Any application for extension of variance approval shall require compliance with the noticing provisions of N.J.S.A. 40:55D-12 which includes certified mailing to an up-to-date list of property owners within 200 feet and publication at least 10 days in advance of the date of hearing. The Board may extend variances for good cause shown and for a period not to exceed two years. In all such cases, in addition to the reasons for the delay and any hardship the applicant asserts will be occasioned by the expiration of the variance, the Board shall consider all relevant changed circumstances, including but not limited to changes in the City’s Master Plan or development regulations, changes in the subject property and changes in the surrounding area.