In R3-2, R4 and R5 Districts, or in Commercial Districts in which residential buildings are governed by the bulk regulations of such Residence Districts, for any large-scale residential development, the City Planning Commission, by special permit, may make modifications in the open space ratio, residential floor area ratio and density regulations, pursuant to the provisions of Section 78-35 (Special Bonus Provisions), if the Commission finds that:

(a)        throughout the large-scale residential development the site plan provides a significantly better arrangement of the buildings in relation to one another and to their sites from the standpoints of privacy, access of light, organization of private open spaces and preservation of important natural features to a greater degree than would be possible or practical for a development composed of similar types built in strict compliance with the applicable district regulations;

(b)        the public facilities and utilities in the area are adequate to meet the needs of the large-scale residential development or that needed additional facilities will be provided as a part of the large-scale residential development by the developer or owner;

(c)        the large-scale residential development complies with the provisions of Section 78-351 (Common open space and good site plan); and

(d)        a large-scale residential development having an area of four acres or more complies with the provisions of Section 78-352 (Bonus for community facility space).

If the Commission determines that a proposed large-scale residential development containing not more than 250 dwelling units does not require community facility space, finding (d) shall be waived and the provisions of Section 78-352 made inapplicable. In making its determination, the Commission shall give due consideration to a recommendation from the Community Board within which the proposed large-scale residential development is located.

If a site for a fire or police station is provided within the Community District in which a large-scale residential development is to be located, which site has been donated in fee to the City, selected as a site pursuant to Section 218 (Site Selection) of the New York City Charter and, if applicable, approved under the provisions of Section 74-67 (Fire or Police Stations), the Commission may waive finding (d), provided that the community facility requirements contained in Section 78-352 are determined to be unnecessary.

Any large-scale residential development which qualifies for a bonus in accordance with this Section and the applicable provisions of Section 78-35 shall be eligible for any modifications permitted under Sections 78-311 (Authorizations by the City Planning Commission) or 78-312 (Special permits by the City Planning Commission) provided the findings of Section 78-313 (Findings) are satisfied.