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The following requirements may apply in cases involving proposed demolition, in addition to all other applicable provisions of this Part.

A. Required findings. The Historic and Cultural Preservation Committee shall approve a COA for the demolition of a cultural resource only in conjunction with the concurrent approval of a proposed replacement project, and only after first making all of the following findings.

1. The cultural resource cannot be remodeled, rehabilitated or re-used in a manner that would allow a reasonable use;

2. Denial of the application will diminish the value of the subject property so as to leave substantially no value; and

3. The cultural resource cannot be remodeled, rehabilitated, or re-used in a manner that would allow a reasonable rate of return.

B. Justifiable hardships. Personal, family or financial difficulties, loss of prospective profits and Building Code violations shall not justify the issuance of a COA.

C. Economic hardship. Demolition not in compliance with the findings required by Subsection A may be approved only in cases of economic hardship. Economic hardship is defined as a substantial cost to the property owner that is patently unreasonable in comparison to the benefit conferred to the community should the owner be limited to following the guidelines for preserving or protecting the property. In order to approve demolition on the basis of economic hardship, the Historic and Cultural Preservation Committee may require that some or all of the following findings are made:

1. Disapproval would substantially diminish the value of the property;

2. The sale or rental of the property is impractical when compared to the cost of holding the property for uses allowed in the subject zoning district;

3. An adaptive reuse study has been conducted and found that utilization of the property for lawful purposes is prohibited or impractical;

4. Disapproval would unreasonably damage the owner of the property in comparison to the benefit conferred on the community;

5. All means involving City sponsored incentives (e.g., amendments to this Code and/ or the Zoning Ordinance, Building Code modifications, financial assistance, and/or grants) have been explored to relieve possible economic hardship;

6. Without approval of the proposed construction, demolition, exterior alteration, remodeling, or removal, the reasonable use of or return from a designated landmark or property within an historic district will be denied a property owner; and

7. In the case of a proposed demolition, the Director shall make an additional finding that the designated landmark cannot be remodeled or rehabilitated in a manner that would allow a reasonable use of or return from the property to the owners.

E. Effect of demolition. If approval of a COA will result in the demolition of a cultural resource, the applicant shall be required to memorialize the resource proposed for demolition in compliance with the standards of the Historic American Building Survey (HABS). The documentation may include an archaeological survey, floor plans, measured drawings, photographs, or other documentation specified by the Historic and Cultural Preservation Committee.

When appropriate, the Historic and Cultural Preservation Committee may require that a memorialization of the resource be incorporated into the proposed redevelopment of the site including the following:

1. Book or pamphlet;

2. Photographic display;

3. Small museum or exhibit;

4. Use of original fixtures; and/or

5. Other methods deemed appropriate by the Historic and Cultural Preservation Committee.