Residences shall be situated on tracts of land providing at least eight thousand five hundred (8,500) square feet of lot area for each residence; except, that any lot or tract of record between March 16, 1982 and June 17, 1997, which contains a minimum of seven thousand five hundred (7,500) square feet may be used as a site for one (1) single-family residence together with customary accessory structures and uses, and any lot or tract of record on March 16, 1982 which contains less area than seven thousand five hundred (7,500) square feet may be used as a site for one (1) single-family residence together with customary accessory structures and uses.
No new lots shall be created of less than eight thousand five hundred (8,500) square feet in area.