No development shall take place within the Borough, nor shall any land be cleared or altered, nor shall any watercourse be diverted or its channel or floodplain dredged or filled, nor shall any parking areas, accessory or otherwise, or accessways thereto be constructed, installed or enlarged, nor shall any building permit be issued with respect to any such structure, land or parking area except in accordance with an approval of such development granted pursuant to this chapter unless exempted in accordance with § 340-21. Where a lot is formed from part of a lot already occupied by a building, such subdivision shall be effected in such a manner as not to impair any of the requirements of this chapter with respect to the existing building and all yards and other open space in connection therewith and so that all resulting lots have adequate dimensions consistent with the requirements of the zoning district in which it is located.