Lowest story of a residential building

In all districts, where the floor area of a single- or two-family residence existing on October 28, 2012, did not include the lowest story because such story complied with the criteria set forth in paragraph (9) of the definition of “floor area” in Section 12-10, any space used for dwelling purposes within such story shall continue to be exempt from the definition of floor area, notwithstanding such criteria, provided such story is elevated or reconstructed at or above the flood-resistant construction elevation.