A. It is concluded that equity ownership of multiple-family dwellings is a positive development for the village of River Forest (hereinafter "village") and, within certain limits, such ownership should be encouraged.
B. Because of the unique nature of condominium ownership and the age of the existing multiple-family dwelling stock in the village, it is further concluded that the quality of housing and the rights of the condominium purchaser should be protected to a greater extent than the protections provided under existing laws.
C. The village has the authority to introduce regulation into the condominium process.
D. Therefore, the purpose and intent of this chapter is to introduce regulatory elements into the condominium process that are aimed at the protection of the rights of the condominium purchasers and preserving and improving the quality of housing in an effort to encourage orderly development of the condominium concept in the village. Further, this chapter is intended to facilitate code inspections by the village and, thus, to reduce the possibility of a condominium containing material defects that would have an adverse effect on the safety of its occupants or neighboring property, would increase on street vehicle density or would place unexpected burdens on unit buyers. (Ord. 3129, 9-12-2005)