A condition of project approval shall be a common ownership of all designated affordable units, to be maintained in one person, firm, partnership or corporation, and that a covenant binding said owner, or the heirs, executors or assigns thereof, to the use of said property for such housing of very low-, low-, and/or moderate-income residents be recorded in the office of the Riverside County Recorder. Said covenant shall be in the form and fashion approved by the City Attorney prior to recordation, and shall run with the land in favor of the City of Indian Wells, and all tenant occupants of said structure or units, containing therein the agreement and promise of said owner, or the heirs, executors or assigns thereof, that said property will not be used for any purpose other than the housing of very low-, low-, and/or moderate-income residents. No one other than those persons defined as very low-, low-, and/or moderate-income shall occupy any unit constructed and maintained pursuant to this Chapter, and no person shall permit any person to violate this Section. No persons shall rent or provide any housing to any person who may not lawfully occupy the same in accordance with the provisions of this Section.
(Ord. 387 § 1, 1996)