(A) A homeowners’ association, or in the case of nonresidential development, an owners’ association, shall be established to provide for the maintenance of all facilities and/or properties held in common within planned unit developments. These shall include, but not be limited to, private streets and walkways, private recreational facilities and common lots and open space areas.
(B) The sub-divider shall submit evidence as to the financial ability of the homeowners’ association to maintain any property or facilities held in common ownership, including the estimated annual cost of maintaining all common properties and facilities; the estimated monthly fee that shall be assessed to each residential property; and an estimate of the value of the dwelling units that will be constructed within the planned unit development. Any homeowners’ association and accompanying regulations shall be reviewed and approved by the City Attorney.
(Prior Code, § 23.09.06)