Minimum frontage requirements for building lots

This is a part of the text from Ordinance (???)
No house or other residential structure should be erected or constructed on any lot or parcel of land containing less linear frontage on publicly-dedicated and improved street than the greater of the following two distances: (i) 50 feet, and (ii) a distance equal to the arithmetic average of the street frontage of all lots located both on the same street and within 500 feet of the outside boundaries of such lot or parcel.

This would restrict me and 10 other lot owners in the village to make them "un-buildable" I suppose you could always get a variance. Here are a couple of problems that I have with this ordinance.

1. Riverlea was founded in 1939 in the spirit of "less government involvement"
2. The lots certainly were buildable before this ordinance. I will cite the most recient addition to our neighborhood, 49 W SOUTHINGTON built in 1999 with a frontage of 50 ft. ( though the lot is slightly pie shaped )
3. My old house with side driveway was on a 40 foot lot.
4. There are multiple houses in the village build on 50 ft wide lots.
5. THAT I PAID A SHIT LOAD to pay for that lot, and have received offers to purchase it in order to build.

Unfortunately the council passed this ordinance, and I wish they would make their businesses public on line some where ( like here ). Now we have to go through the trouble of having it rescinded. Shouldn't be difficult I hope, they all are nice people and I'm sure they want to get this corrected as much as I ( and the others ) do.