Permanent preservation of open space or agricultural land by appropriate deed restriction or legal mechanism acceptable by the Township. Prior to determining the ownership of the property to be preserved (restricted), the applicant may offer it for dedication to the Township. In deciding whether or not to accept any public open space, the Board of Supervisors may obtain the recommendation of the Parks and Recreation Board, Planning Commission, or Township staff. Any preserved property, if not to be accepted for dedication by the Township, shall be maintained in the same manner as it was prior to the transfer of development rights or in a manner acceptable to the Township. This land can be managed by a homeowners' association, a recognized conservation organization, the landowner severing his/her rights, or other group as approved by the Township, once the mechanism for conservation is in place. If the managing organization is a homeowners' association, the organization and governing documents must adequately provide for the preservation and conservation of the land to the satisfaction of the Township.