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(d) Variances shall be issued only after the board of zoning appeals has determined that variance will be the minimum required {o provide relief from any hardship to the applicant. (e) The board of zoning appeals shall notify the applicant for a variance, in wdting, that the issuance of a variance to construct a structure below the one hundred- year flood elevation increases the risks to life and property and will result in increased premium rates for flood insurance. (f) A record shall be maintained of the above notification, as well as of all variance actions, including justification for the issuance of the variances. Any variances which are issued shall be noted in the annual or biennial report submitted to the Federal Insurance Administrator. 2. That Chapter 14 of the Code of the City of Portsmouth, Virginia, 1988, be amended by adding Section 14-14 thereto to read as follows: ARTICLE VI - EXISTING STRUCTURES Sec. 14-14. Existing Structures. A structure or use of a structure or premises which lawfully existed in the floodplain district before the enactment of these provisions, but which is not in conformity with these prows~ons, may be continued subject to the following conditions: (a) Any modificatioos, alteration, repair, reconstruction, or improvement of any kind to a structure or use Iodatee in any floodplain area'to ar~ extent or amount of less than fifty percent (50%) of its market value, shall be elevated and/or floodproofed to the greatest extent possible, as determined by the director of environmental services or his designee. (b) Any modification, alteration, repair, reconstruction, or improvement of any kind to a structure or use, regardless of its location in a floodplain area, to an extent or amount of fifty percent (50%1 or more of its market value shall be undertaken only in full compliance with the provisions of this chapter and the Virginia Uniform Statewide Building Code. 3. This ordinance shall take effect on the date of its adoption.