(A) Residential subdivisions developed with private streets shall establish a mandatory homeowners association. The association shall own and be responsible for the maintenance of the private streets and sidewalks. Lot deeds shall convey membership in the association and provide for deed restrictions that shall include provisions for the payment of dues and assessments required by the association, including city assessments against the association.
(B) Every owner of a lot within the private street development shall be a member of the homeowners association.
(C) The manager or president of the homeowners association shall be required to maintain and file a fidelity bond. The name of the association’s president shall be submitted to the Public Works Department and City Engineer and updated annually.
(D) The following notice shall appear in bold print on each deed to property in the subdivision, on the plat of the subdivision and on each contract on the sale of land within the subdivision:
Notice: The lots within this subdivision are governed by a homeowners association requiring the payments of fees. Failure to pay such fees subjects you to attachment of a lien on your property by the association.
(E) The association documents shall establish a reserve fund for the maintenance of streets and other improvements, and contain provisions for reliable access to provide city services and to other utility service providers with appropriate identification. The association may not be dissolved, and no portion of the association documents pertaining to this section may be amended without the written consent of the city. The deed restrictions shall expressly state this requirement.
(F) A Reserve Fund balance report shall be submitted to the City Finance Director annually to ensure that adequate fund reserves are being maintained for future repairs and/or replacement costs of the private streets and sidewalks.
(G) In the event the association fails to maintain the streets, sidewalks and streetlights in accordance with city standards, the city may repair and maintain and charge the cost to the association. If the association fails to pay for the maintenance cost, after notice to the property owners, the city may assess adjacent property owners in the manner of regular city street assessment costs. The association shall post and maintain a performance bond, in form and amount to the satisfaction of the city, to guarantee this maintenance requirement.
(H) The homeowners association documents shall indicate that the streets are private, owned and maintained by a homeowners association and the city has no obligation to maintain or reconstruct the private streets.
(I) The homeowners association documents shall indicate that the city may, but is not obligated to, inspect private streets, and require repairs necessary to insure that the same are maintained to the city’s standards.
(J) No portion of the homeowners association documents pertaining to the maintenance of the private streets shall be amended without the written consent of the city.
(K) The association documents shall be reviewed and approved by the City Attorney and the City Planner to ensure that they conform to this and other applicable city ordinances, and shall be filed of record prior to the approval of the final plat.
(Ord. 08-29, passed 10-21-2009)