All approvals heretofore or hereafter granted by the Planning Board, Zoning Board of Adjustment or Borough Council reviewing a development application on appeal must be acted upon within the period of time established in the resolution of the development board reviewing the application, provided, however, that such period of time shall not exceed one year. In the event the approval is not acted upon within the aforesaid period, the applicant may make a request in writing to the board granting the development application for an extension of the approval for a period not to exceed one year. The power to grant such extension shall be within the sole discretion of the development board and shall be made by resolution of the board without additional notification requirements as provided in this chapter or as set forth in N.J.S.A. 40:55D-12.