When any conforming or nonconforming use or structure which is in existence on the effective date hereof is restored and continued in operation after being damaged or destroyed by fire, collapse, explosion or other cause, to the extent that the cost of restoration does not exceed fifty percent (50%) of the assessed valuation, not less than the off street parking or loading facilities equivalent to any maintained at the time of such damage or destruction must be provided. However, in no case shall it be necessary to restore or maintain parking or loading facilities in excess of those required by this chapter for equivalent new uses or construction. (Ord. G-687, 10-23-2001)