Five Year - 50% Rule no longer applicable
Those about to secure building permits to make repairs from damage caused by Hurricane Irma will be glad to know that the City of St. Augustine no longer has a Five Year Cumulative 50% Rule.
What this means is that unlike in the aftermath of Hurricane Matthew the cost of repairs from hurricane damage are no longer added to the costs from any other improvements made during a five year period.
Under the previous rule, if all of the combined repairs and/or improvements within the last five years exceeded 50% of the assessed value of the building, then the work would be declared a substantial improvement and would have to be modified to meet the flood standards. The old rule also meant that hurricane repair costs were added to any repair costs or new construction costs for a 5 year period.
With the elimination of the five year limit, permits granted to make repairs resulting from Hurricane Irma will be counted separately from any other building permits a property may have or had in the past. But, an individual permit cannot exceed the 50% threshold or it will trip the substantially damaged designation.