An approved site plan shall be void and the building permits, if any, shall be revoked if substantial construction is not started within one year and the entire project or approved phase is not completed within two years of signing of the site plan or site plan amendment by an authorized officer of the Planning Board.

The Planning Board may, at its discretion, after conducting a public hearing, grant an extension to an approved site plan. The applicant shall submit a written request 30 days prior to the site plan date of expiration, requesting an extension for a specified time and the reason therefor. In granting the extension, the Planning Board may require revision of the previously approved site plan to comply with current regulations and conditions.

The Planning Board shall render a decision, in writing, to the applicant and the other appropriate agencies within 45 days of closing the public hearing; provided, however, that the time within which the Planning Board must render its decision may be extended by mutual consent of the applicant and the Planning Board.

Any previously approved site plan, including a conditionally approved site plan, whether or not the conditions have been satisfied, shall be completed within three years of the date of adoption of this chapter (September 8, 2005) or it shall be subject to the requirements of this chapter.