The following shall establish requirements and guidelines for those developments including a homeowners association (HOA) or any similar entity.
(A) A copy of the recorded organizational papers and by-laws shall be submitted at the final plat review stage to the Development Review Board for review and approval. Such organizational papers and by-laws shall be applied to the entire development.
(B) The homeowners association shall be established before the homes or units are sold.
(C) Membership shall be mandatory for each buyer, and any successive buyer.
(D) The developer or any subsequent developer shall manage the homeowners association, which shall be responsible for all maintenance of the development, until 60% of all units to be sold are sold.
(E) The homeowners association shall be managed on a nonprofit basis; however, nothing herein shall be construed to prohibit the payment of a fair market management fee to the developer.
(F) The developer shall have the right to maintain control of and manage the homeowners association for the following periods:
(1) Until 98% of the total dwelling units planned are conveyed to residents;
(2) For 10 years from the date that the first plat in the development is recorded plus one year for each 50 units planned in excess of 100 units; or
(3) For 50 years from the date that the first plat in the development is recorded, whichever shall first occur.
(G) The developer, or development owner, shall pay all fees levied by the homeowners association on any improved lot which it owns and for which a final plat has been recorded in the county’s Register of Deeds, just as any other lot owner.
(H) The homeowners association shall be responsible for liability insurance, payment of local taxes, and maintenance of recreational open space and other facilities. Any dues or fees levied by the homeowners association that remain unpaid, shall become a lien on the individual property. The homeowners association shall be able to adjust the assessment to meet changing needs.
(Ord. passed 10-17-2011)