Substantial repairs definition
Substantial repairs means any repairs, reconstructions, rehabilitations, additions, alterations or other improvements to a structure, taking place during a five (5) year period, in which the cumulative cost equals or exceeds fifty percent (50%) of the market value of the structure before the "start of construction" of the improvement. The market value of the structure should be:
Substantial repairs shall have the meaning assigned to such term in Section 11.01 hereof.