The Secretary shall issue a certificate of approval to any applicant who meets the requirements under this Part III of this subtitle. Unless an applicant agrees to extend the time, the Secretary shall approve or deny an application for certificate of approval within 30 days after the hearing required by § 7-611 of this subtitle. If the Secretary fails to approve or deny the application within that time, the application shall be deemed to be approved, and the Administration shall issue a certificate of approval.