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development, economic cycles, and market conditions. These detemfinations shall be <br /> in the sound discretion of the county. <br /> <br /> (3) Notwithstanding the provisions of(d)(1) and (d)(2), the county may provide by <br /> ordinance that approval by a county of a phased development plan shall vest the <br /> zoning classification or classifications so approved for a period not to exceed five <br /> years. The document that triggers such vesting shall be so identified at the time of its <br /> approval. The county still may require the landowner to submit a site specific <br /> development plan for approval by the county with respect to each phase or phases in <br /> order to obtain final approval to develop within the restrictions of the vested zoning <br /> classification or classifications. Nothing in this section shall be construed to require a <br /> county to adopt an ordinance providing for vesting of rights upon approval of a <br /> phased development plan. <br /> <br /> (4) Following approval or conditional approval of a site specific development plan or a <br /> phased development plan, nothing in this section shall exempt such a plan from <br /> subsequent reviews and approvals by the county to ensure compliance with the <br /> terms and conditions of the original approval, provided that such reviews and <br /> approvals are not inconsistent with said original approval. Nothing in this section <br /> shall prohibit the county from revoking the original approval for failure to comply <br /> with applicable terms and conditions of the approval or the zoning ordinance. <br /> <br /> (5) Upon issuance of a building permit, the provisions of G.S. 153A-358 and G.S. <br /> 153A-362 shall apply, except that a permit shall not expire or be revoked because of <br /> the running of time while a vested right under this section is outstanding. <br /> <br /> (6) A right which has been vested as provided in this section shall terminate at the end <br /> of the applicable vesting period with respect to buildings and uses for which no valid <br /> building permit applications have been filed. <br /> <br /> (e) Subsequent changes prohibited; exceptions. <br /> <br />(1) A vested right, once established as provided for in this section, precludes any zoning <br />action by a county which would change, alter, impair, prevent, diminish, or otherwise <br />delay the development or use of the property as set forth in an approved site specific <br />development plan or an approved phased development plan, except: <br /> <br /> a. With the written consent of the affected landowner; <br /> <br /> b. Upon findings, by ordinance after notice and a public hearing, that natural or man- <br /> made hazards on or in the immediate vicinity of the property, if uncorrected, would <br /> pose a serious threat to the public health, safety, and welfare if the project were to <br /> proceed as contemplated in the site specific development plan or the phased <br /> development plan; <br /> <br /> c. To the extent that the affected landowner receives compensation for all costs, <br /> expenses, and other losses incurred by the landowner, including, but not limited <br /> to, all fees paid in consideration of financing and all architectural, planning, <br /> <br /> <br />