(A) Where the development is small and the resulting site is too small to be practical or when the available land is geologically and topographically inappropriate for park and recreational purposes as determined by the village, or where the village, in its discretion, determines a land dedication to be otherwise inappropriate, the village shall require the subdivider or developer to pay a cash contribution in lieu of the land dedication required. The cash contribution in lieu of park and recreation land, as herein classified, will be available to serve the immediate or future needs of the residents of that subdivision or development or for the improvement of other existing local park and recreation land needs and not, however, to include operational expenses. The village shall hold the donation plus all accumulated interest in a separate account specifically for the acquisition or improvement of park and recreational land and/or acquisition of equipment and buildings for park and recreational land.
(B) Fair market value. The cash contribution in lieu of land shall be based on the fair market value of the acres of land in the area that otherwise would have been dedicated as a park site as set forth in § 153.146. The fair market value, on a per-acre basis, shall assume, unless otherwise determined pursuant to § 153.146, that the land is zoned single-family detached residential, subdivided with appropriate frontage on a dedicated road, and has all appropriate utilities available, is improved as set forth in this section, and is otherwise property capable of being used for residential development. The written opinion of an appraiser or real estate professional shall constitute prima facie evidence of the fair market value of the land in question and shall be used in calculating any cash in lieu of land contributions herein unless timely objected to as provided in § 153.154. Objections to the fair market value as defined above shall be made to the Planning Commission in accordance with § 153.154. Failure to timely object to the fair market value, as defined above, in accordance with § 153.154 shall thereafter waive any right to raise an objection at a later time.
(C) Criteria for requiring land dedication and cash contribution. There may be situations in subdivisions or developments when a combination of land dedication and a contribution in lieu of land are both necessary. These occasions will arise when:
(1) Only a portion of the land to be developed is proposed as the location for a park site. That portion shall be dedicated as a site as aforesaid, and a cash contribution in lieu thereof shall be required;
(2) A major part of the local park or recreation site has already been acquired and only a small portion of land is needed from the development to complete the site. The remaining portions shall be required by dedication, and a cash contribution in lieu thereof shall be required.
(D) Credit for private open space and recreation areas.
(1) When subdividers or developers provide their own open space for recreation areas and facilities, it has the effect of reducing the demand for local public recreational services. Depending on the size of development, a portion of the park and recreation areas in subdivisions or developments may, at the option of the village, be provided in the form of "private" open space in lieu of dedicated "public" open space. The extent of same shall be determined by the village, based on the type of recreational needs of the projected residents and in conformance to the total park and recreational land requirements or the general area pursuant to Table I.
(2) In general, a substitution of private open space for dedication of parks will imply a substantially higher degree of improvement and the installation of recreational facilities, including equipment by the subdivider or developer as part of his obligation. Detailed plans of such areas, including specifications or facilities to be installed, must be approved by the village, and before any credit is given for private recreation areas, the subdivider or developer must establish a permanent system of maintenance with the execution of the appropriate legal documents. When an adjustment for private recreation areas is warranted, it will be necessary to compute the total park dedication that would have been required from the subdivision or planned unit development and then subtract the credit to be given.
(Ord. 2021-03, passed 3-9-2021)