No home-based business shall be conducted until a home-based business permit shall be issued by the Director of Public Services. Such permit shall be issued upon determination by the Director that the proposed use complies with all of the requirements of this chapter and that the appropriate business license has been issued by the City. An application for such permit shall be accompanied by a filing fee in an amount established by the Board of Aldermen. The permit shall be issued only to the individual occupying a dwelling as his or her residence. As such, home-based business permits shall not be transferable and shall terminate upon sale or transfer of the property to a new owner, or the termination of the tenancy for the individual to whom a home-based business permit has been issued.