Low income senior citizens’ apartment projects shall be permitted only in the R-4, or multifamily residential district, and C-R, or commercial residential district, (“underlying zones”) of the city and shall be only permitted in these underlying zones provided a conditional use permit is first approved pursuant to the provisions of Chapter 17.58. As a condition of approval of any such conditional use permit and prior to the issuance of any building permits for such project, the owner(s) of the property shall be required to execute and record covenants, conditions and restrictions (“covenants”) against the property in a form approved by the city attorney agreeing to restrict occupancy of all senior citizens’ dwelling units within such project to households at least one member of which is a senior citizen who is at least sixty-two years of age. Notwithstanding the provisions of Section 17.50.030, said covenants shall also allow for limited occupancy by handicapped persons under sixty-two years should a proposed project be involved in a government program which requires the low income senior citizen project to be open to handicapped persons. However, the conditional use permit and covenants required by this section may include provisions to provide that in the event that a sale in foreclosure should occur due to legitimate, normal and noncollusive defaults on a loan for a low income senior citizens’ housing project, the terms of the age restrictions required in this section will change from sixty-two years of age to fifty-five years of age, but with preference still to be given to those at least sixty-two years of age when otherwise qualifying prospective tenants at least sixty-two years of age are available. (Ord. 2020-07 § 2, 2020; Zoning Ordinance dated 7/94, 1994)