(A)   A planned development district shall lapse and become null and void one year following the date of planned development zoning approval, unless prior to the expiration of one year, a building permit is issued by the Building Official and development is commenced and diligently pursued toward completion on the subject site, or unless a staged development plan beyond one year was approved as a part of the original planned development conditions of approval.
   (B)   A planned development district approval may be renewed for a second one-year period by the City Council for good cause.
(Ord. passed 10-11-1963)