Where an existing single family dwelling is to be raised in order to meet but not exceed the ABFE or BFE requirements including a one-foot freeboard, whichever is more stringent, as required by the Flood Damage Prevention Code of the Borough of Point Pleasant Beach or the Flood Hazard Act requirements of the State of New Jersey, the existing dwelling shall be permitted to be raised a maximum of ten percent over the allowable height limitation as provided for in the Schedule of Zoning District Regulations applicable to the zone in which the dwelling is situate.