1147.04 LAND DEDICATIONS AND IN-LIEU FEES.
      (a)    Land Dedication: The Planning and Zoning Board may dedicate private land in any platted subdivision for the provision of public areas. Such public areas shall be used for the purpose of providing space for parks, open space, public services, recreational areas, and other public uses. The amount of acreage to be set aside shall comply with the following schedule:
 
PERCENT OF
ZONING DISTRICT
NET DEVELOPABLE SITE
R-1
2.5%
R-2 and R-3
5.0%
PRD PUD
20.0%
     Dedicated lands may be deeded to the Village and thereby developed and managed by the Village or held, developed and maintained by a private association, the bylaws and creation of which shall be by approval of the Village Council as an element of the subdivision platting process. Title to dedicated land shall be transferred to the Village within sixty (60) days of final plat approval.
      
   (b)    Review and Approval Process: Land dedication shall serve as a component of the subdivision review process of the Village of Hebron. The Planning and Zoning Board may review and reject the proposed acreage if such site(s) is not appropriate for the intended use given environmental, technical or land use considerations.
      
   (c)    In-Lieu Fees: The Applicant may request the payment of fees in lieu of the total or a portion of the land dedication to the Planning and Zoning Board. Village Council shall make a final decision on such request following the recommendation of the Planning and Zoning Board. The amount of fees to be paid shall be equal to the assessed value of the acreage that would have been otherwise dedicated to the Village.
      
   (d)    Payment, Deposit and Use of Fees: In-lieu fees shall be paid to the Village within sixty (60) days following final plat approval. Such fees shall be placed in a special fund, and. such funds shall only be used for the acquisition and development of public parks, recreation facilities, and open space.
      
   (e) Additional Reservation of Public Land: Where adopted planning documents recommend sites for public schools, parks or other public facilities, including open space, such lands shall be set in reserve by the owner for a period not to exceed five (5) years. The school district in the case of a recommended school site may purchase said reserve(s) by the end of the five (5) year period for the fair market value as calculated by a current appraisal prepared by a certified appraiser. The Village may purchase the balance of said reserve(s) by the end of the five (5) year period following transfer of the dedicated land. The fair market value of the balance shall be calculated by a current appraisal prepared by a certified appraiser. Failure to purchase any reserve(s) within the five (5) year period shall revert use of the property to the owner.
(Ord. 19-20. Passed 11-4-20.)