As points of information:
Real Estate Sale contracts for Pennsylvania properties must contain
ZONING information.
(The only exception is a Single Family Residence.)
Zoning codes are public records, and while the Codes may seem complicated
or obscure, it remains the Buyer's obligation of Due Diligence to be
fully aware of Height, Setback, Use and other restrictions under each
Zoning definition.
Most Real Estate transactions are subject to delivery of a written
Seller Disclosure form to Buyer..
Seller Disclosures must reveal the presence of any Historic Designation
and location within any Historic District.
In instances (Foreclosures, Estate Sales, etc.) where SD is not required,
the Buyer should be notified, in a writing, signed by Buyer and Seller.
And in those cases, the Buyer and Buyer Agent should be professional
enough to do proper Due Diligence.
Best!
Liz
On Fri, 02 Nov 2007 13:14:51 -0400 [EMAIL PROTECTED] writes:
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.
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