Whenever the parking requirements for a proposed use based on the application of the standards specified in Schedule 1143.04 can be shown by the applicant to result in an excessive number of parking spaces and that a lesser number of spaces is appropriate and consistent with these regulations, the Planning Commission may approve a site plan with a reduction in the required spaces according to the following provisions:
(a) Shared Parking for Mixed Uses. The shared use of required parking spaces may be permitted for uses that are not normally open, used or operated during the same hours, provided that not more than fifty percent (50%) of the required parking spaces are shared. In any case where the required parking spaces are collectively or jointly provided and used, a written agreement thereby assuring their retention for such purposes shall be properly drawn and executed by the parties concerned, approved as to form by legal counsel, and filed with the application for zoning approval.
(b) Deferred Construction of Required Spaces. If the number of parking spaces required in Schedule 1143.04 is substantially larger than the number anticipated by the applicant and the applicant provides sufficient evidence that supports the reduced parking needs, a site plan may be approved with a lesser number of parking spaces provided:
(1) That the total number of spaces initially provided shall not be less than seventy percent (70%) of the spaces required by Schedule 1143.04 for industrial uses and forty percent (40%) of the spaces required for commercial uses.
(2) That suitable area(s) are reserved for the construction of the balance of the total number of spaces otherwise required by Schedule 1143.04 and shall be illustrated on the site plan in locations and with landscaping in full compliance with this Chapter.
(3) That Planning Commission and Council, upon reevaluation of the project's parking needs, may at any time direct that some or all of the landbanked spaces be constructed.
(4) That any additional parking shall be provided according to the approved site plan and only after approval of the construction plans by the city engineer.