Where the Council finds that extraordinary hardship may result from strict compliance with these regulations, it may vary the regulations so that substantial justice may be done and the public interest secured. In granting any variance, the Council shall prescribe only conditions that it deems necessary to or desirable for the public interest. In making its findings, as required below, the Council shall take into account the nature of the proposed use of land and the existing use of land in the vicinity, the number of persons to reside or work in the proposed subdivision and the probable effect of the proposed subdivision upon traffic conditions in the vicinity. No variance shall be granted unless the Council finds that:
A. 
There are special circumstances or conditions affecting said property such that the strict application of the provisions of this chapter would deprive the applicant of the reasonable use of his or her land.
B. 
The variance is necessary for the preservation and enjoyment of a substantial property right of the petitioner.
C. 
The granting of the variance will not be detrimental to the public welfare or injurious to other property in the territory in which said property is situated.
Any modification thus granted shall be entered in the minutes of the Council, setting forth the reasons which, in the opinion of the Council, justified the modifications.