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EXHIBIT A DIVISION 5.- REHABILITATED REAL ESTATE Sec. 35-186. Authorized; amount; duration. A real estate assessment credit is hereby authorized for residential, commercial and industrial real estate which has undergone substantial rehabilitation, renovation or replacement in an amount equal to the increase in the assessed value resulting from the rehabilitation, renovation or replacement of the real estate, as determined by the city assessor, and this amount only shall be applicable to any subsequent assessment or reassessment for a period of ten years commencing on July 1 of the year following completion of the rehabilitation. Sec. 35-187. What constitutes substantial rehabilitation—Residential real estate. For the purpose of this division, residential real estate shall be deemed to have undergone substantial rehabilitation, renovation or replacement when a structure which is not less than 25 years of age has been so improved as to increase the assessed value of the structure by no less than 40 percent without increasing the total square footage of this structure by more than 15 percent. If the total square footage of such rehabilitated, renovated, or replacement structure exceeds that of the original structure by more than 15 percent, the excess square footage above said additional 15 percent shall not be entitled to the real estate assessment credit authorized by this division. Sec. 35-188. Same—Commercial or industrial real estate. For the purposes of this division commercial or industrial real estate shall be deemed to have undergone substantial rehabilitation, renovation or replacement when a structure which is no less than 25 years of age has been so improved as to increase the assessed value of the structure by no less than 60 percent without increasing the total square footage of the structure by more than 15 percent. In the event of complete replacement of such structure, the increase in the total square footage shall be no more than 100 percent. If the total square footage of such rehabilitated, renovated, or replacement structure exceeds that of the original structure by more than 100 percent, the excess square footage above said additional 100 percent shall not be entitled to the real estate assessment credit authorized by this division. Sec. 35-189. Process and requirements. (a) The owner of property which is intended to undergo substantial rehabilitation, renovation or replacement shall be required to file an application requesting the assessment credit provided for in this division with the city assessor not later than ten days after obtaining the building permit for the rehabilitation, renovation or replacement. The owner shall also be required to pay a fee as set forth in appendix A to this Code to the city for processing the application. (b) No owner shall be eligible to apply for or receive the assessment credit if any real property taxes or assessments owed for the subject property are delinquent. (c) For residential applications that were approved by the city assessor prior to June 23, 2026, the rehabilitation, renovation or replacement must be completed (including providing notice to the city assessor so that a final inspection can be performed) by December 23, A-1