17.68.120 Land use restriction agreement and covenants.
A. At the time of final approval of every PAD, the City and the developer/subdivider shall execute and record in the land records a land use restriction agreement (LURA) implementing and providing for enforcement of the affordability controls specified in this chapter. The LURA shall be a deed restriction running with the land, and binding upon the original grantor, and all successors and assigns in title. The LURA shall provide, at a minimum, the following:
1. The affordable housing units shall at all times be leased or sold to, and occupied by, eligible persons;
2. The affordable housing units shall be leased at rent levels affordable to eligible persons for a period of not less than fifty years from the date of the initial certificate of occupancy;
3. The affordable housing units shall be sold at sales prices affordable to eligible persons for a period of not less than fifty years from the date of the initial certificate of occupancy;
4. Subleasing of PAD affordable rental units and leasing of PAD affordable sales units is prohibited, except that eligible persons may lease or sublease affordable units as otherwise provided in this chapter, and as verified by the City;
5. The offering or use of any PAD units (including market rate units) as overnight accommodations is prohibited;
6. The number of affordable units shall not be reduced and shall remain at the originally approved affordability level for a period of not less than fifty years; and
7. Provisions for enforcement and monitoring of the affordability controls, including (as applicable) specific performance, damages, and an award of attorney fees and costs in the event of a violation.
B. Maintenance. For PAD rental developments the LURA shall contain provisions providing that the owner shall maintain all units in a safe, sanitary, and functional condition in accordance with the provisions of the International Property Maintenance Code, as adopted by the City, or its equivalent.
C. Recording Deed Restrictions. The LURA shall be recorded in the land records prior to the recording of the final plat for a PAD subdivision or prior to the execution of a final site plan for a PAD rental development.
D. Monitoring. The developer/owner shall manage and operate all affordable units and shall submit an annual report to the City of Moab, or its monitoring agency, identifying which units are affordable units in a PAD, the monthly rent for each unit, vacancy information for each year for the prior year, monthly income for tenants of each affordable units, and other information as required by the LURA. The annual report shall contain information sufficient to determine whether tenants are eligible for affordable housing as provided by this chapter.
1. A subdivider/owner marketing affordable units for sale shall submit an annual report to the City identifying all affordable units sold in the last calendar year, the original purchase price for each unit, and information sufficient to verify purchaser eligibility, as required by the LURA. The annual report shall contain information sufficient to determine whether home purchasers are eligible for affordable housing as provided by this chapter.
2. The City or its monitoring agency shall be authorized to audit and review all developer, subdivider, and owner records pertaining to housing developed under this chapter to verify compliance with this chapter and all affordability controls.
E. Extension of the LURA. The duration of the LURA may be extended for additional successive ten-year terms if the City Council certifies in writing at or before the expiration that there is a continuing need for affordable housing, and that it is reasonable that the affordability controls continue. In that case the City may execute any necessary documents to give effect to this provision.
F. Covenants. Covenants, conditions, and restrictions (CCRs) for a PAD subdivision shall be reviewed and subject to approval by the City contemporaneous with final plat approval. The CCRs shall provide mechanisms for enforcement of community rules, collection of assessments (if applicable), and maintenance of common areas. (Ord. 19-02 (part), 2019)