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moving, as apply for erection, construction, alteration or restoration of buildings
<br />or structures, as set out in this ordinance.
<br />
<br />Other factors that may be considered by the architectural review board, when
<br />deciding upon applications for demolition, razing or moving of a building or a
<br />structure, are its historic significance, architectural value, the structure's
<br />contribution to the overall faqade or appearance of the historic area, or the
<br />physical ability to restore the building or structure, considering its present
<br />physical condition.
<br />
<br />The owner of a building or structure located within a historic area who has been
<br />denied, by the Architectural Review Board, and the City Council, on appeal, a
<br />certificate of appropriateness, to demolish, raze or move a building or structure, as
<br />a matter of right shall be entitled to raze, move or demolish such building
<br />provided that:
<br />
<br />(i) The owner has, for a period of time set forth in the time schedule herein-
<br /> After contained, and at a price reasonable related to its fair market value,
<br /> made a bona fide offer to sell such landmark, building or structure, and the
<br /> land pertaining thereto, to the City of Martinsville, or any person, firm,
<br /> corporation, government or agency thereof, or political subdivision or
<br /> agency thereof, which gives reasonable assurance that it is willing to
<br /> preserve and restore the building or structure and the land pertaining
<br /> thereto; and
<br />
<br />(2) That no bona fide contract, binding upon all parties thereto, shall have been
<br /> Executed for the sale of any such building or structure, and the land
<br /> pertaining thereto, prior to the expiration of the applicable time period set
<br /> forth in the time schedule hereinafter contained. Any appeal that may be
<br /> taken to the court from the decision of the City Council, whether instituted
<br /> by the owner or by any other proper party, notwithstanding the provisions
<br /> heretofore stated relating to a stay of the decision appealed from, shall not
<br /> affect the right of the owner to make the bona fide offer to sell, referred to
<br /> above. No offer to sell shall be more than one year after a final decision by
<br /> the city council, but hereafter the owner may renew his request to city
<br /> council to approve the razing or demolition of the building or structure.
<br /> The time schedule for offers to sell shall be as follows:
<br />
<br />Three (3) months when the offering price is less than twenty-five
<br /> thousand dollars ($25,000);
<br />Four (4) months when the offering price is twenty - five thousand dollars
<br /> ($25,000) or more, but less than forty thousand dollars ($40,000);
<br />Five (5) months when the offering price is forty thousand dollars ($40,000)
<br /> or more, but less than fifty - five thousand dollars ($55,000);
<br />Six (6) months the offering price is fifty - five thousand dollars ($55,000)
<br /> or more; but less than seventy - five thousand ($75,000);
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