(a) Every building which may hereafter be damaged to an amount not greater than one-half of the value thereof, exclusive of the value of the foundation at the time of such damage, may be repaired or rebuilt; but if such damage shall amount to more than one-half the value thereof, exclusive of the value of the foundation, then such shall not be repaired or rebuilt, but shall be taken down. Such removal shall be completed within ninety days of the damages.
(b) In case the owner of the damaged building shall be dissatisfied with the decision of Council that such building is damaged to a greater extent than one-half of its value, exclusive of the value of the foundation then the amount and extent of such damage shall be determined upon an examination of the building by a committee of three competent persons, one of whom shall be appointed by Council, another of whom shall be appointed by the owner or owners of said premises, and another of whom shall be appointed by the local fire underwriting board or organization, and a decision of a majority of these surveyors reduced to writing and sworn to, shall be conclusive. Such building shall in no manner be repaired or rebuilt until such decision shall have been rendered. (Passed 1-3-84.)