No building shall be erected or constructed having more than two (2) stories and exceeding thirty (30) feet in height. The first floor may be located no higher than twenty-four (24) inches above the sidewalk measured from the nearest Borough owned street. All offices, office space, ticket offices, newspaper stands to be constructed in the B-1 District shall be located above ground level. Ground level shall be considered to be the grade established on the nearest Borough owned sidewalk. Any cellar or subground level area may only be used or utilized for storage purposes as well as for housing the necessary utility units for heating, plumbing, electric and other necessary utility units associated with the use of the building.