The City Planning Commission may authorize, within Area B, as shown on the District Plan Map in Appendix A, modifications of the underlying height and setback regulations, provided the Commission finds that:

(a)        the distribution of the bulk of the building on the zoning lot permits adequate access of light and air to the surrounding streets and properties and does not impair the views of and to the water;

(b)        the modification of the height of the building permits better site planning and distribution of open space; and

(c)        the height of the building does not exceed 35 feet.

The Commission may prescribe appropriate conditions and safeguards to protect the views of and to the water and to minimize adverse effects on the surrounding area. That portion of any zoning lot used for boat sales, manufacture, storage or repair shall be exempt from the provisions of this Section.