A public hearing shall be held before the City Council on all petitions for initiations for reversions to acreage. Notice of the public hearing shall be given as provided in Section 66451.3 of the Government Code. The City may give such other notice that it deems necessary or advisable.
   The City Council may approve a reversion to acreage only if it finds and records in writing that:
   .010   Dedications or offers of dedication to be vacated or abandoned by the reversion to acreage are unnecessary for present or prospective public purposes; and
   .020   Either:
   .011   All owners of an interest in the subdivision have consented to reversion; or
   .012   None of the improvements required to be made have been made within two years from the date the final tract or parcel map was filed for record, or within the time allowed by agreement for completion of the improvements, whichever is later; or
   .013   No lot shown on the final tract or parcel map was filed for record.
   The City Council may require as conditions of the reversion:
   .030   The owners dedicate or offer to dedicate streets or easements.
   .040   The retention of all of a portion of previously paid subdivision fees, deposits or improvement securities if the same are necessary to accomplish any of the provisions of this Chapter. (Ord. 3474 § 2 (part); October 21, 1975.)