The Hearing Board or the hearing officer, as the case may be, shall render a written decision or, when no decision is called for, make written findings on the application within 45 days after the last hearing before the Hearing Board or hearing officer. Each decision shall be accompanied by findings and conclusions based thereon, together with the reasons there for. Conclusions based on any provisions of this chapter or of any act, rule or regulation shall contain a reference to the provision relied on and the reasons why the conclusion is deemed appropriate in the light of the facts found. If the hearing is conducted by a hearing officer and there has been no stipulation that this decision or findings are final, the Hearing Board shall make its report and recommendations available to the parties, and the parties shall be entitled to make written representations thereon to the Hearing Board prior to final decision or entry of findings. Where the Hearing Board has power to render a decision and the Hearing Board or the hearing officer, as the case may be, fails to render the same within the forty-five-day period required by this subsection, and unless the applicant has agreed or shall agree in writing to an extension of time, the decision shall be deemed to have been rendered in favor of the applicant