For developments, enlargements, and conversions on zoning lots with qualifying buildings existing on December 15, 2021, residential uses shall only be permitted upon certification by the Chairperson of the City Planning Commission to the Commissioner of the Department of Buildings that the zoning lot, as it existed on December 15, 2021, will contain at least the amount of non-residential floor area that existed within such qualifying buildings on the zoning lot on December 15, 2021, or where the qualifying building will be converted to residences that are exclusively income-restricted housing units. For the purposes of this Section, non-residential floor area shall not include residences, including dwelling units that are registered Interim Multiple Dwellings or are covered by the New York City Loft Board pursuant to Article 7-C of the New York State Multiple Dwelling Law or that the Loft Board determines were occupied for residential use on September 1, 1980, joint living-work quarters for artists, community facility uses with sleeping accommodations or transient hotels, where permitted.

A restrictive declaration acceptable to the Department of City Planning shall be executed and recorded, binding the owners, successors and assigns to provide the amount of non-residential floor area that existed within qualifying buildings on December 15, 2021, on the zoning lot. Such restrictive declaration shall be recorded in the Office of the City Register.