In the event, in addition to any other remedies provided by law, a developer fails to construct and sell or rent its required low and moderate income housing in accordance with the provisions of its final development approval and Section 16-6 of this chapter, the developer shall be subject to a revocation of its development permit, cessation of issuances of certificates of occupancy until the development is brought into compliance, and/or be subject to the penalties contained in Section 16-27 of this chapter.