(a) Upon application by the subdivider, the Director may authorize exceptions to any of the substantive requirements set forth in this Code and in the Subdivision Regulations.
(b) Before granting any such exception in whole or in part, the Director shall hold a public hearing on the requested exception. Furthermore, he must find:
(1) That there are unusual circumstances or conditions affecting the property;
(2) That the exception is necessary for the preservation and enjoyment of a substantial property right of the applicant;
(3) That the granting of the exception will not be materially detrimental to the public welfare or injurious to other property in the area in which said property is situated; and
(4) That the granting of such exception has been determined by the City Planning Commission to be consistent with the Master Plan, after said Commission has held a public hearing.
(c) In granting any such exception, the Director shall designate the conditions under which the exception is granted.