That's a new one... the HOA is demanding a cut and doing nothing productive in return. Wow! I need to start billing my neighbors for 'approving' their choice of yard art.
Seriously, you have an ally in this situation, the FCC. They have established rules that supersede those of the HOA, city, county & state.
http://www.fcc.gov/guides/over-air-r...n-devices-rule outlines the FCC rules, which protect your right to install a TV receiving antenna that can be any size needed to receive the signals that you desire. The rules also go so far as to protect you from unreasonable delay and expense.
I'm not one to encourage you to pick a fight, but I also believe the HOA should respect your rights.
So, I would suggest you install an Antennas Direct 91XG, Antennas Direct DB8E (not the older DB8) or a Winegard HD9095P. Also, install a PA-18 preamplifier with the antenna.
I would only consider installing the antenna system outdoors where it has a clear view toward the NW. A roof mounted system on a tripod & 10' mast would be my preference, unless you have an even higher option.