Repair to a building for which the value of damage equals or exceeds fifty percent of the market value of the building prior to the damage occurring and regardless of the actual repair work done. The term includes Repetitive Loss buildings. See: Definition. For the purposes of this definition, "repair" is considered to occur when the first repair or reconstruction of any wall, ceiling, floor, or other structural part of the building commences. The term does not apply to: (1) Any project for improvement of a building required to comply with existing health, sanitary, or safety code specifications which have been identified by the Code Enforcement Official and which are solely necessary to assure safe living conditions, or (2) Any alteration of a "historic structure" provided that the alteration will not preclude the structure's continued designation as a "historic structure", or (3) Any improvement to a building