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be granted, but the owner could reasonably expect to be
successful.
Respondent’s expert disagreed with petitioners’ expert’s
opinion that the Library Tower and Grand Place Tower variations
rendered Ordinance No. 159802 and the MTP Designated Building
Site unimportant. He said those variations could not have been
granted without Ordinance No. 159802 and the MTP Designated
Building Site.
3. Analysis
Contrary in part to the arguments of both parties, we
conclude that the costs of obtaining the development rights in
issue for Library Square and Fifth & Grand are partly
depreciable.
a. The Variations
Both parties’ experts agreed that the Library Tower and
Grand Place Tower variations would not survive the buildings for
which those variations were granted. If Library Tower or Grand
Place Tower were to be replaced, the owner could not build
another building exceeding the then-zoning building density
limit for the property without obtaining a second variation.
Respondent contends that the terms of the variations
support respondent’s position. We disagree. The variations by
their terms do not automatically apply to buildings other than
those already placed in service.
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