Yes, the number of vacation rentals shall not exceed four percent (4%) of the total housing parcels containing completed developed housing units. This number shall not include licensed, permitted and/or entitled hotels and motels, in good standing with the City. This number shall be calculated yearly. Such vacation rental permits exceeding this number shall be rejected and not issued. Additionally, vacation rental parcels shall not be located within a five hundred (500) foot radius from another vacation rental, measured from property line to property line. Such vacation rental permits shall be rejected and not issued. Notwithstanding, vacation rentals existing and in good standing with the City as of the effective date of this ordinance shall not be denied a Vacation Rental Permit renewal solely on this factor.