(A) Each developer/owner of any subdivision development within the city shall, as a condition of that development, cause to be drafted, issued, and placed on file with the city, prior to the issuance of any building permit, excavation, or other construction permit for said subdivision, CCRs that adequately address the ongoing management and enforcement of the development conditions imposed by the developer on that development as a condition of approval by the city.
(B) At a minimum, such CCRs shall make provision for some form of perpetual maintenance and management process either through an effective home owners’ association, a dedicated trust fund of sufficient initial size that it may reasonably be expected, as determined by sound actuarial principles, to provide ongoing funding for maintenance of common area facilities, and management and enforcement of the conditions of development as set out in the CCRs, or establish and set out such other arrangements as the city may reasonably find acceptable.
(Ord. 20-2004, passed 9-1-2004)