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hardship exists, the Commission shall consider, among <br />others, the following criteria: <br />"(a) Whether denial of the application will diminish <br />value of the subject property so as to leave <br />substantially no value. <br />"(b) Whether sale or rental of the property at a <br />reasonable rate of return is impractical or <br />not feasible, when compared to the cost of holding <br />such property for user permitted in this zone. <br />"(c) Whether reasonable utilization of the property <br />is prohibited or impractical. <br />If a hardship is found to exist under this section, the <br />Commission shall make a written finding to that effect, and <br />shall specify the facts and reasons relied upon in making <br />such finding. Such finding may be appealed to the City <br />Council pursuant to the provisions of Section 40.11. <br />"Section 40.16. Retroactive Application. The pro- <br />visions of this chapter shall be inapplicable to the <br />construction, alteration, demolition or removal of any <br />structure or other feature on a designated historic landmark <br />or historic site or within a designated historic district, <br />where a permit for the performance of°such work was issued <br />prior to initiation of proceedings for such designation, <br />and where such permit has not expired or been cancelled <br />or revoked, provided that construction is started and <br />diligently prosecuted to completion in accordance with the <br />Redwood City Building Code." <br />SECTION 2. This ordinance shall be effective 30 days after <br />its adoption. <br />-11- <br />