23.60.040 APPLICABILITY.

All commercial development projects and multi-family projects with a building permit valuation of three million dollars or more shall be subject to the provisions of this chapter, except when the work authorized by the project approval involves less than a substantial reconstruction of an existing building. "Substantial reconstruction" for the purposes of this section means work the estimated building permit valuation of which exceeds 50% of the replacement value of the existing building based upon construction costs at the time of project approval.