Issue link: https://newsleader.uberflip.com/i/313059
While the audience Tuesday was in favor of keeping the old building, the chairman of the DID was not. "I see this as a matter of prop- erty rights. They've got $3 million invested," Ernie Ritz pointed out. "He has every right to build this building. If we try to stop him, we could get sued, and rightfully so." Schneider said Franklin, the owners' represen- tative, recently had an informal conversation with city staffers about recreating the old hotel's facade instead of preserving the origi- nal. "I said it would be difficult to do that, and staff would not support elimination of it from the plans. This [project] was approved by the Historic Preservation Board," Schneider told the audience. In seeking the final extension, the owners demonstrated their financing remains intact for the project and "that over $660,000 has been incurred in financing expense," accord- ing to documentation. The DID board has no power to approve or disapprove any formal action concerning the DeMarcay property, but it is concerned about the loss of one of downtown's few remaining buildings from the 1920s. When a good cigar cost a nickel, $7 per week was not cheap rent for one person, especially during off season. Image courtesy Dr. Mark Kauffman Sarasota News Leader May 16, 2014 Page 48