No demolition permit or alteration permit for partial demolition involving a decrease of more than 20 percent in the amount of residential floor area in a building shall be issued by the Department of Buildings for any building containing dwelling units within the Preservation Area, unless it is an unsafe building and demolition is required pursuant to the provisions of Title 28, Chapter 2, Article 216 of the New York City Administrative Code.

However, the City Planning Commission, by a special permit, may allow demolition of buildings containing dwelling units or rooming units other than unsafe buildings within the Preservation Area, provided that the Commission makes the following findings:

(a)        that the existing building:

(1)        is not eligible for rehabilitation under any active publicly-aided program under which funds are available; or

(2)        is to be substantially preserved and requires an alteration permit to allow the removal and replacement of 20 percent or more of the floor area.

(b)        that prior to evicting or otherwise terminating the occupancy of any tenant preparatory to demolition, the owner shall have notified the applicable governmental agency of its intention to demolish the building.

(c)        that the Department of Housing Preservation and Development has issued a certification of no harassment or that the owner has complied with paragraph (d) of Section 96-110; and

(d)        that an acceptable program for development of the zoning lot is submitted to the Commission which indicates that to the extent permitted by the provisions of Section 96-10 (PRESERVATION AREA), the number of new dwelling units to be constructed is at least equal to the number of dwelling units to be demolished and that the floor area of the development containing residences is at least equal to the floor area of the dwelling units to be demolished and that site development will commence within a period of twelve months from completion of relocation.

The Commission may prescribe appropriate conditions and safeguards to ensure that any interim use proposed on the site prior to any construction is in conformance with the purposes of this Special District.