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• • <br />F. Summary of Procedure for Allowing an Extended Useful Lifo <br />(Amortizing) for Nonconiorming Land Uses <br />The ZBA may establish an extended use life period for a <br />nonconforming use of not less than five (5) years and not more <br />than twenty (20) years. The extended useful life period allows the <br />owner/operator to be compensated for the over a prescribed period <br />of time based on the current remaining useful investment in the <br />use. The following Is a summary outline of steps that should be <br />considered in determining the extended useful life period.. In all <br />cases the burden is on applicant to provide the necessary <br />information. <br />1. Require pertinent fnanaal information (such as receipts, tax <br />statements, etc.) from the owner/operator to analyze the <br />amount of investment made in the land, land use, and good <br />will of the use, as appropriate. Such inl~ot~tion and <br />analysis should be sought from a qualified comrr~rcial real <br />estate broker, finanaal adviser, CPA or similar professional. <br />2. Require pertinent financial information from the <br />ownerloperator to establish the amount of annual return on <br />investment caused by the use. <br />3. Establish the amount of time necessary to make equal the <br />amount of investment versus the annual return on <br />investment caused by the use. <br />For example: . <br />Investment to date <br />Demolition/Environmental Costs <br />Annual return on investment <br />Investment Period (a + b!c) <br />Length of Existence <br />Extended Useful Life <br />$200,000 (a) <br />$100,000 (b} <br />$20,000 (c) <br />Fifteen (15) Years <br />Four (4) Years <br />Eleven (11) Years <br />4. Establish the extended useful life period based on #3 above <br />(no more than five years and no more than twenty years). <br />5. Establish conditions at the conclusion of the extended useful <br />life period, such as, demolition of buildings, .environmental <br />cleanup, removal of structures, professional site <br />investigations, etc. <br />(Procedures in the process for establishing an extended <br />useful life period should be followed under the guidance of <br />the City Attorney. The applicant should also be represented <br />by legal counsel.) <br />Analysis at Ulvislon 9, 7.oning (hdin~cc, Nonconforming Buildings, Structures, and tlsac 6 <br />Ciry of I.a torte, 'I'ucss, July t8, t999 <br />Hawes Hilt dk !'uttcson Cansultanb <br />8O'd dZ0=90 66-8t-unr <br />