In all districts in the Transit Zone, the Board of Standards and Appeals may permit a waiver of, or reduction in, the number of required accessory off-street parking spaces required for government-assisted dwelling units subject to restrictions on rents in developments or enlargements, provided that the conditions and findings set forth in this Section are met.

As a condition for such waiver or reduction, at least 20 percent of all dwelling units in such development or enlarged building shall be income-restricted housing units, and an additional 30 percent of all dwelling units in such development or enlarged building shall be subject to a legally binding restriction limiting rents as prescribed by a City, State, or Federal agency, law, regulation, or regulatory agreement, for a period of not less than 30 years.

In order to grant such permit, the Board shall find that such waiver or reduction will:

(a)        facilitate such development or enlargement;

(b)        not cause traffic congestion; and

(c)        not have undue adverse effects on residents, businesses or community facilities in the surrounding area, as applicable, including the availability of parking spaces for such uses.

The Board may impose appropriate conditions and safeguards to minimize adverse effects on the character of the surrounding area.