Where the comprehensive plan or the standards of the village call for a larger amount of park and recreational land or school sites in a particular subdivision or planned unit development than the developer is required to dedicate, the land needed beyond the developer's contribution shall be reserved for subsequent purchase by the village or other public body designated by the village, provided that such acquisition is made within one year from the date of approval of the final plat, or if an agreement between the developer and the village is recorded outlining specific conditions for the conveyance of such property. (Ord. 610, 4-9-2001)