If an applicant presents evidence to the board that denial of an application for a certificate of appropriateness or certificate of demolition will cause an economic hardship because of conditions peculiar to the particular structure or other feature involved, the board may approve or conditionally approve such application waiving the requirements of this chapter. A determination of economic hardship may be made only if the board finds that:
1. Denial of the application will diminish the value of the subject property so as to leave substantially no value; or
2. Sale or rental of the property is impractical, when compared to the cost of holding such property for uses permitted in the zoning district; or
3. Utilization of the property for lawful purposes is prohibited or impractical; or
4. Rental at a reasonable rate of return is not economically feasible.
(Ord. 2410 §18)