Where a park, playground, school or public access to water frontage which is shown on an official map or in a plan for the future use, is located in whole br in part in the proposed subdivision, or is deemed essential by the City Planning Commission, the Commission may request the dedication of such area within the subdivision. Should such dedication equal or exceed ten percent of the area to be developed, such action shall be in lieu of all other requirements relating to the purposes herein provided.
The Commission shall, wherever possible, establish the preservation of all natural features which add value to residential developments and to the community, such as large trees or groves, watercourses, areas of historical significance and similar irreplaceable assets.
Every subdivider and developer of planned commercial, industrial or residential sites, except as noted above, will be required to make payment for that portion of benefits from public sites accruing to his land at the rate of four hundred dollars ($400.00) per gross acre or fraction thereof being developed. Such payments to the City shall be placed in the Park Fund to be used exclusively for capital improvements of parks and playgrounds.