The historic incentive permit shall be available only to:
A. Those properties that are designated as a local historic landmark in the city of Beverly Hills pursuant to the provisions set forth in article 32 of this chapter, or
B. Any property that the cultural heritage commission or the city council has determined, at a preliminary hearing held pursuant to subsection 10-3-3215A5 of this chapter, merits formal consideration by the cultural heritage commission for nomination as a landmark; provided, however, that any historic incentive permit issued by the planning commission pursuant to this subsection shall be expressly conditioned on the property's designation as a landmark by the city council and inclusion on the city of Beverly Hills' local register of historic places. (Ord. 15-O-2682, eff. 11-19-2015)