Substantial damage

Damage to a building (from any cause) such that the cost to repair it to its pre-damaged condition would equal or exceed 50 percent of its pre-damaged value. For a multi-family building, the calculation is based on the cost to repair all damage to the entire structure, regardless of the number of owners. When a building is determined to be substantially damaged, it must be retrofitted to meet the current local floodplain management regulations and building codes.