A. 
When a claim of unreasonable economic hardship is made due to the effect of this chapter, the owner of record must present evidence sufficient to prove that, as a result of the Review Board's action, he is unable to obtain a reasonable return or a reasonable beneficial use from a resource. The owner of record shall submit by affidavit to the Review Board some or all of the information below at the discretion of the HARB, which may include but not be limited to the following:
(1) 
Date the property was acquired by its current owner.
(2) 
Price paid for the property (if acquired by purchase) and a description of the relationship, if any, between the buyer and the seller of the property.
(3) 
Mortgage history of the property, including current mortgage and the annual debt service, if any, for the previous five years.
(4) 
Current market value of the property.
(5) 
Current tax assessment.
(6) 
Usage of the property for the previous five years.
(7) 
Equity in the property.
(8) 
Past and current income and expense statements for income-producing properties for the past two years.
(9) 
Past capital expenditures during ownership of current owner.
(10) 
Income and property tax factors affecting the property.
(11) 
All appraisals obtained within the previous two years by the owner or applicant in connection with purchase, offerings for sale, financing or ownership of the property, or state that none was obtained.
(12) 
Any studies already commissioned by the owner as to profitable renovation, rehabilitation or utilization of any structures or objects on the property for alternative use, or a statement that none were obtained.
(13) 
Estimate(s) of the cost of the proposed erection, reconstruction, alteration, restoration, demolition or razing and an estimate(s) of any additional cost(s) that would be incurred to comply with the recommendations of the HARB for changes necessary for it to approve a certificate of appropriateness.
(14) 
Form of ownership or operation of the property, whether sole proprietorship, for profit or nonprofit corporation, limited partnership, joint venture or other.
B. 
The HARB may require that an applicant furnish additional information relevant to its determination of unreasonable economic hardship.
C. 
Should the HARB determine that the owner's present return is not reasonable, it must consider whether there are other uses currently allowed that would provide a reasonable return and whether such a return could be obtained through investment in the property for rehabilitation purposes. The Review Board may choose to recommend to the Municipality of Norristown that special economic incentives be developed to assist the owner of the resource in maintaining it and obtaining a suitable economic return or achieving a reasonable beneficial use.
[Amended 11-16-2010 by Ord. No. 10-20]
D. 
The Review Board may seek the assistance of appropriate local, statewide or national preservation organizations in developing solutions which would relieve the owner's economic hardship. If the HARB chooses to explore such options, the HARB may delay issuing a certificate of appropriateness for demolition on the basis of economic hardship for a period of 90 days in addition to time periods otherwise applicable.
E. 
Should the applicant satisfy the Review Board that he will suffer an unreasonable economic hardship if a certificate of appropriateness is not approved, and should the HARB be unable to develop with the Municipality of Norristown or appropriate local, statewide and national preservation organization a solution which can relieve the owner's economic hardship, the Review Board must recommend a certificate of appropriateness for demolition.
[Amended 11-16-2010 by Ord. No. 10-20]