(a)        The lot area requirements of the following Sections are hereby superseded and replaced with the requirements of Sections 15-21 and 15-22 for the conversion of non-residential floor area to residences:

Sections 23-20 (DENSITY REGULATIONS) through 23-26 (Special Provisions for Zoning Lots Divided by District Boundaries);

Section 24-20 (APPLICABILITY OF DENSITY REGULATIONS TO ZONING LOTS CONTAINING BOTH RESIDENTIAL AND COMMUNITY FACILITY USES);

Section 35-40 (APPLICABILITY OF DENSITY REGULATIONS); and

Section 54-31 (Enlargements or Conversions).

In addition, the regulations governing open space ratio, yards, the minimum distance between two or more buildings on a single zoning lot and the minimum distance between windows and walls or lot lines are hereby superseded and replaced by the requirements of Sections 15-23 and 15-24.

(b)        In C6-2M, C6-4M, M1-5M and M1-6M Districts, the requirements of Section 15-21 (Use Regulations - Transfer of Preservation Obligations and Conversion Rights) may be waived by authorization of the City Planning Commission in connection with the conversion of all or any portion of a building to a residential use, provided that:

(1)        such building is either a landmark or lies within a Historic District designated by the Landmarks Preservation Commission;

(2)        any alterations to the subject building, required in connection with such conversion to residential use, have received a Certificate of Appropriateness or other permit from the Landmarks Preservation Commission;

(3)        a program has been established for continuing maintenance that will result in the preservation of the subject building or buildings as evidenced by a report from the Landmarks Preservation Commission; and

(4)        such buildings, or portions thereof, being converted to residential use, shall comply with the density requirements set forth in paragraph (a)(3) of Section 74-711 (Landmark preservation in all districts).

In order to grant an authorization, the City Planning Commission shall find that such waiver shall have minimal adverse effects on the conforming uses located within the building and in the surrounding area.

The City Planning Commission may prescribe appropriate additional conditions and safeguards in order to enhance the character of the building and to minimize adverse effects on the character of the surrounding area.