A lot held in single and separate ownership on the effective date of this chapter (Ordinance No. 1115, passed July 12, 1984), which does not contain the required minimum area or width, may be used for the construction, alteration or reconstruction of a building, or may be otherwise used, if the construction, alteration, reconstruction or other use is in compliance with the use, yard, setback, density and other pertinent provisions of this chapter.