A. Open Space In Design: When the preliminary plan is submitted for the division of property, a part or all of which is deemed suitable by the Planning Commission for schools, parks, playgrounds or other public use in accordance with the Master Plan, the Planning Commission shall require the subdivider to include the required public open space in the subdivision design to the satisfaction of the Planning Commission.
B. Space Offered For Sale: The subdivider at or before the time of presentation of the final subdivision plat for approval of the City Council shall offer to sell to the City or other appropriate agency, at any time during the two (2) year period immediately following the recording of the final plat, any land which has been set aside for park, playground, school or other public use at a fair market price.
C. Fair Market Value: In the case of land required for park or playground the fair market price shall be based upon raw land value but in no event shall such price exceed the price for the land in the last bona fide sale thereof within a period of five (5) years immediately before the date of the final subdivision plat.
D. Available For Two Year Period: The City or other appropriate public agency, may accept such offer at any time within a two (2) year period immediately following the recording of the final plat. If any such proposed public areas have not been purchased by the appropriate public agency within two (2) years after the recording of the final plat, such areas may be divided into lots in accordance with the requirement of this title, and sold. (Ord. 2024-06: Ord. 89-003 § 7(E))