A. Fractional Ownership with Time-Based Occupancy Restriction: Unless approved by a specific plan, the fractional ownership of any real property located in the City shall be prohibited if such ownership includes any arrangement, schedule, plan, scheme, or similar device, whether by agreement, sale, lease, deed, license, right to use agreement, or by any other means, whereby an owner of the property or a fraction thereof, receives ownership rights in, or the right to occupy, inhabit, or otherwise use, the property for a period of time less than a full year. Fractional ownership arrangements meeting the foregoing criteria are referred to herein as "Prohibited Fractional Ownership Arrangements."
B. Request for City Council Hearing:
1. Any person with a fractional ownership of real property in the City who is threatened with enforcement of the prohibition on Prohibited Fractional Ownership Arrangements or to whom a compliance letter from Community Preservation is issued pursuant to this section may apply to the City Council for a hearing to review the time-based occupancy restrictions as applied against the real property with such fractional ownership.
2. Any person who believes that the prohibition on Prohibited Fractional Ownership Arrangements is not intended to apply to a specific type of fractional ownership arrangement at any time may apply to the City Council for a hearing to review the time-based occupancy restrictions contemplated by that specific existing or contemplated fractional ownership arrangement.
3. Any application for a City Council hearing shall be in writing and shall be received by the Community Development Department along with a processing fee as set by resolution of the City Council. Any hearing application filed pursuant to paragraph (1) of this section as a result of the issuance of a compliance letter from the City's Community Preservation division shall be received by the Community Development Department within thirty (30) days after the date of the compliance letter. Notice of any hearing held pursuant to this section shall be completed in accordance with article 2.5 of this chapter and the City's public notice guidelines.
C. Required Finding for Exemption from Time-Based Occupancy Restrictions for Fractionally Owned Real Property: The prohibition on fractional ownership of real property with a time-based occupancy restriction shall not apply to the real property if the City Council makes the following findings after a hearing as provided in the foregoing paragraph B. above:
1. The fractional ownership of the real property is not the type of fractional ownership arrangement that the City Council intended to prohibit based on the specific facts and circumstances of the arrangement; and,
2. The fractional ownership arrangement will not disturb the stability of a residential neighborhood or residential building and will not adversely impact existing or future development, redevelopment, safety, and proper maintenance of the real property. (Ord. 23-O-2877, eff. 7-7-2023)