One aspect of this project that has only been alluded a couple of times is "hardship." Some commenters to the list have suggested that, since de-listing of the historic property was denied, whatever else happens, the property will be restored. This is not necessarily the case. According to the historical commission ordinance, an owner may claim a financial "hardship" exemption. An evaluation of such an exemption, if I understand the ordinance correctly, would not have to take into account the depth of the owner's pockets. And if Penn didn't know that the property was historically designated, that fact might work in their favor if they sought a hardship exemption. I have not heard anyone suggest that the developers might seek to prove "hardship," but they *could* go down that road, in which case all bets are off, and the entire building could be demolished.
Andrew www.malcolmxpark.org --------------- Here's the relevant text (and it's source: http://www.phila.gov/historical/pdf/ordinance/ordinance.pdf) (f) In any instance where there is a claim that a building, structure, site or object cannot be used for any purpose for which it is or may be reasonably adapted, or where a permit application for alteration, or demolition is based, in whole or in part, on financial hardship, the owner shall submit, by affidavit, the following information to the Commission: (.1) amount paid for the property, date of purchase, and party from whom purchased, including a description of the relationship, whether business or familial, if any, between the owner and the person from whom the property was purchased; (.2) assessed value of the land and improvements thereon according to the most recent assessment; (.3) financial information for the previous two (2) years which shall include, as a minimum, annual gross income from the property, itemized operating and maintenance expenses, real estate taxes, annual debt service, annual cash flow, the amount of depreciation taken for federal income tax purposes, and other federal income tax deductions produced; (.4) all appraisals obtained by the owner in connection with his purchase or financing of the property, or during his ownership of the property; (.5) all listings of the property for sale or rent, price asked, and offers received, if any; (.6) any consideration by the owner as to profitable, adaptive uses for the property; (.7) the Commission may further require the owner to conduct, at the owner's expense, evaluations or studies, as are reasonably necessary in the opinion of the Commission, to determine whether the building, structure, site or object has or may have alternate uses consistent with preservation. ----------- ---- You are receiving this because you are subscribed to the list named "UnivCity." To unsubscribe or for archive information, see <http://www.purple.com/list.html>.
