The Board may authorize a variance from these regulations when, in its opinion, undue hardship will result from requiring strict compliance with the terms of this chapter. For example, if the subject property substantially differs from other similarly zoned land parcels by being of such restricted area, shape or slope so that it cannot reasonably be developed in the same manner as other similarly zoned land parcels, then a variance of the building setback, lot/tract width or depth, or parking requirements may be granted. In granting a variance, the Board shall prescribe only conditions that it deems necessary for, or desirable to, the public interest. In making the findings herein below required, the Board shall take into account the nature of the proposed use of the land involved, existing uses of land in the vicinity, the number of persons who will reside or work within the proposed use, and the probable effect such variance will have upon traffic conditions and upon the public health, safety, convenience and welfare of the community.