located if the off-site parking is in accordance with the following standards and other provisions of this Article:
(1) Location . The parking provided on a separate lot shall be within 500 feet from the property line containing the principal use(s) the off-site parking is serving. The off-site parking shall be approved as part of a site plan for the principal use(s). (2) Ownership . The lot upon which the off-site parking is proposed and located shall be in the same ownership as the lot where the principal use(s) is located. If there is a different lot owner where the off-site parking is located, a written leasehold interest agreement, valid for a minimum of five (5) years, shall be executed as part of the approval of a site plan. If the leasehold interest expires or is terminated, then sufficient off-street parking, as required by this Article and other regulations in the Land Development Ordinance, shall be provided on the lot of the principal use(s), or a new leasehold interest instrument shall be acquired meeting the requirements of this Article and receive site plan approval by the Town of Fuquay-Varina for off-site parking. The leasehold agreement shall be in the following form and authorized in the following manner: A. Attested Leasehold Interest Agreement . An attested copy of the leasehold interest agreement between the owners of record, of the off-site parking and the site where the principal use is located, shall be submitted to the Planning Director or his/her designee for recordation in a form and substance established by the Town Attorney. B. Recordation . Recordation of the leasehold interest agreement shall be executed prior to the issuance of a Certificate of Zoning Compliance for any use(s) to be served by the off-site parking area. C. 90 Day Notice . The leasehold interest agreement shall include a provision that notifies the Planning Director at least 90 days prior to the termination of such leasehold interest agreement for off-site parking. D. Revoking a Leasehold Interest Agreement . An off-site parking leasehold interest agreement may be revoked only if all required off-street parking is provided on the lot of the principal use(s) in accordance with this Article.
b. Provisions for Off-Site Parking
Provisions for off-site parking shall be provided based on a distance from the principal use property to the off-site parking location as follows:
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