As a condition of approval of any final plat of subdivision or a planned unit development that is intended to be used or capable of being used, entirely or in part, for residential purposes, the applicant, subdivider, builder, property owner, or a developer (hereafter collectively referred to as “developer”) will be required to dedicate land for school sites, to serve the immediate and future needs of the residents of the development, or to pay a cash contribution in lieu of actual land dedication, or a combination of both at the option of the village, in accordance with the criteria and formula set forth in this chapter.
(Ord. 2172, passed 7-5-05; Am. Ord. 2265, passed 2-21-06)