Development Standards | Protection and Preservation of Landmarks
b) The annual gross and net income, if any, from the landmark for the previous five years; itemized operating and maintenance expenses for the previous five years; and depreciation deduction and annual cash flow before and after debt service, if any, during the same period; c) The remaining balance on any mortgage or other financing secured by the landmark and annual debt service, if any, during the prior five years; d) Real estate taxes for the previous four years and assessed value of the landmark according to the two most recent assessed valuations; e) All appraisals obtained within the previous three years by the owner in connection with the purchase, financing or ownership of the landmark; f) The fair market value of the landmark immediately prior to its designation and the fair market value of the landmark (in its protected status as a designated landmark) at the time the application is filed; g) Form of ownership or operation of the landmark, whether sole proprietorship, for-profit or not- for-profit corporation, limited partnership, joint venture, or both; h) Any state or federal income tax returns on or relating to the landmark for the past two years.
ii. The landmark is not marketable or able to be sold when listed for sale or lease. The sale price asked, and offers received, if any, within the previous two years, including testimony and relevant documents shall be submitted by the property owner. The following also shall be considered: a) Any real estate broker or firm engaged to sell or lease the landmark; b) Reasonableness of the price or lease sought by the owner; c) Any advertisements placed for the sale or lease of the landmark. iii. The unfeasibility of alternative uses that can earn a reasonable economic return for the landmark as considered in relation to the following: a) A report from a licensed engineer or architect with experience in historic restoration or rehabilitation as to the structural soundness of the landmark and its suitability for restoration or rehabilitation; b) Estimates of the proposed cost of the proposed alteration and an estimate of any additional cost that would be incurred to comply with the recommendation and decision of the commission concerning the appropriateness of the proposed alteration;
c) Estimated market value of the landmark in the current condition after completion of the
392 | Title 21: Sammamish Development Code
Effective | January 1, 2022
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