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Open space impact fees shall be earmarked for open space acquisition and capital improvements which provide a direct and material benefit to the new development from which the fees are collected. Fees may not be used to cure existing park deficiencies. Open space impact fees must be expended within the same or a contiguous community area from which they were collected after a legislative finding by the city council that the expenditure of fees will directly and materially benefit the developments from which the fees were collected. Community areas are geographic areas which are identified in the City Space Plan and designated pursuant to Chapter 1-14 of the Municipal Code of the City of Chicago.
(Added Coun. J. 4-1-98, p. 65269)
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