residence of the resident household selected to occupy the unit. (3) Upon approval by the Program Administrator the declaration of restrictive covenant shall be recorded in the Land Records Division of the Office of the Clerk of the County of Westchester prior to the issuance of a certificate of occupancy for any AFFH Unit. J. Affirmative marketing. The AFFH Units created under the provisions of this section shall be sold or rented, and resold and re-rented during the period of affordability established by the Board of Trustees during a time period of not less than 50 years, only to qualifying income-eligible households. Such incomeeligible households shall be solicited in accordance with the requirements, policies and protocols established in the Westchester County Fair and Affordable Housing Affirmative Marketing Plan, for so long as the Westchester Report of the Croton Housing Taskforce Page 44 County Fair and Affordable Housing Affirmative Marketing Plan remains in effect, so as to ensure outreach to racially and ethnically diverse households. K. Resale requirements. (1) The owner of an AFFH Unit shall be responsible for such unit's resale in conformance with the provisions of this chapter, procedures of the Program Administrator and any applicable federal, state or local requirements. The owner shall provide the Program Administrator with a notice of intent to sell or otherwise transfer title prior to entering into any contract for sale or transfer of the units. The Program Administrator will inform the owner in writing, of the applicable income eligibility and maximum resale price, as determined by the Program Administrator. Prior to closing, the owner shall submit to the Program Administrator sufficient information to demonstrate compliance under this chapter, the procedures of the Program Administrator and any federal, state or local requirements, to the satisfaction of the Program Administrator. (2) Title to property containing an AFFH Unit shall be restricted so that in the event of any transfer of title, including resale, by the home buyer or any successor, the resale price shall not exceed the then-maximum sales price for said unit, as determined in accordance with § 250-26.1G of this chapter or the sum of the following, whichever is greater: (a) The actual purchase price of the unit by the home buyer; (b) The value of any Fixed Improvements made by the home buyer, as determined by the Program Administrator; and (c) Reasonable and necessary expenses incidental to the resale. L. Lease renewal requirements. (1) Renters of AFFH Units shall sign leases for a term of no more than two years. As long as a resident remains eligible and has complied with the terms of the lease, the resident shall be offered renewal leases for a term of no more than two years each. Prior to execution of a renewal lease, the owner shall submit sufficient information to the Program Administrator for the Program Administrator's verification of the proposed renter's income eligibility. Report of the Croton Housing Taskforce Page 45 (2) Renewal of a lease shall be subject to the conditions of federal, state or county provisions that may be imposed by the terms of the original development funding agreements for the development to which the AFFH Unit is a part or to the provisions of other applicable local law. If no such provisions are applicable and if a resident's annual gross income should subsequently exceed the maximum then allowable, then said resident shall pay the greater of the rent amount payable under the provisions of this section or 30% of the resident's monthly adjusted household income, provided that the increased rent may not exceed the market rent in that development for units within the same number of bedrooms for a term of not more than one year. M. Administration and monitoring. (1) The Board of Trustees shall, by resolution, designate a local not-for-profit agency to serve as Program Administrator. (2) The Program Administrator shall be responsible for administering the requirements of § 250-26.1J, K and L of this chapter by monitoring the AFFH Units during their periods of affordability and by monitoring compliance with the affirmative marketing responsibilities of the developers of the AFFH Units Report of the Croton Housing Taskforce Page 46