For any development or enlargement subject to Section 119-20 (PROVISIONS REGULATING TIER II SITES), the City Planning Commission may authorize variations in required front, rear or side yards, variations in required space between buildings on the same zoning lot and modifications in the underlying district height and setback regulations.

In order to grant such authorizations, the Commission shall find that:

(a)        development is not feasible without such modification, or that the requested modification will permit a development, enlargement or site alteration that better satisfies the purposes of this Chapter;

(b)        such modification is the least modification required to achieve the purpose for which it is granted; and

(c)        the proposed bulk and placement of buildings and the proposed arrangement of open spaces will not have significant adverse effects upon the light, air and privacy for existing development in adjacent areas or the opportunities therefor in future development.