If no substantial construction has begun or no use established or no extension is requested in the planned development within the time stated in the approved final development plan and construction schedule, the PUD classification for the planned development shall lapse upon written notice to the applicant from the village board and shall be of no further effect. The land use and development regulations applicable before the PUD classification for planned development was approved shall then be in effect. In its discretion and for good cause, the village board may extend for a reasonable time, not to exceed one year, the period from the beginning of construction or the establishment of a use, provided such extension is requested during the original period. (Ord. 2004-10, 6-8-2004)