The Planning Board, when acting as a Board of Adjustment, shall render a decision not later than 120 days after the date an appeal is taken from the decision of an administrative officer or the submission of a complete application for development to the Planning Board. Notwithstanding the above, where separate and subsequent applications are filed pursuant to § 28-4.4b.7(b) above, the time for determining the separate variance application shall be 120 days, and the time for approval of the subsequent application shall be the normal time provided therefore pursuant to the applicable provisions of this chapter.

Failure of the Board to render a decision within such 120 day period or within such further time as may be consented to by the applicant, shall constitute a decision favorable to the applicant.

An appellant or applicant for development may request or consent to a request for an extension of time by the Planning Board to render a decision on an appeal or complete application for development. Any such extensions of time shall be for a definite period, shall be evidenced by a writing filed by the applicant or appellant with the secretary of the Planning Board, which writing shall become part of the record of the proceedings, or shall be stipulated by the appellant, applicant or their authorized representative at a public hearing, which stipulation shall become part of the record of the proceedings.