Which of the following is an essential function of a municipality in condominium governance?

Overseeing development approvals is an essential function of a municipality in condominium governance because it involves ensuring that any new condominium projects comply with local zoning laws, building codes, and community standards. Municipalities have the authority to review and approve plans before construction begins, which helps maintain the character of the neighborhood and ensures that developments meet safety and environmental standards. This function is crucial in the early stages of a condominium development to manage land use effectively and to balance the interests of developers with those of existing residents and the community at large.

In contrast, while conducting performance audits, facilitating community meetings, and managing condominium finances are important aspects of condominium management, they typically fall under the responsibilities of the condominium board or property management teams rather than the municipality. Municipalities may play a role in some of these areas by providing resources or guidelines, but the primary oversight and management functions are more directly related to the internal governance of the condominium corporation itself.