The agent may require subdividers of residential subdivisions to set aside land for parks, playgrounds, schools, libraries, municipal buildings and similar public and semipublic uses, subject to the following regulations:
(A) Subdividers shall not be required to dedicate land for parks or playgrounds exceeding 10% of the area of the subdivision, exclusive of street and drainage reservations, without reimbursement by the Council. Where land is required in excess of this amount, the reimbursement by the Council shall be based on an amount as agreed between the town and the property owner;
(B) Subdividers shall not be required to reserve land for public purposes other than streets, drainage, parks and playgrounds, except on a reimbursement basis. They shall be reimbursed by the jurisdiction or agency requiring the land. The town shall be required to obtain an option on the property involved for a period of 12 months following the recording of the plat for the purchase. If the land is not purchased within the 12 months it may be sold as lots for the same purpose for which the subdivision was platted. To facilitate the possible eventual sale of reserved land as separate lots, the subdivider shall show on his or her final plat, by dotted lines and dotted numbers, the sizes and dimensions of lots to be created within the boundaries of any reserved land, and may sell the lots, after the expiration of the reservation, by lot number, without filing an amended plat;
(C) The agent shall make certain that lands so reserved are divisible in the same manner as the remainder of the subdivision so that the subdivider will not be required to reserve an unusable portion of his or her subdivision; and
(D) Nothing in this section shall be construed to mean that land may be set aside for commercial purposes in a residential district, without the land so required for commercial use being zoned appropriately in accordance with Chapter 153.
(1997 Code, § 58-216) (Ord. passed 2-21-1977, § 5-34)