Restoration. Any nonconforming building, structure or use that has been condemned or damaged by fire, explosion, flood, windstorm or Act of God shall be examined by the Construction Official. If, in the opinion of the Construction Official, the cost of repair is greater than 60% of the value of replacing the entire structure, it shall be considered completely destroyed and may be rebuilt to the original specifications only upon approval of a variance. If the cost of repair is less than 60% of the value of replacing the entire structure, it may be rebuilt and used for the same purpose as before, provided that it is rebuilt within one year and does not exceed the height, area and volume of the original structure. The percent damaged shall be the current replacement costs of the portion damaged or condemned, computed as a percentage of the current total replacement cost of the entire structure, neither to include the cost of the foundation unless the foundation is involved in the repair.