The application shall include a petition signed by at least three residents who are owners of real property and registered voters in the City stating that:
(1) the applicant:
(i) is personally known to the signers of the petition; and
(ii) is a resident or taxpayer of the City at the time the applicant presents the application to the signers of the petition;
(2) if the applicant is a corporation, at least one of the applicants:
(i) is personally known to the signers of the petition;
(ii) is a resident or taxpayer of the City at the time the applicant presents the application to the signers of the petition; and
(iii) is a registered voter in the State; and
(3) if the applicant is a partnership, all members of the partnership are residents of the City at the time the applicants present the application to the signers of the petition.