The following regulations shall govern the location of off-street parking spaces and areas:
(a) Parking spaces for all detached residential Uses shall be located on the same lot as the use which they are intended to serve;
(b) Parking spaces for commercial, industrial, or institutional uses shall be located not more than 700 feet from the principal use. Parking lots farther than 700 feet from the principal use may be approved by the Planning and Zoning Commission.
(c) Parking spaces for apartments, dormitories, or similar residential uses shall be located not more than 300 feet from the principal use.