No building, either residential or commercial, shall be permitted within six (6) vertical feet and one hundred twenty five (125) horizontal feet, whichever is greater, of the existing flow line of any river, creek, stream, or other waterway, measured at right angles to the centerline of the drainage course or within any discernible floodplain, except upon the granting of a conditional use permit for such development. The vertical calculation specified herein shall be applied to the elevation of the top of a building's foundation wall.