Yes, the locals believe that, once the changes occur, Fethiye Belediye will write-off all the illegal builds and start with a fresh slate. That's why they're putting so much effort into building now. It's a big gamble as the valley's already been surveyed on the ground, by helicopter and by satellite, and the cut-off was supposed to be last summer.
The only thing you've got to look forward to is that, if you own your house, it's value is likely to increase quite substantially once the council boundaries change.