Atomic Theory Chem (DH) Practice Test

According to FEMA and the NFIP, what constitutes a 'Substantial Improvement'?

Any repair or improvement costing more than $10,000 Any reconstruction, rehabilitation, or addition that equals or exceeds 50% of the building's pre-improvement market value Any addition that increases the footprint of the building by 25% Any renovation that alters the load-bearing walls of the structure

Correct Answer:

Any reconstruction, rehabilitation, or addition that equals or exceeds 50% of the building's pre-improvement market value

Explanation:

Substantial Improvement is any repair, reconstruction, or improvement of a structure, the cost of which equals or exceeds 50% of the market value of the structure before the work.

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