The Planning Commission may pursuant to the authority of the Statutes, Chapters 713 and 735 of the Revised Code of Ohio, or such Statutes hereinafter in effect, prepare plans of unsubdivided or improperly subdivided areas showing a pattern of future streets and public open spaces. After the proper public hearing, such plans, or parts thereof, may be adopted by the Commission and recorded, and thereafter no subdivision may be approved and no street may be accepted or improved unless it conforms substantially to such recorded plan; and no application for a permit to construct a building on land shown within the right-of-way of a future street shall be issued until said land has been acquired or reserved for street purposes, but such permit shall not be withheld for a period exceeding ninety (90) days.