(a) Ownership of the common open space in a residential compound development shall be in accordance with the following: ownership by the individual lot owners as tenants in common. The deed to each lot shall include a proportionate share of the common open space. Each lot owner shall be required to be a member of a homeowners' association, which shall be formed prior to conveyance of the first lot. The assessment of dues and/or fees for structural improvements requires the affirmative vote of no less than two-thirds of the homeowners' association membership.
(b) Open space shall be protected against building development and environmental damage by conveying to the town an open space easement restricting the area against any future building and against the removal of soil, trees and other natural features, except as is consistent with conservation, recreation or agricultural uses or uses accessory to permitted uses.

(Rev. Ords. 1974, § 17-17-5)

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