So everyone wants to preserve the Theater because it is old and special, but no one wants to spend the money or be responsible for it as a failed business venture.  The City is ready to make a "special municipal regulation" to prevent the "owners" from exercising their right to demolish the building.  

Here is a solution Berkowitz, get all of your buddies together and buy the building from these evil developers!  Then you will be responsible for a derelict building!

Oh and since you are offended by the old Northern Lights Inn, grant the demolition permit and let them tear it down.   But then you will have to find some other evil 'outsider' developer to harass.

The citizens of Anchorage really need to look at what is really going on here.  Empty buildings all over town, owners who have plans but they don't agree with local politicians, and who really owns a piece of property?  The backroom boys are at it again it seems.