Any vacant or undeveloped property, which is rezoned or annexed and zoned, shall be
required to obtain an improvement location permit within two years of the date of
the passage of an ordinance approving zoning by the common council. If an improvement
location permit is not obtained within the specified time, the city planner shall
provide written notice of such fact to the common council. Upon receiving the notice,
if the common council deems the current zoning classification appropriate, the common
council shall take no further action. If the common council deems the zoning classification
should otherwise be changed, the common council shall direct the plan commission to
prepare the desired change in zoning in accordance with IC 36-7-4-602.