(A) If the preservation officer or a member of the Main Street Board of Directors has reason to believe that an exempted structure has been altered or totally or partially destroyed by the willful act or negligence of the owner or his or her representative, the preservation officer shall immediately cause the matter to be scheduled for the earliest practical consideration by the City Council. If, after giving notice and hearing to the owner, the City Council determines that the exempted structure has been totally or partially destroyed or altered by the willful act or negligence of the owner of his or her representative, the owner shall immediately repay to the city all of the tax revenues that were not paid because of the exemption, plus interest calculated at an annual rate of 6%.
(B) (1) Where an exempted structure is totally or partially destroyed or altered by other than the willful act or negligence of the owner or his or her representative, the owner shall, within 30 days, request a demolition permit when repair is not feasible, or request a building permit to reconstruct the historically significant site, in accordance with the development codes of the city and the approved plans for that structure.
(2) Renovation is hereby deemed feasible when destruction or alteration is 50% or less of the structural value of the building.
(3) In cases where a demolition permit is issued by the city because renovation is not feasible, repayment of tax revenue is not required.
(2012 Code, § 80-57)