I believe it’s all about options…. how patient is the applicant, and how much are they willing to spend.
IMHO, there are two main options:
1) Quick/expensive
The applicant would have a suitable by-law written up, would probably include the SM and the SC to ensure all concerns are addressed.
The applicant applies to the SC to have an EGM, and pays any associated costs for the running of the meeting. At the meeting the renovation and by-law would be discussed and either approved or denied. If denied, then you may have received some feedback on what needs to change to get it approved, and repeat the process.
Time: About 2 months (notice periods for meetings, etc, not sure of exact times)
2) Slow/Cheap
The applicant requests a motion is added to the next AGM (or EGM whichever happens to come first), at the meeting discuss and approve/reject the request for the renovation, and terms of the by-law.
Have the by-law written as per feedback at the meeting
The applicant request a motion is added to the next AGM/EGM, and has the by-law approved.
Time: up to 2 years….
AFAIK, a motion as written can only be approved/denied at a AGM, you can’t modify the by-law during the meeting and then approve the modified by-law, and you can’t approve a by-law that hasn’t been written yet.