A.    A building permit shall be secured and construction begun in accordance with the approved final development plat within eighteen (18) months from the effective date of the ordinance establishing such zone or other period of time as determined by the City Council. Application may be made one (1) time to the Building Official for not more than six (6) months extension of time limit for commencement of construction. Building permits shall be issued only for those uses and buildings indicated on the approved final development plat. Building permits shall not be issued until a financial guarantee guaranteeing the installation of improvements and landscaping has been accepted by the City.

    B.    In the event construction is not started within the specified time limits, the Planning Commission shall review the classification of the zone and the progress which has taken place and, if deemed necessary, revoke the plan approval and initiate proceedings to rezone the property to its prior classification or to a zone consistent with the comprehensive plan.

    C.    All construction authorized in the approved final development plat shall be completed within three (3) years of the date construction has commenced. A plan for stage development which will require more than the limits contained herein may be approved by the Planning Commission.

    D.    In the event construction is not completed within the time limits specified, the Planning Commission shall review the development which has taken place and, if necessary, initiate proceedings to reclassify the property or part thereof in a manner consistent with the comprehensive plan. (PZSC § 03-25-011)