§ 18.18.307. Economic Effect.

(a)

If a property or district is nominated for designation or application is made for a certificate of appropriateness, the historical resources commission shall consider the economic effects of approving the proposed designation or denying the certificate of appropriateness.

(b)

In order to demonstrate economic hardship, the owner shall provide sufficient evidence to demonstrate that:

(1)

The cost of renovating the existing structure, so that it can be used for the intended purpose, exceeds the cost of new construction; or

(2)

The existing structure cannot be used, even with alterations, for the intended purpose; or

(3)

The alterations needed to create a structure that will be sufficient to meet the needs of the intended use will destroy the historic or architectural integrity of the property; or

(4)

Through no fault of the property owner, the area surrounding the historic resource has been significantly altered so as to destroy the integrity of the historic area surrounding the resource; or

(5)

That designation or denial of a certificate of appropriateness will deny the owner reasonable use or return from the property.

(c)

If the historical resources commission finds that an economic hardship may occur by designation as a historic resource or historic district or denial of a certificate of appropriateness, the historical resources commission shall submit to the city council for its approval a mutually acceptable plan intended to alleviate the anticipated economic hardship with its recommendation for designation or, in the event of the denial of a certificate of appropriateness, prior to the city council hearing on the appeal. The plan may include incentives such as:

(1)

Partial or complete tax exemption.

(2)

Alternative alterations, construction or rehabilitation consistent with preservation standards.

(3)

City issued revenue or general obligation bonds using the proceeds to make loans for rehabilitation and reuse consistent with preservation standards.

(4)

Using city funds to make low interest loans for rehabilitation and reuse consistent with preservation standards.

(5)

Building code modifications or exemptions.

(6)

Changes in zoning requirements.

(d)

If the historical resources commission fails to timely submit a plan, or if a mutually acceptable plan cannot be developed, or if the city council fails to approve a plan submitted by the historical resources commission, the city council shall:

(1)

Acquire the property; or

(2)

Acquire a historic easement over the property; or

(3)

Reject the proposed designation; or

(4)

Grant the certificate of appropriateness.

(Ord. No. 4313, § 1, 6-8-93)