A.Â
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 or she 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 the HARB, which shall include but not be limited to
the following:
(1)Â
Date the property was acquired by its current owner.
(2)Â
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)Â
Mortgage history of the property, including current mortgage and
the annual debt service, if any, for the previous two years.
(4)Â
Current market value of the property.
(5)Â
Equity in the property.
(6)Â
Past and current income and expense statements for the past two years.
(7)Â
Past capital expenditures during ownership of current owner.
(8)Â
Appraisals of the property obtained within the previous two years.
(9)Â
Income and property tax factors affecting the property.
(10)Â
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.
(11)Â
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)Â
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)Â
Form of ownership or operation of the property, whether sole
proprietorship, for profit or nonprofit corporation, limited partnership,
joint venture or other.
B.Â
The HARB may require that an applicant furnish additional information
relevant to its determination of unreasonable economic hardship.
C.Â
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.
D.Â
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 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.Â
Should the applicant satisfy the HARB that he or she will suffer
an unreasonable economic hardship if a certificate of appropriateness
is not approved, and should the HARB be unable to develop with the
Borough or appropriate local, statewide and national preservation
organization a solution which can relieve the owner's economic
hardship, the HARB must recommend a certificate of appropriateness
for demolition.