A nonconforming building or structure which is damaged or partially destroyed by fire,
flood, wind, explosion, earthquake, or other calamity shall not be again restored
or used for such purpose if the expense of such restoration exceeds fifty (50) percent
of the replacement cost of the building or structure at the time such damage occurred,
except that a damaged or destroyed nonconforming single-family dwelling that is being
used exclusively for single-family occupancy at the time of destruction may be restored
up to one hundred (100) percent of the replacement cost. Any nonconforming building
or structure partially destroyed, or any nonconforming single-family dwelling partially
or fully destroyed, may be restored provided restoration is started within twelve
(12) months of destruction, and is diligently pursued to completion. Whenever a nonconforming
building or structure is damaged in excess of fifty (50) percent of its replacement
cost at that time the repair or reconstruction of such building or structure shall
conform to all the regulations of the district in which it is located and it shall
be treated as a new building.