When the Board or hearing officer fails to render a decision and notify the applicant within 45 days after the hearing, or fails to hold the public hearing within 60 days of receiving the request for one, the decision shall be deemed to have been rendered in favor of the applicant, unless the applicant and the Board have agreed, in writing, to a specific time extension. If the Board fails to schedule a hearing or render a decision within the prescribed time limits, the Board shall place a public notice in a newspaper of general local circulation within 10 days of the expiration of the period for commencing the hearing or making the decision, indicating that the request or appeal has been decided in favor of the applicant. In addition, the affected property shall be posted with the same information, and those who have requested written notice shall be mailed the notice within the ten-day period.