The owner or owners of any tract of land comprising an area of not less than four (4) acres or all or part of a renewal or redevelopment area may submit to the City Clerk a plan for the use and development of all such tracts of land for residential purposes. Such development plan shall be referred to the Planning and Zoning Commission for study, public hearing and report to the Board of Aldermen, which may authorize rezoning and the issuance of zoning permits and certificate of occupancy, therefore, even though the use of the land and the use and location of structures including the yards and open spaces required by this Chapter does not conform in all respects to the regulations contained in other Sections of this Chapter. (The procedures for filing an amendment in Section 405.540 shall be followed.) The Planning and Zoning Commission may recommend the development as submitted, or may modify, alter, adjust or amend the plan before recommendation, or deny the plan and shall make a report to the Board of Aldermen setting forth its reasons for approval, or denial of the application and if approved, specific evidence and facts showing that the proposed community plan meets the following conditions:
1.
The value of building and the character of the property adjoining the area included in such plan will not be adversely affected.
2.
Such plan is consistent with the intent and purpose of this Chapter to promote public health, safety, morals, and general welfare.
3.
The building shall be used only for residential purposes and the usual accessory uses, such as automobile parking areas, garages, and community activities, including churches.
4.
The average lot area per family contained in the site, exclusive of the area occupied by streets, shall be not less than the lot area per family required for the district in which the development is located.