(a) Notice of the action taken by the commission shall be given to the applicant by mail.

(b) In the event the commission decides that the application should be disapproved, the notice of its action shall specify the grounds upon which such action is based and shall advise the applicant that at a certain hour on a day specified therein, the commission will conduct a hearing at its offices in Albany, at which time and place the applicant may appear and present proof in support of his or its application. If, at the conclusion of such hearing and after considering such proof, the commission determines that it should give preliminary approval of the application as submitted or as modified, the proceedings shall continue as if such preliminary approval had been given in the first instance.

(c) In the event of approval of the project, as submitted or as modified, such notice shall specify the terms and conditions, including the amount of rental or other charge, under which a license will issue. Not later than 30 days after the mailing of said notice, the applicant shall advise the commission in writing that he or it accepts and agrees to such terms and conditions, and shall request the commission to issue a license in accordance therewith. The commission may, in a proper case, extend such time. Failure to so advise the commission within the time specified, or as extended, shall constitute a withdrawal of the application.