A property owner seeking to complete an urban lot split, or develop units on a single-family residential property pursuant to the regulations set forth in SB 9 and the standards in this article, shall be subject to the following general requirements, which shall be accepted and acknowledged by the property owner by signing and recording a covenant against the property. The covenant shall be supplied by the City and provide as follows:
   A.   The short term rental (defined as a "single-family transient use" in section 10-3-100 of this chapter) of any units and accessory dwelling units (ADUs) on the site shall be prohibited;
   B.   Non-residential uses on the site shall be prohibited;
   C.   Any subsequent urban lot split of land that was previously subdivided with an urban lot split shall be prohibited;
   D.   The owner of the property for which an urban lot split is proposed shall sign an affidavit stating that the owner intends to occupy one of the housing units as their principal residence for at least three (3) years from the date of the approval of the urban lot split; and
   E.   If, pursuant to SB 9, more than one unit is developed on a lot, one of such units shall be rented or leased at a maximum rate affordable to low income tenants, if it is rented. Upon request from the City, the property owner shall furnish a copy of the rental or lease agreement of any unit that is rented or leased and has resulted from an SB 9 project. (Ord. 21-O-2853, eff. 12-7-2021; amd. Ord. 22-O-2856, eff. 1-18-2022)