[Amended 7-21-2011 by L.L. No. 2-2011]
Site plan approval shall automatically terminate one year after the same is granted by the Village Board of Trustees unless a building permit has been issued and there is physical evidence to demonstrate that substantial construction has taken place and is continuing. Upon application to the Village Board of Trustees, the site plan approval may be extended for an additional one-year period, upon a showing that the conditions existing at the time of the approval have not changed and that substantial steps to commence the project have been lawfully undertaken and an additional fee has been paid to the Village in such amount as determined, from time to time, by resolution of the Board of Trustees.