A. Certification; Binding Approval. The owner(s) of a designated landmark, the alteration of which is subject to the advisory review of the Commission, may request that any alteration be subject to the binding review of the Commission. Upon approval of such request by the Commission, a declaration, in a form and of substance acceptable to the Commission, shall be recorded by the Director in the office of the Cook County recorder of deeds. Upon recordation, such designated landmark shall become certified and subject to approval of the Commission for any proposed alteration. After a designated landmark has been certified, such certification shall not be withdrawn except for an express determination set forth in a resolution of the Village Council pursuant to the conditions set forth in Section 15.64.050 of this chapter.
B. Binding Review of Certified Landmarks. The Commission's binding review shall be pursuant to the procedures, standards and considerations prescribed in Section 15.64.060 of this chapter.
C. Certified Buildings and Structures; Application for Certification of Economic Hardship. Upon findings of inappropriateness on the application and within one hundred twenty (120) days from the date of such findings, application for a certificate of economic hardship may be submitted to the Director by the owner of any property that has been certified pursuant to subsection A of this section. As part of the application, the applicant shall submit evidence concerning the following items:
1. An estimate of the cost of the proposed alteration and an estimate of any additional cost that would be incurred to comply with the recommendations of the Commission;
2. A report from a licensed engineer or architect with experience in rehabilitation as to the structural soundness of the building or structure on the property and its suitability for and the economic feasibility of rehabilitation or reuse;
3. Any decrease in the fair market value of the property or the return to the owner(s) as a result of the findings of inappropriateness; and
4. Any other information considered necessary by the Commission to make a determination as to whether the property does yield or may yield a reasonable return to the owner(s).
D. Review of Application for Certificate of Economic Hardship. Upon the filing of a completed application the Director shall transmit such application and associated materials to the Commission and it shall fix a meeting date and reach a timely decision on the application in accordance with the time periods prescribed in this chapter for consideration of an application for advisory review (including continuation of meetings).
E. Consideration of Application. Upon a determination that the findings of inappropriateness have denied, or will deny the owner(s) reasonable economic use of, or return on, the property, the Commission shall issue a certificate of economic hardship and approve the proposed alteration.
(Prior code § 20.07)