(1) This article shall not apply to any development in an area of state interest or any activity of state interest which meets any one of the following conditions as of May 17, 1974:
(a) The development or activity is covered by a current building permit issued by the appropriate local government; or
(b) The development or activity has been approved by the electorate; or
(c) The development or activity is to be on land:
(I) Which has been conditionally or finally approved by the appropriate local government for planned unit development or for a use substantially the same as planned unit development; or
(II) Which has been zoned by the appropriate local government for the use contemplated by such development or activity; or
(III) With respect to which a development plan has been conditionally or finally approved by the appropriate governmental authority.
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