Unified Development Ordinance, 5th supplement, March 2018

Part 10A: Unified Development Ordinance City of Raleigh, North Carolina 11 – 40 Effective Date: September 01, 2013 Supp. No. 2 CHAPTER 11. ​BUILDING AND HOUSING CODE | Article 11.8. ​Demolition by Neglect of Historic Landmarks and Structures Within Historic Overlay Districts Sec. 11.8.3. ​​Safeguards from Undue Economic Hardship b. Form of ownership or operation of the property (sole proprietorship, for-profit corporation or non-profit corporation, limited partnership, joint venture, etc.) or legal possession, custody, and control; c. Amount paid for the property, date of purchase, and party from whom purchased, including a description of the relationship between the owner and the person from whom the property was purchased, or other means of acquisition of title, such as by gift or inheritance, and any terms of financing between buyer and seller; d. The annual gross and net income, if any, from the property for the previous 3 years; e. Itemized operating and maintenance expenses for the previous 3 years, including proof that adequate and competent management procedures were followed; f. Past capital expenditures during ownership of current owner; g. Depreciation deduction and annual cash flow before and after debt service, if any, for the previous 3 years; h. Remaining balance on any mortgage or other financing secured by the property and annual debt service, if any, during the previous 3 years; i. Real estate taxes for the previous 3 years and assessed value of the property according to the 2 most recentWake County assessed valuations; j. All appraisals obtained within the previous 3 years by the owner or applicant in connection with the purchase, financing or ownership of the property; k. Any state or federal income tax returns on or relating to the property for the previous 3 years; l. Any listing of the property for sale or lease within the previous 3 years, price asked and any offers received, the name of the any real estate broker or firm engaged to sell or lease the property, and any advertisements placed for the sale or rent of the property; m. A report from a licensed engineer or architect with experience in rehabilitation as to the structural soundness of any structures on the property and their suitability for rehabilitation; n. An estimate of the cost of the required construction, alteration, repair, demolition, or removal required by the order; o. The estimated market value of the property in its current condition and such value after completion of the required construction, alteration, repair, or removals; p. A report from an architect, developer, real estate consultant, appraiser, or other professional experienced in rehabilitation as to the economic feasibility of rehabilitation or reuse of the existing structure on the property; q. An analysis of common costs expended in both rehabilitation and comparable new construction immaterial to which type of project is undertaken; r. Economic incentives and/or funding available to the applicant through federal, state, city, or private programs. 2. The review panel may receive and consider studies and economic analyses from other city agencies and from private organizations relating to the property in question. 3. The review panel may require that the property owners furnish such additional information that is relevant to its determination of undue economic hardship. The review panel may request the Planning and Development Officer to furnish additional information as it believes is relevant. The review panel shall also state which forms of financial proof it deems relevant and necessary to a particular case. 4. In the event that any of the required information is not reasonably available to the property owners or the City and cannot be obtained by the owner or the City, the owner or City shall describe the reasons why such information cannot be obtained. D. Action on Hardship Review Panel’s Determination 1. The Planning and Development Officer shall provide a copy of the Hardship Panel’s report to the property owner and to the Historic Development Commission. 2. In the event of a determination of no undue economic hardship, the Planning and Development Officer shall cause to be re-issued the stayed order for such property to be repaired within the time specified.