What is the name of your state? Oklahoma
My uncle owns a building he bought about 12 years ago. Previous to buying the building he and I leased it. In total, we have been in the building for about 23 years. I am interested in buying the building from my uncle, but in the process of due diligence I have found that the property is zoned RM-2 (Residental). We have been operating upholstery businesses in this building for twenty-three years.
The building was built in the twenties as an Indian school and later was used for commercial purposes. The wierd part of this is that one third of this building is in a LI zone ( light industry ) I wish to have it all LI. The property is in a flood zone and the city has it in their urban developement plans to become a retention pond. This will probably not happen for many many years into the future. The building is worthless as a residential property and is very suited for light industry, we have had no complaints from the neighborhood largely because most of the area around us is commercial and rental property anyway. Our next door neighbor is zoned LI as is part of our building. All I want is for the city to extend the LI zone to cover the rest of the building.
Any thoughts would be helpful. Thanks.
My uncle owns a building he bought about 12 years ago. Previous to buying the building he and I leased it. In total, we have been in the building for about 23 years. I am interested in buying the building from my uncle, but in the process of due diligence I have found that the property is zoned RM-2 (Residental). We have been operating upholstery businesses in this building for twenty-three years.
The building was built in the twenties as an Indian school and later was used for commercial purposes. The wierd part of this is that one third of this building is in a LI zone ( light industry ) I wish to have it all LI. The property is in a flood zone and the city has it in their urban developement plans to become a retention pond. This will probably not happen for many many years into the future. The building is worthless as a residential property and is very suited for light industry, we have had no complaints from the neighborhood largely because most of the area around us is commercial and rental property anyway. Our next door neighbor is zoned LI as is part of our building. All I want is for the city to extend the LI zone to cover the rest of the building.
Any thoughts would be helpful. Thanks.