This section applies to Article V, § 130-18B(3):
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 HARB'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 HARB some or all of the information below at the discretion
of HARB that shall 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 relations, 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 two
years.
(4)
Current market value of the property.
(5)
Equity in the property.
(6)
Past and current income and expense statements for
the previous two years.
(7)
Past capital expenditures during ownership of current
owner.
(8)
Appraisals of the property obtained within the previous
two years.
(9)
Income and property tax factors affecting the property.
(10)
All appraisals obtained within the previous
two years by the owner or applicant in connection with the purchase,
offerings for sale, financing or ownership of the property, or state
that none was obtained.
(11)
All studies 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.
(12)
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.
(13)
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.
The HARB may receive and consider studies and economic
analyses from other Borough agencies and from private organizations
relating to the property in question.
D.
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 HARB may choose to recommend
to the Borough Council 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.
E.
The HARB 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 recommending 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.
F.
Should the applicant satisfy the HARB that he will
suffer an unreasonable economic hardship if a certificate of appropriateness
is not approved, and should HARB be unable to develop with the Borough
Council appropriate local, statewide and national preservation organization
a solution which can relieve the owner's economic hardship, the HARB
must recommend to the Borough Council a certificate of appropriateness
for demolition.
