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A claim may be approved only if the claimant demonstrates by a preponderance of the evidence that the following criteria are met:

A. A City-enacted land use regulation enacted after January 1, 2007, and after the property was acquired restricts the claimant’s desired residential use of the property.

B. The land use regulation has the effect of reducing the fair market value of the property.

C. The highest and best use of the property at the time the property was acquired is restricted by the land use regulation.

D. The land use regulation is not an exempt land use regulation under ORS 195.305.

E. All other requirements of ORS 195.300 to 195.336 have been met. [Ord. NS-2159, 2011]