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Pfizer Inc. (PFE) R&D Building Demolition May be Delayed


4/9/2013 8:08:42 AM

The City Council unanimously approved an emergency ordinance on Monday that is designed to delay by at least three months the planned demolition of Pfizer's former research headquarters. Viewed as a stalling tactic by some, the "building preservation" ordinance is aimed at providing time for Pfizer, or another demolition applicant of comparable size, to explore alternatives to demolition while addressing environmental and safety concerns associated with the demolition. The ordinance establishes a 90-day waiting period between the time a demolition permit is applied for and granted. The time would allow "all interested parties to consider alternatives to demolition and to examine the impact of demolition on the environment," according to the ordinance. It also establishes a process in which companies like Pfizer would be "informed of the benefits of preservation, rehabilitation and reuse."

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