; and (4) consider a phased approach that allows incremental funding of a project by a developer. 3008. Federal Energy Regulatory Commission projects (a) Gibson Dam (1) In general Notwithstanding the time period specified in section 13 of the Federal Power Act ( 16 U.S.C. 806 ) that would otherwise apply to the Federal Energy Regulatory Commission project numbered 12478–003, the Federal Energy Regulatory Commission (referred to in this section as the Commission ) may, at the request of the licensee for the project, and after reasonable notice, in accordance with the good faith, due diligence, and public interest requirements of, and the procedures of the Commission under, that section, extend the time period during which the licensee is required to commence construction of the project for not more than 3 consecutive 2-year periods from the date of the expiration of the extension originally issued by the Commission. (2) Reinstatement of expired license (A) In general If the period required for the commencement of construction of the project described in paragraph (1) has expired prior to the date of enactment of this Act, the Commission may reinstate the license effective as of that date of expiration. (B) Extension If the Commission reinstates the license under subparagraph (A), the first extension authorized under paragraph (1) shall take effect on the date of that expiration. (b) Cannonsville Dam (1) In general Notwithstanding the time period specified in section 13 of the Federal Power Act ( 16 U.S.C. 806 ) that would otherwise apply to the Commission project numbered 13287, the Commission may, at the request of the licensee for the project, and after reasonable notice, in accordance with the good faith, due diligence, and public interest requirements of that section and the procedures of the Commission under that section, extend the time period during which the licensee is required to commence construction of the project for up to 4 consecutive 2-year periods after the required date of the commencement of