Following the review of an application, environmental checklist, and land use hearing and within one hundred twenty days of receipt of an application or such later time as is mutually agreed by the applicant and the council, the council by order will grant expedited processing for an application when it has found that:

(1) The proposed site is consistent and in compliance with city, county or regional land use plans, zoning ordinances; and

(2) The environmental impacts are not significant or may be mitigated to nonsignificant level under RCW 43.21C.031.