A. Except as expressly provided in section 9-1-19-39A of this chapter with respect to a development permit which approves a master plan, development permits issued pursuant to this chapter are valid only for the following time periods:

The term of a Class A, B or C development permit shall commence on the date of approval of the development permit by the town council. The term of a Class D major or Class D minor development permit shall commence on the date of the issuance of such permit by the director.

B. For those development permits for which vested property rights are created pursuant to section 9-1-17-11 of this chapter, the duration of the development permit and the duration of the vested property rights are the same. The extension of the vested property rights for a project also operates to extend the duration of the development permit for so long as such vested property rights continue to exist as provided in this section. (Ord. 1, Series 2014)