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Ordinance No. 1059 Page x to ensure the affordability of the affordable housing units in accordance with this Policy. (C) The applicant or owner must prepare and record all documents, restrictions, easements, covenants, and/or agreements that are specified by the city as conditions of approval of the application prior to issuance of any zoning permits or approvals for any development subject to this Policy. (D) Documents described above shall be recorded with the County Registry of Deeds by the applicant or owner, with copies of recorded documents provided to the city. SECTION 3. The City Council of the City of Mounds View hereby amends Title XI: Business Regulations, Chapter 119 of the Mounds View Municipal Code by adding the following section 119.030- 119.034 as follows: SALE OF AFFORDABLE HOUSING BUILDINGS 119.30 PURPOSE The purpose of this article is to provide housing stability, protection, and notification to tenants in rental housing during an ownership transition. This article requires notice to tenants and to the city whenever title to property containing three (3) or more rental housing units is conveyed or otherwise transferred. Under this article, the owner would be required to pay resident relocation benefits if they take certain actions during the three- month tenant notification period and the resident needs to move as a result of that action. 119.31 NOTICE. (A) Notice to tenants. Whenever title to property containing three (3) or more rental housing units, as defined in this Chapter, is conveyed or otherwise transferred, the new owner must, within 30 days after the real estate closing, deliver written notice to each housing unit tenant of the housing building that the property is under new ownership. The notice must include, at a minimum, the following information: (1) The name, mailing address, and telephone number of the new owner. (2) The following statement: "Mounds View City Code Title XI, Chapter 119 provides for a three-month tenant notification period for housing unit tenants. Under the ordinance, a housing unit tenant may be entitled to relocation assistance from the new owner if, during the three-month tenant notification period, the new owner: i)Terminates or does not renew the tenant's rental agreement without cause; ii)Raises the rent and the tenant terminates their rental agreement due to the rent increase; iii)Requires existing tenants to be rescreened or comply with new screening criteria and the owner or tenant terminates the