§ 23-754. Conveyance of land, streets or facilities to an owners association.

Where common land, private streets or facilities are not to be dedicated to the city but are to be conveyed to an owners association, the following standards shall apply:

a. The organization or legal entity established for the purpose of owning and maintaining common land, private streets or facilities shall be created by covenants running with the land. The documents creating such an association shall be reviewed and approved by the city attorney prior to issuance of the final development order.

b. No such organization shall be dissolved nor shall it dispose of any common land, private streets or facilities by sale or otherwise except to an organization conceived and organized to own and maintain such property. The organization may offer to dedicate all such land, streets and facilities to the city. The city may make acceptance subject to improvements which shall be made before the land, streets or facilities are transferred. If the city agrees to accept the land, streets or facilities, the organization may be disbanded, but not before the improvements are made and the property is transferred.