In lieu of dedicating public land or providing public park infrastructure, private common parks, open spaces and park infrastructure may be dedicated to and owned by a homeowners’ association or like entity if such land and infrastructure completely meet the needs of the residents it is intended to serve and satisfies all of the requirements of this chapter. Such land and improvements shall be permanently reserved, held and maintained for the park, open space and recreational uses for which they were provided, and their purposes or use shall not be altered, nor shall they be conveyed, converted, diminished or eliminated, except by express written consent by the City Council.