In this subdivision:
I. "Floor-area-ratio (FAR)" means the ratio of a building's total floor area to the size of the parcel of land upon which it is built.
II. "Below-grade area" means any part of a building that is entirely or partially below the ground level, including basements, cellars, and sublevels.
III. "New construction" means any newly constructed building or structure, including those that are newly erected or created by major renovations.