Any application for a building permit where five or more parking spaces are required shall be submitted to the Planning Board for site plan approval before issuance of the building permit. In approving the site plan, the Planning Board shall require curbs, paved sidewalks, drainage facilities, in accordance with specifications approved by said Board as adequate to serve the property and use involved, and may require adequate lighting to assure public safety and appropriate screening for the protection of adjacent properties when determined to be in the public interest.