No selling or leasing homes before city council approval

(a) For the purposes of this section, the following definitions apply unless the context clearly indicates or requires a different meaning. Development Agreement. The agreement or contract between the city and a developer concerning the development of a housing project on city real property to be leased or otherwise conveyed to the developer. Prelease of a Dwelling Unit. The lease of a dwelling unit by its developer to a lessee before the commencement of construction of the unit. Presale of a Dwelling Unit. The sale of a dwelling unit by its developer to a purchaser before the commencement of construction of the unit. Proposed Housing Project on City Real Property. A housing project proposed to be developed by a private person on city real property to be leased or otherwise conveyed to that person. (b) The department shall not allow the presale or prelease of a dwelling unit in a proposed housing project on city real property before council approval of the pertinent development agreement. (c) A prospective developer of a proposed housing project on city real property shall not engage in or authorize the presale or prelease of a dwelling unit in the proposed project before council approval of the pertinent development agreement. (d) Subsections (b) and (c) shall not prohibit the following: (1) The presale or prelease of a dwelling unit in a proposed housing project after council approval of the pertinent development agreement; or (2) The presale or prelease of a nondwelling unit in a proposed housing project at any time.